The Hines Russia & Poland Fund (HRPF) has purchased two logistics facilities in Poland from TMW Pramerica Property Investment for an undisclosed amount.

The Hines Russia & Poland Fund (HRPF) has purchased two logistics facilities in Poland from TMW Pramerica Property Investment for an undisclosed amount.

The properties contain a total of seven warehouses comprising 753,200 sq ft (70,000 m2). They are located in Gadki and Grodzisk Mazowiecki, both in close proximity to the A2 motorway, which connects Warsaw with Berlin. The facilities were constructed between 1995 and 2004 as build-to-suits for the Raben group, a logistics outsourcing firm. Raben remains a tenant in each property.

The facility in Gadki contains five warehouses with a total area of 322,800 sq ft. The property in Grodzisk Mazowiecki includes two warehouses containing 430,400 sq ft.

Hines Poland will serve as asset manager and property manager. The transaction increases the portfolio of industrial space managed by Hines in Poland to around three million square feet.

'We think Poland is a good place to invest in the medium and long-term,' said Mieczysaw Godzisz, senior managing director and country head for Hines in Poland. Hines entered the Poland real estate market in 1996.

Jones Lang LaSalle represented the seller in the transaction with legal services provided by Cameron McKenna. Legal services for Hines were provided by Norton Rose.

The Hines Russia & Poland Fund is a Luxembourg-based fund which was formed in 2012 to invest in Russian and Polish real estate. This is the fourth Hines fund with that strategy. The fund targets to invest 80% of its capital in Russia and 20% in Poland.