US developer-investor Hines has announced the sale of the Proximo II office building in Warsaw, Poland, to the Czech fund, CS Nemovitostní Fond (CSNF), managed by investor Reico.
The building, which was part of the Hines Russia & Poland Fund portfolio, was divested for €77.3 mln.
The disposal follows Hines' sale last year of Proximo I to a Reico fund for a price of €117 mln.
'We would like to thank Reico and its team for the second transaction successfully completed within a 12-month time frame,' said Przemyslaw Iznerowicz, managing director at Hines Poland.
Proximo II is one of two office buildings forming the Proximo complex in the fast-developing Wola district on the outskirts of Warsaw’s Central Business District. Located next to the Rondo Daszynskiego metro station in Warsaw, Proximo II was delivered in January 2018, and is 100% occupied.
Hines was represented by Dentons, Cushman & Wakefield and Crido. The purchaser was advised by White & Case, CBRE, TPA and DIL.
