Hillwood Poland and Millennium Bank continue their cooperation
Hillwood, a leading developer of manufacturing and warehousing spaces, signed with a loan agreement Millennium Bank, worth over 26.3 million EUR for the construction of the first stage of a logistics park in Zgierz.
The Hillwood Zgierz park is located in central Poland, 2.5 km from the entrance onto the A2 motorway and 15.5 km from a junction with the A1 motorway. The Class A warehousing building with 58,000 sqm of space will feature a storage height of 12 meters, fire resistance of +4000 MJ/sqm and floor load capacity increased to 8 t/sqm
Moreover, with sustainability in mind, the developer has put in place a number of green solutions, including a photovoltaic farm, and the facility itself will be BREEAM-certified at the Excellent level.
“Cooperation with a partner such as Millennium Bank is a great support in investing. We appreciate the professional service provided at every stage, in particular the efficient negotiations of financing parameters, quick credit decision and the effective process of negotiating credit documentation”, says Hubert Michalak, President of the Board at Hillwood Poland.
“We are happy to partner with Hillwood in completing their project in Poland already for the tenth time. The facility we have financed will be modern and environmentally friendly, which means it is going to perfectly fit the Millennium Bank’s strategy of supporting sustainability-based ventures”, says Renata Grzywacz, Head of Structured and Real Estate Finance, Millennium Bank.
Throughout the process of financing the Hillwood Zgierz investment, Millennium was supported by the CMS Cameron McKenna Nabarro Olswang law firm. Hillwood Poland was supported by Clifford Chance.
Hillwood is one of the global commercial real estate leaders with over 30 years of expertise in investments throughout Europe and North America. The company has built over 20 million sqm of warehousing space worldwide, including over a million in Poland.
Hillwood has been present in the Polish market since 2014, building modern logistics and commercial centers for lease, also in the BTS (built-to-suit) model. The company also deals with acquisitions and property management. Hillwood Poland is active in the main warehousing markets, such as Warsaw, Central Poland, Wrocław and Upper Silesia, also investing in new, prospective locations, such as Częstochowa, Kutno or Świebodzin.
Current information about the Hillwood Poland offer is available here.