Dentons Warsaw has advised Hines Polska on its acquisition of the Zalando Lounge distribution center from Hillwood Development, which was advised by Clifford Chance. Financing was provided by PKO Bank Polski, advised by DLA Piper.
Hines Polska was operating on behalf of IGIS Asset Management in the deal. Headquartered in Houston, Texas, Hines is a privately-owned global real estate investment, development, and management firm that was founded in 1957 and currently has a presence in 201 cities in 24 countries.
The property, which is located near the town of Olsztynek, in northern Poland, is a built-to-suit investment consisting of 120,000 square meters of warehouse space. Zalando, the company which located its European distribution center for Zalando Lounge in Olsztynek, is the sole lessee of the premises. According to Dentons, Hines will take the role of the asset manager and property manager, as well as providing IGIS and the investors it represents with "comprehensive investment services."
The Dentons team consisted of Partners Pawel Debowski and Mateusz Toczyski, Counsels Agnieszka Nagorska-Kordeczka and Piotr Nerwinski, and Associates Paulina Dabek, Jan Zaremba, Marta Borowska, and Joanna Sztandera.
The Clifford Chance team was led by Counsel Bartosz Kaniasty, supported by Senior Associates Joanna Satkiewicz and Maciej Bochenski.
The DLA Piper team consisted of Partners Mariusz Hyla and Michal Pietuszko, Counsel Bartlomiej Palusiak, Senior Associate Sylwia Czerwik, and Associate Jaroslaw Spodar.