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Proximo 1 sold for over EUR 116 mln

09 August 2017

Proximo 1 sold for over EUR 116 mln
Proximo 1 is BREEAM certified with a rating of ‘Excellent’
POLAND Hines has sold the Proximo I office building from the portfolio of the Hines Russia & Poland Fund to ČS nemovitostní fond (CSNF), a fund managed by REICO, for EUR 116.6 mln.

The office building next to the Rondo Daszyńskiego metro station in Warsaw was officially opened in June 2016 and is currently 95 pct leased. “We are very pleased to have reached a deal with a reliable and stable investor like REICO. I would like to thank both teams and their advisors for their hard work on and dedication to this transaction. This has allowed us to reach an agreement that satisfies both the buyer and the seller,” said Wojciech Rumian, a member of the management board of Hines Polska. ‘The CSNF portfolio is currently undergoing a substantial programme to rebalance the risk. The acquisition of Proximo I from a renowned developer like Hines represents an important step towards diversifying our regional risk exposure. With the purchase of Proximo 1, we’ve gained access to the kind of prime product that is ever harder to come by in our home markets of the Czech Republic and Slovakia," said Tomáš Jandík, the chief investment officer at REICO IS ČS. The seller was represented by Cushman&Wakefield, Crido and Dentons whereas the purchaser was advised by CBRE, CMS, TPA and DIL. Proximo I is a 12-storey office building with a total of 28,385 sqm of class A space including approximately 2,000 sqm of retail space on the ground and first floor. The building also has a three-level underground car park with spaces for 435 vehicles. The building was designed by Rolfe Judd. The interior design of the lobby is by Pininfarina and Hochtief Polska was the general contractor for the first stage of the development. The building is BREEAM certified with a rating of ‘Excellent’. Stanley Black & Decker is the largest tenant with 17 pct of the space and the other tenants include Grupa Pracuj and Takeda.

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