Hines acquired Warsaw’s Sky Office Center on behalf of the Luxembourg-based Hines Poland Sustainable Income Fund (HPSIF) from the 5th Avenue Holding. The value of the transaction was not disclosed. Located at the intersection of Rzymowskiego and Modzelewskiego streets, the six-storey building, totaling 4,800 sqm, is fully leased. The building was completed in September 2013. CBRE advised the buyer in the transaction, while Dentons provided legal counsel.
Hines said it wants to improve the project’s sustainability. In accordance with Hines’ standard practice, Sky Office Center’s BMS system will also undergo improvements.
“Sky Office Center complements the HPSIF portfolio with its excellent location and high-quality finishes, which add to the appeal of the building,” said Leo Chen, senior managing director for investment management at Hines.
