CBRE's Development Consultancy team has assisted HB Reavis Group, a leading commercial property developer, in the purchase of Inflancka development site in Warsaw. The property was sold by Lubasa Polska.
The property is located in Warsaw at Inflancka 3 street, with a land area of ca. 28,700 m². The property holds a valid building permit.
This is the third large transaction by HB Reavis Group in Poland following their recent investments in Warsaw office market (Konstruktorska Business Centre and Warszawa Zachodnia). The transaction proves the intention of the international developer to become a substantial player on the Polish commercial property market. Construction at Inflancka will start in the first half of this year and the first phase will be completed towards the second quarter of 2014.
"Inflancka site was one of the best and most desired Warsaw's development sites and we would like to congratulate both sides for concluding such a successful transaction," said Mikoùaj Martynuska, Director of CBRE Development Consultancy Team.
"The acquisition has been a logical conclusion of our continuing interest in the Polish property market. This prime asset is a desired addition to our already very extensive project pipeline in Poland," said Stanislav Frnka, CEO of HB Reavis Poland.
"Furthermore, this transaction proves that underlying fundamentals of our Group are strong and financially sound with long-term commitment to the CEE market and beyond," added Marcel Sedlak, CIO of HB Reavis Group.
CBRE assisted the buyer, HB Reavis Group, working together with Ex Novo Consultancy firm based in Barcelona. Financial services were provided by La Caixa.