Prologis has offloaded its 164,000 sqm portfolio across Poland to Hines Global Reit Poland Logistic Holdings I LLC.
The portfolio comprises 11 properties including ten buildings and a parcel of land located in four Prologis’ distribution parks: Prologis Park Warsaw, Prologis Park Warsaw III, Prologis Park Wrocław II and Prologis Park Będzin. Two of which were from Prologis’ portfolio, five from Prologis European Properties (Euronext: PEPR) and four from Prologis European Properties Fund II. Average occupancy across the properties is 92.8 per cent leased.
Hines Poland will serve as Asset Manager and Property Manager on behalf of the owner, Hines Global REIT.
Formerly known as Prologis Parks, Hines will re-brand them “Distribution Parks,” a branding strategy used by Hines in Brazil in its portfolio of 13 logistics facilities.
