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Hines pan-European core fund expands logistics portfolio in Poland
Hines has 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, a fund manager that is part of the Macquarie Group, for an undisclosed price.
Located in Wroclaw, a well-established European industrial submarket in the southwest of Poland near the German market, the 123,499-square-meter (1.3 million-square-foot) 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-square-meter (209,000-square-foot) complex at London’s Heathrow Airport.
The HECF was recently recognized as one of the top p