Hines Pan-European Core Fund expands logistics portfolio in Poland
Hines, the international real estate firm, acquired a major logistics park in a prime strategic location in Poland on behalf of the Hines Pan-European Core Fund (HECF) from GLL Real Estate Partners (GLL), the fund manager which is part of the Macquarie Group, for an undisclosed price. Located in Wrocław, a well-established European industrial submarket in the southwest of Poland near the German market, the 123,499 sqm logistics park is fully leased to a global online retailer. The mezzanine warehouse facility was developed in 2015 by Panattoni Europe. The acquisition is part of HECF’s ongoing strategy to increase exposure to urban logistics assets in key European locations with strong long-term growth prospects. It represents the latest in a string of significant acquisitions this year and closely follows the most recent purchase of a 19,418 sqm complex at London’s Heathrow Airport. The HECF was recently recognized as one of the top property funds in Europe, achieving the MSCI European Property Investment…
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