February 04, 2016

Annopol Business Park purchased by Hines Poland Sustainable Income Fund

Annopol Business Park purchased by Hines Poland Sustainable Income Fund

Hines Poland Sustainable Income Fund (HPSIF) purchased Annopol Business Park, an A-class warehouse and office centre, from Europejskie Centrum Inwestycyjne ECI S.A. Hines Polska manages the assets and real property on behalf of HPSIF.

Annopol Business Park is strategically located in north-eastern Warsaw (Białołęka), and thus offers easy access to logistics operators. The park, developed between 2006 and 2015, features five warehouse facilities and an office complex with the total lease area of over 44,500 sqm, including 28,624 sqm of warehouse space.

“Annopol Business Park is the first facility of this kind in HPSIF's portfolio, and at the same time the combination of the warehouse and office functions makes the portfolio whole. The finalization of this transaction marks an excellent beginning of the new year for us,” said Mieczysław Godzisz, Senior Managing Director Hines Poland.

Jakub Sagan, General Director ECI S.A. added, “This is the second major transaction between our companies in the last 3 years, which proves the amount of confidence that Hines has given to ECI. In March 2013 we have closed a successful sale transaction of the office buildings complex New City and NC2 in Mokotow district in Warsaw, and now Hines has acquired our complex Annopol Business Park located in Białołęka. We are very pleased with the cooperation and we hope for further successful transactions not hiding the satisfaction that such an experienced and demanding partner once again appreciated the high quality and uniqueness of our projects.”

HPSIF's strategy is based on purchasing real property, and next on improving the property's energy efficiency and on reducing pollution emissions by active management. Hence, all facilities of the warehouse and office centre will undergo an audit intended to identify the aspects that require improvement in this area. Following the improvements, the facilities will be subject to certification in one of the recognized systems. The planned
actions will bring measurable profits for the tenants and employees of Annopol Business Park, as well as for the natural environment.

HPSIF was represented by Dentons law firm and CBRE consultancy for the transaction. The seller was represented by Greenberg Traurig law firm. The deal was financed by BZ WBK, represented by Norton Rose Fulbright.
HPSIF's portfolio also includes three office buildings in the Warsaw district of Mokotow: Ambassador Office Building, Nestle House and Sky Office Center.

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