Hines Poland Sustainable Income Fund (EBRD-45893)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Poland
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 12, 2014
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Hines Poland Management Company S.à r. l.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 54.65 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 50
Converted using 2016-02-26 exchange rate.
Project Cost (USD)
$ 185.19 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 155
Converted using 2016-02-26 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 4, 2024

Disclosed by Bank Mar 17, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

This project commits EBRD funds to the Hines Poland Sustainable Income Fund, a fund seeking to generate profit through investments in sustainable real estate assets in Poland, with a focus on office and warehouse segments.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The EBRD categorized project risks as 'FI'.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

HINES PROPERTY FUND is managed by Hines Poland Management Company S.à r. l., a limited liability company organised under the laws of Luxembourg. Hines is an international real estate firm established in 1957. The firm has presence in 199 cities around the globe and has USD 87 billion assets under management, with a portfolio of 531 properties with over 186 million square feet (17 million square meters).

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Pitchbook, Hines Poland Sustainable Income Fund is a real estate opportunistic fund managed by Hines (Poland). The fund is based in Warsaw, Poland, and invests in Poland. The fund focuses on office, retail and industrial assets and targets commercial services, manufacturing, industrial, business products and services sectors.

As stated by the EBRD, the Fund is managed by Hines Poland Management Company S.à r. l., a limited liability company organised under the laws of Luxembourg.

Hines is a reputable international real estate firm established in 1957. The firm has presence in 199 cities around the globe and has USD 87 billion assets under management, with a portfolio of 531 properties with over 186 million square feet (17 million square meters).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Hines Interests Limited Partnership Parent Company Finance

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Financial Intermediary - Hines Poland Management Company S.à r. l.:

Mieczyslaw Godzisz, Senior Managing Director, Hines Poland
Email: mietek.godzisz@hines.com
Phone: + 48 22 351 24 00 / +48 22 351 24 01
Website: www.hines.com
Address: ul. Bonifraterska 17 00-203 Warsaw, Poland

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD’s own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

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