News Article Hines investment logistics Poland warehouse
by Property Forum | Investment

Hines Poland Sustainable Income Fund (HPSIF), an investment fund managed by Hines Polska, finalised 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 170,000 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.