International real estate company, Hines, has acquired a key logistics park in a strategic location in Poland on behalf of Hines Pan-European Core Fund (HECF). The seller is GLL Real Estate Partners (GLL), the manager of the fund that is part of the Macquarie Group. The value of the transaction has not been disclosed.

Logistics park with an area of ​​123,499 sqm is fully leased by a global leader in the e-commerce industry and is located in Wrocław, one of the key European logistics markets. The warehouse was built in 2015 by Panattoni Europe.

The acquisition of this facility is part of HECF's strategy to invest in urban logistics centers in key European locations with strong long-term growth prospects. This is the latest in a series of acquisitions made by the Hines fund in 2020, as well as the purchase of a 19,418 sqm warehouse complex at Heathrow Airport in London.

"Due to the strong foundations of the local logistics market, the property fits well with our strategy of focusing on locations with a limited supply of warehouse space with attractive prospects for long-term growth," Peter Epping, Senior Managing Director and HECF Fund Manager at Hines, said.

“The warehouse in Wrocław is a great addition to the portfolio of logistics assets managed by Hines in Poland. In the near future, we plan to further expand in this market sector by acquiring more facilities, both on behalf of Hines mutual funds and for external clients. The transaction for Hines Pan-European Core Fund is a component of this strategy,” Wojciech Rumian, Vice President of the Management Board of Hines Polska, added.

Hines was advised by Greenberg Traurig, EY, and CMT in the investment process, while GLL - CBRE, Dentons, PwC, and Sentient.

(WBJ)