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POLAND Hines buys Wrocław mega-warehouse

Investment & finance
US investor Hines has acquired 123,500 sqm logistics park in Wrocław from GLL Real Estate Partners for an undisclosed sum.

Hines, which has made the transaction on behalf of its Hines Pan-European Core Fund, has only revealed that that the mezzanine warehouse facility was developed in 2015 by Panattoni Europe and is fully leased to a global online retailer. In 2014-15 Panattoni developed a warehouse of such a size in Wrocław for Amazon, which was then sold to GLL, which is part of Australian-based multinational Macquarie. A similar-sized facility developed by Panattoni in Poznań was also very recently sold to Blackbrook by GLL.

The acquisition of this facility is an important addition to the portfolio of logistics assets managed by Hines in Poland. We are planning to grow this line of business in the near future and acquire more assets on behalf of Hines fiduciary capital as well as for third party clients. This transaction through the Hines Pan-European Core Fund represents a building block in this strategy.
Wojciech Rumian, the senior managing director and country head of Hines Poland

Hines was advised by Greenberg Traurig, EY and CMT, while GLL was advised by CBRE, Dentons, PwC and Sentient.

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