Hines has completed the sale of the Wola Center office complex in Warsaw to Trigea Fund, managed by Trigea nemovitostní fond, SICAV, a.s. The transaction was carried out on behalf of Hines European Value Fund 1 (HEVF 1).
Kamil Nurek, Managing Director and Co-Head of Poland at Hines, said:
“The completion of the investment process at Wola Center confirms the effectiveness of our value-add strategy in key European locations and the ability to create assets with strong operational fundamentals and an attractive risk-return profile for investors. Thanks to its strategic location, high-quality space, and effective commercialization, Wola Center has become a mature asset that fits the profile of a long-term institutional investor.”
Wola Center is a Class A office complex located at Przyokopowa 33 Street, close to Rondo Daszyńskiego and the Warsaw Uprising Museum in the western part of Warsaw’s central business district. The property provides a total of 35,430 sq m of space and is fully leased.
The buyer, Trigea Fund, is a Czech open-ended real estate fund within the Partners group. The fund focuses on commercial properties, primarily office, logistics and retail assets in the Czech Republic and Poland, typically in established and well-connected locations with high occupancy levels.
Pavel Novák, Member of the Board and Portfolio Manager at Trigea Fund, commented: “We invest in stable, modern commercial properties in the best locations, and Wola Center perfectly fits this strategy. It is a recognizable address in Warsaw’s dynamically developing business district, with a long-term, diversified tenant base. We believe this property will be a source of stable, attractive income for our investor.”
Hines was advised on the transaction by Cushman & Wakefield and GIDE, while Trigea Fund was supported by CBRE and CMS.
The Wola Center complex comprises four interconnected buildings designed by Kuryłowicz & Associates. The property includes a two-level underground car park with more than 370 spaces, bicycle facilities, electric vehicle charging stations, terraces and a central patio of approximately 1,000 sq m, as well as coworking space in the main lobby. The location provides access to metro, tram and rail connections linking the building with the city centre and other districts.