Hines Advises Mirae on Their Expanding Real Estate Portfolio in Poland

(WARSAW, POLAND) Hines, the international real estate firm, announced today that it has advised Mirae Asset Global Investments (“MAGI”)—a Seoul-based investment manager that offers comprehensive investment services—on acquiring two logistics centers near Wrocław and Konin, with a total area of 163,135 square meters. MAGI acquired them from Blackstone by purchasing shares in special purpose vehicles which owned the investment and appointed Hines as the local asset manager of the portfolio throughout the investment horizon. 

The first of the two properties is a logistics center situated in Bielany Wrocławskie at 6 Logistyczna Street. Its sole tenant is Amazon – the world’s largest online retailer. Amazon leases the entire available space of the 123,469-square-meter building. The warehouse in Wrocław that Amazon has operated in since 2014 is its first distribution centre in Poland. 

The next new investment in the portfolio is a logistics center located at 35 Kasztelańska Street in Krągola near Konin. The sole tenant at this 39,666-square-meter warehouse is Eurocash Group, a leading distributor of FMCG products in Poland. 

“We realize the enormous potential of the logistic market in Poland, and that is why we think that purchasing these properties from Blackstone is of key importance to Mirae Asset Global Investments’ European operations. As an investment manager with global presence, we put a lot of stress on selecting our local business partners, who are well versed in the domestic trends and conditions. I firmly believe that starting cooperation with Hines, a company with tremendous experience in the real estate sector, is a great decision,” said Ken Kim- representative of Mirae Asset Global Investments. 

“We are very happy to have advised Mirae Asset Global Investments on this transaction, Hines’ first collaboration with MAGI in Poland. Amazon and Eurocash centers offer exceptionally high-quality logistics space with long-term security for the investor so we are excited by the asset management mandate that Hines Poland has been entrusted.” said Przemysław Iznerowicz- Managing Director, Hines Poland. 

About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 214 cities in 24 countries. Hines has approximately $120.6 billion of assets under management, including $66.5 billion for which Hines provides fiduciary investment management services, and $54.1 billion for which Hines provides third-party property-level services. The firm has 128 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,348 properties, totaling over 444 million square feet. The firm’s current property and asset management portfolio includes 512 properties, representing over 223 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

About Mirae Asset Global Investments
(“MAGI”) is an investment manager present in 14 countries all over the world. MAGI is part of one of the largest independent financial groups in Asia, Mirae Asset Financial Group (“Mirae Asset Group”). Mirae Asset Group provides comprehensive services to clients worldwide, including asset management, property management, investment banking and life insurance. The total value of assets managed by Mirae Asset Group exceeds $385 billion (as at 31 March 2019). More information about the operations of MAGI is available at https://www.am.miraeasset.com/

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