Hines completes purchase of Wola Center
Investment & financeschedule 31 January 2020
Wola Center was built in 2013
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POLAND The Hines European Value Fund has completed its purchase of the Wola Center building in Warsaw from Develia (formerly known as LC Corp).
The price came to EUR 101.9 mln plus VAT and transaction costs. Develia has announced that the proceeds from the sale are to be used to repay a loan granted by Bank BNP Paribas of EUR 45.2 mln. Wola Centre, which was built in 2013, has 27,500 sqm of office space.
“The sale of Wola Center results from our commercial sector strategy of building, commercialising and selling our projects. By the end of the year we are planning to have sold another building – Wola Retro. We intend to start work
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