Hines, the international real estate firm, is pleased to announce Hines Global Income Trust, Inc. (“Hines Global”) has acquired a modern logistics park with an area of over 32,000 square meters near Gdańsk. The property, purchased on 24th September 2019 from the investment platform The SEGRO European Logistics Partnership (“SELP”), will be managed by Hines Polska.
The logistics centre consists of two high-class warehouse buildings.The buildings were constructed in 2013 and 2015, and are fully leased to two tenants which utilize the location to service the Tri-City area. Żabka Polska, the largest chain of small convenience stores in Poland, occupies 25,500 square meters of building space. The remaining area of 5,100 square meters is leased to DB Schenker, a German global leading logistics provider specialising in comprehensive supply chain management offering not only warehousing, but also freight forwarding and transport solutions.
The investment is located in Pruszcz Gdański, in the vicinity of the Rusocin junction, providing direct access to the Tri-City ring road and A1 Motorway. The property is only 11 km away from the Gdańsk city center.
Name of the deal
Segro Logistics Park Gdańsk
The date of closing the deal
24/09/2019
Value of the transaction (in EUR)
CONFIDENTIAL
Yield
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Seller, plus brief information about the company
The SEGRO European Logistics Partnership
Consultancy which advised Seller
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Purchaser, plus brief information about the company
Hines Global Income Trust is a public, non-listed real estate investment trust sponsored by Hines. It commenced operations in 2014 and invests in commercial real estate investments located in the United States and internationally.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet.
Consultancy which advised Purchaser
During the transaction Hines was advised by the law firm Linklaters, the tax adviser Crido and the technical adviser DIL Polska Baumanagement Sp. z o.o.
Financing institution
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Current occupancy level
100%
Please say why this deal should be considered for the award
Hines Global Income Trust is excited about entering the Polish logistics market, gaining access to a strategic distribution node, and expanding our Pan-European warehouse portfolio. The logistics centre in Pruszcz Gdański is distinguished by its excellent location and stable tenants. We are very glad this investment marks our presence in the Tri-City logistics market.
