Dentons’ Real Estate team in Warsaw has advised Hines Global REIT on the sale of a portfolio of five logistics properties in Poland. The transaction value was approximately €140 million. The assets were acquired by Gemini Poland Holdcos, affiliates of Blackstone Group.
The portfolio, sold by Hines, consists of two warehouses in Warsaw, one in Wrocław and two in the Silesia region. All the properties are fully leased to tenants, which include ThyssenKrupp, LG Electronics, Johnson & Johnson and Toshiba.
The sale of the Polish portfolio is part of a larger transaction encompassing five logistics centers in Germany. The total value of assets acquired by Blackstone in both countries is in the region of €450 million.