ING provides loan for Hines’ acquisition of Ambassador Office Building in Warsaw
ING Bank Śląski SA has provided a bilateral senior loan to back the acquisition of the Ambassador Office Building in Warsaw by Hines Poland Sustainable Income Fund (HPSIF).
HPSIF announced the acquisition of the building from Kronos Real Estate on 28 July.
ING Bank Śląski SA has provided a bilateral senior term loan to co-finance the acquisition of this property. The value was not disclosed.
Ambassador is a Class A building completed in March 2013 offering 14,900 sq m of modern office space and 1,000 sq m of retail space on the ground floor.
The property is located at the junction of Domaniewska and Pecherska Streets, in the rapidly developing business district of Mokotów. Among the current office tenants are Coty Poland, Gras Savoye (Pol-Assistance), DSV, Ipsos and CBRE Corporate Outsourcing. The property is currently undergoing the BREEAM certification process.
The legal advisor to ING Bank Śląski was Norton Rose Fullbright.
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