HB Reavis has sold two Warsaw office buildings to Savills Investment Management (Savills IM) for over €200m. A part of Gdanski Business Center scheme, the assets provide 53,000m² of GLA. The transaction marks the biggest transaction of this kind in Poland in 2018.
Completed in 2016, Gdanski Business Center is the best-connected office development in Warsaw with unrivalled access to public transportation. Boasting 100% occupancy rate, the whole business campus is now home to around 10,000 employees working at a number of well-known institutions including Aviva Group, KPMG, Nielsen, Euronet, BGZ BNP Paribas, GE and the Court of Appeals to name a few. The first two out of the four office buildings totalling 48,000m² were sold in December 2016 for €186m, also to Savills IM on behalf of the same client.
Powered by energy from renewable sources, the buildings have been awarded sustainable BREEAM Excellent standard.
Jon Crossfield, Head of Strategic Partnerships at Savills IM also commented: “We are delighted to have completed another successful transaction on behalf of our client and gain control over the entire complex at Gdanski Business Center. The scheme offers a unique combination of facilities and location, let at attractive rental levels and proven success with a wide range of first-class occupiers. The deal also marks another large investment into Poland, a country in which we have made significant investments totalling nearly €1bn in the last two years.”
Greenberg Traurig advised HB Reavis, while Savills Investment Management was advised by Clifford Chance and K+S Ingenieure.
