Dentons Warsaw has advised Hines Global REIT on the sale of a portfolio of five logistics properties in Poland for approximately EUR 140 million to Gemini Poland Holdcos, affiliates of Blackstone Group.
The portfolio sold by Hines consists of two warehouses in Warsaw, one in Wroclaw, and two in the Silesia region of Poland. All the properties are fully leased to tenants, including ThyssenKrupp, LG Electronics, Johnson & Johnson, and Toshiba.
According to Dentons, the sale is part of a larger transaction encompassing five logistics centers in Germany. The firm reports that "the total value of assets acquired by Blackstone in both countries is in the region of EUR 450 million."
Hines, which was founded in 1957, is a privately-owned global real estate investment firm present in 207 cities in 24 countries. The firm has approximately USD 116.4 billion of assets under management, including USD 64 billion for which Hines provides fiduciary investment management services, and USD 52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world.
The Dentons team was supervised by Partner Pawel Debowski, Chairman of Dentons’ Europe Real Estate group, and it was led by Partner Bartlomiej Kordeczka, supported by Senior Associate Hanna Zarska and Junior Associates Maja Cywinska and Jacek Korcz.
Dentons did not reply to our inquiry about counsel for Gemini Poland.