Hines, acting on behalf of Hines Russia & Poland Fund (HRPF), has sold the "Graffit" building in Warsaw, Poland to TAN Poland Sp., a company managed by Zeus Capital Management. The transaction marks Zeus’ first investment in Poland and it is part of its commercial real estate platform dedicated to Central and South East Europe. Located at 28 Domaniewska street, "Graffit" is a top-quality office building with a section for retail and services. The facility was commissioned in the first quarter of 2018 and offers 18,500m² of space. The purchase price was not disclosed.
“On behalf of Hines, I would like to thank Zeus Capital Management and the advisors of both parties for the efficient transaction. Graffit is an important transaction, not only for the seller and buyer but also for the entire market. We have proven that Mokotow is still an attractive market for developers, tenants and investors alike,” commented Wojciech Rumian, Vice President of Hines Polska.
“The acquisition of Graffit is our first transaction in the Warsaw market and fits perfectly with the investment strategy of our investment platform. We are very pleased to have acquired one of the prime office buildings in the promising Mokotow submarket. The property is ideally positioned to benefit from the real estate submarket’s upswing and we are confident it will perform exceptionally well for our investors,” said Lila Pateraki, Chief Investment Officer at Zeus Capital Management.
