Hines acquires Ambassador office building

Hines Poland Sustainable Income Fund (HPSIF) bought the Ambassador office building in Warsaw from Kronos Real Estate. The price was not disclosed.
Located in the city’s Mokotów district, the 11-story Ambassador offers 14,900 sqm of modern office space and 1,000 sqm of retail space on the ground floor. Tenants include Gras Savoye, DSV, Ipsos, CBRE Corporate Outsourcing and Coty Poland. Hines Poland will be the building’s asset and property manager. The project is currently undergoing BREEAM assessment.
“The purchase of the Ambassador is the first transaction completed by the HPSIF fund. The strength of the tenants and the quality of the asset make the Ambassador an attractive acquisition for the portfolio,” said Leo Chen, senior managing director and fund manager of HPSIF.