News Article | 1/27/2015

Menard Doswell, Hillwood Europe sign JV with PHN

Menard Doswell & Co. and Hillwood Europe sealed a JV agreement this week with the Polish Real Estate Holding (PHN) to develop Parzniew Logistic Hub. The 95,000 sqm complex is set to go up in the town of Brwiny, near Pruszków, with direct connections to Poland’s A2 motorway. The joint venture agreement will be signed as soon as the companies meet all legal conditions. The project will be delivered in four phases, with completion set for 2021.

“Parzniew Logistic Hub will be one of the first development projects for us on the Polish market, which is in line with our long-term strategy in Europe,” said John Thomas, president of Hillwood Europe. “Our success on the American warehouse market has encouraged us to expand in Europe, within which Poland plays an important role.”

“Due to the highly attractive location of the project, we’ve been looking for international partners for this investment. The scheme has attracted many investors in its initial stage, and we’re confident about the decision we took while selecting our partners,” said Artur Lebiedzinski, chairman of PHN.