Jury Awards

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Purchase of Nestlé House office building, Warsaw

Category: Investment Deal of the Year, CEE

Award:	Investment Deal of the Year, CEE
Name of the deal:	Purchase of Nestlé House office building, Warsaw
Value of the transaction (in EUR):	-----
Yield:	-----
Seller, plus brief information about the company:	Kronos Real Estate is an experienced investor and developer operating on the Polish real estate market. The company has built in Warsaw office properties of the total area of 60,300 sgm.
Consultancy which advised Seller:	CBRE (selling agent) , Góralski & Goss Legal (legal advisors)
Purchaser, plus brief information about the company:	Hines Poland Sustainable Income Fund represents Hines’ fund concentrated solely on Poland. Acquired assets will undergo improvement in terms of sustainability, operation and will be green-certified.
Consultancy which advised Purchaser:	JLL (selling agent), Dentons (legal advisors)
Financing institution:	Berlin Hyp ag
Current occupancy level:	100%
Please say why this deal should be considered for the award:	Acquisition of the building is the second transaction finalized between Kronos Real Estate and Hines Poland Sustainable Income Fund. The investor appreciated the high quality and the potential of the Nestlé House building as well as the established and internationally recognized tenants. Two anchor tenants, totaling 85% of space, have been secured at early stage of construction. This outstanding pre-lease level, for a building let at market rates, proves the superiority of the location and level of quality within submarket. After acquisition the new owner, in line with own sustainability program, has taken market-unique measures to further minimize the environmental output of the asset. HinesGO green office standards were implemented both at asset and tenant level, while condition of green areas around the building was improved. Also one of the Veturilo stations located next to the building was sponsored by the owner of Nestlé House, all within first few months after acquisition.

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