Prologis Completes EUR 19.9m Sale of Prologis Park Sosnowiec

Prologis, Inc., the leading global owner, operator and developer of industrial real estate, and Hines Global REIT, a Houston-based, public, non-traded real estate investment trust sponsored by Hines, have announced today the sale of Prologis Park Sosnowiec in Poland to Hines Global REIT, Inc. The aggregate sale price was approximately EUR 19.9 million.

The transaction comprises two modern buildings – both 100 per cent occupied – totaling 47,000 square metres of distribution and office space.

Located in Katowice, a region bordering the Czech Republic and Slovakia, the park benefits from good road transport links to Kraków and Wrocław via the E40, and to Warsaw via the E75. Katowice airport is only 30 kilometres north of the park, offering good connections to most major European cities.

Prologis Park Sosnowiec is the fifth park to be acquired by Hines Global REIT from Prologis. In April, Hines purchased two assets in Warsaw, one in Będzin and another in Wrocław. Prologis Park Sosnowiec will be re-named a ‘Distribution Park’ and will be identified by its location, in line with the Hines Global REIT branding strategy. Hines Poland will serve as asset manager and property manager on behalf of Hines Global REIT.

Mieczysław Godzisz, senior managing director of Hines in Poland, said: “The acquisition of the Sosnowiec asset has expanded Hines’ portfolio in Poland, and proved that the Central and Eastern European region continues to be stable for investment in the real estate market, offering better returns than the Western markets. As Hines is focused on investment activity, we are seriously looking at further investment opportunities.”

Ben Bannatyne, managing director for Prologis in Central & Eastern Europe, said: “This latest transaction is another step forward in our effort to realign our portfolio with our investment strategy and focus on new developments in core global markets.”

Jones Lang LaSalle represented Prologis in this transaction.

Prologis is the market leader in logistics and distribution facilities in Poland, offering more than
1.9 million square metres of space across 22 distribution parks (as of June 30, 2012).