Hines and Zeus Capital Management complete the first office acquisition in Warsaw for 2019
Hines, the international real estate company, and Zeus Capital Management, announced the completion of the sale and purchase of the Graffit building. The property owned by Hines Russia & Poland Fund (HRPF) was sold to TAN Poland Sp. z o.o., a company managed by Zeus Capital Management (Zeus). This is Zeus’ first investment in Poland and it is part of its commercial real estate platform dedicated to Central and South East Europe.
Graffit is a top-quality office building with a section for retail and services, located at 28 Domaniewska St in Warsaw. The facility was commissioned in the first quarter of 2018 and offers 18,500 sqm of space.
“On behalf of Hines, I would like to thank Zeus Capital Management and the advisors of both parties for the efficient transaction. Graffit is an important transaction, not only for the seller and buyer, but also for the entire market. We have proven that Mokotów is still an attractive market for developers, tenants and investors alike,” commented Wojciech Rumian, Vice President of Hines Polska.
“The acquisition of Graffit is our first transaction in the Warsaw market and fits perfectly with the investment strategy of our investment platform. We are very pleased to have acquired one of the prime office buildings in the promising Mokotow submarket. The property is ideally positioned to benefit from the real estate submarket’s upswing and we are confident it will perform exceptionally well for our investors,” said Lila Pateraki, Chief Investment Officer at Zeus Capital Management.
In the transaction, Hines was represented by Dentons, the real estate agency Colliers International Poland and CRIDO. The buyers were advised by DLA Piper Giziński Kycia, the real estate consultancy Cushman & Wakefield Polska, Ernst & Young and Sentient. The acquisition was financed by Berlin Hyp.