Acquisition of app. 220,000 sqm by Hines Polska on behalf of Hines Global REIT

Award:

Investment Deal of the Year, CEE

Name of deal:

The acquisition of app. 220,000 sqm by Hines Polska on behalf of Hines Global REIT fund

Seller, plus brief information about the company:


Prologis is the owner, operator and developer of industrial real estate, and focused on global and regional markets across the Americas, Europe and Asia.

Consultancy which advised Seller: Jones Lang LaSalle

Purchaser, plus brief information about the company:

Hines Global REIT is an investment trust sponsored by Hines. Hines is a real estate investment and management firm with offices in 18 countries, and controlled assets valued at app. USD 22.9 bln.

Consultancy which advised Purchaser:

CBRE


Why this deal should be considered for the award: The acquisition of 220,000 sqm of class ‘A’ warehouse space in five well diversified facilities in Poland consisting of properties located in distribution parks in Warsaw, Wrocław, Będzin and Sosnowiec, was the largest investment transaction in logistics in CEE region in 2012. It was led by Hines Polska on behalf of Hines Global REIT fund. The total transaction volume amounts to app. EUR 119.5 mln. The investment was an all-equity acquisition. The properties are currently 95.1 pct leased to such reputable tenants as Fagor Mastercook, Carrefour, ABC Data and a variety of smaller tenants. The acquisition has expanded Hines investment portfolio in Poland and more importantly allowed the firm to enter into a new real estate segment. Also, the logistics portfolio represents the first acquisition for Hines Global REIT in Poland. Hines Polska serves as asset manager, property manager and leasing manager on behalf of Hines Global REIT. Hines has re-named the parks as distribution parks.



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