Hines Sells a Portfolio of Distribution Parks

On 31 March 2020, Hines Poland Sustainable Income Fund (HPSIF), an investment fund managed by Hines Polska Sp. z o.o., finalized the sale of its real estate portfolio, comprising six distribution parks and the Nord Point office building, to CGL Investment Holdings Corporation Limited. Investing in commercial properties in order to increase their value and then selling them is one of Hines’ core business areas. In 2020, the company plans to expand in the Polish market.

When searching for investment opportunities, we especially pay attention to the attractive location and the quality of buildings. Our goal is to increase the value of such properties by modernizing them in accordance with the idea of sustainable development. This was the case with the distribution parks and office spaces that we are currently selling to CGL. Due to the solutions we have implemented, we mainly managed to reduce the buildings’ impact on the environment – as a result, almost all of them have been BREEAM certificated with a “Very Good” grade. This also translated into lower operating costs for tenants, said Łukasz Pawikowski, Asset Manager at Hines Poland.

The real estate portfolio sold by HPSIF to CGL includes five logistics parks – in Garwolin, Grodzisk Mazowiecki, Legnica, Mysłowice and Toruń, which are part of the Distribution Park Portfolio, as well as DP Żerań with the Nord Point office building. The total GLA of these properties exceeds 170 thousand sqm. Most of them are BTS projects developed for the specific needs of leading companies from the food, cosmetics, automotive and logistics industries. They are almost 100% leased.

The main advantages of all the properties we have purchased from Hines include green solutions and strategic locations close to key transportation hubs enabling convenient domestic and international connections. With the high-quality acquisition and the expertise in asset management, CGL poised to continue its rapid growth of profitable investment portfolio across Europe real estate market, highlighted Kade Cheng, Senior Finance Manager at CGL Investment Holdings Corporation Limited.

HPSIF was supported by Dentons, CRIDO and CBRE in the sale of the Distribution Park Portfolio, as well as DP Żerań and the Nord Point office building.

Hines Poland Sustainable Income Fund

HPSIF is a fund managed by Hines Polska Sp. z o.o., aimed at purchasing real estate in order to improve energy efficiency and reduce emissions of the properties through active management. Currently, the fund’s portfolio includes three office buildings in the Mokotów district in Warsaw – Ambassador Office Building, Nestlé House and Sky Office Center.

Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion* of assets under management, including $71 billion for which Hines serves as an investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. *AUM includes both the global Hines organization as well as RIA AUM. For more information visit www.hines.pl and www.hines.com.

For further information please contact:
Joanna Siwak
Hines Polska Sp. z o.o.
(48 22) 351 24 00
joanna.siwak@hines.com