CBRE Global Investors has acquired on behalf of its investors, the ‘Hillwood Portfolio’ consisting of four standing logistics parks in Poland totalling 220,608 sqm. The vendor was Hillwood. CBRE Global Investors has also agreed to acquire from Hillwood a pipeline of projects currently under development. These consist of two new parks and two extensions in Poland totalling 134,165 sqm and two new developments in Germany totalling 71,684 sqm.
The assets acquired in Poland are:
- 7R Logistic Centre Gdansk – a modern multi-let industrial and logistics park comprising six buildings (four already existing and two under construction) with 122,564 sqm of lettable space. It is located in the ‘Tri-City’ metropolitan area.
- Hillwood Bielsko-Biala – a 41,540 sqm multi-let industrial and logistics asset, comprising two buildings and six tenants. The fully let property is located in one of the most developed parts of Poland directly adjacent to a motorway connecting Poland with Czech Republic and Slovakia.
- Ozarow I – a 12,460 sqm modern warehouse let to five tenants. Located approximately 15 km west from the city centre of Warsaw.
- Hillwood Wroclaw – located close to the fourth largest city in Poland, Wroclaw is a modern logistics park, comprising two buildings totally 90,045 sqm. The park will be extended by one further building totalling 27,000 sqm.
- Ozarow II – a multi-let industrial asset with a rentable area of 29,713 sqm. Located 15km from Warsaw. The park is in the final stage of construction and letting process and the acquisition is planned within next few months.
- Warsaw Park – an inner-city facility benefitting from the close vicinity to the city centre of Warsaw. The industrial park comprises 23,815 sqm of lettable area with a planned extension of a further 7,600 sqm. Completion is expected immediately after the extension is finished.
The assets acquired in Germany are:
- Hillwood Weiterstadt – a new development that will only be acquired once fully let. Located in the Frankfurt am Main metropolitan area and once completed will comprise 37,282 sqm.
- Hillwood Dusseldorf – a 34,402 sqm new development that will complete in 2017 and will only be acquired once fully let. This asset is a distribution centre, located within 4 km of Dusseldorf city centre.
John Mulqueen, Head of Transactions EMEA at CBRE Global Investors added: “We have over €1bn of capital to invest in CEE and Germany over the next 12 months. We are very pleased to be working with Hillwood to access top quality assets in a meaningful scale for the benefit of our investors.”
