Skanska sells office project in Krakow for €29 million (PL)

Skanska has sold one of the buildings of its office project Kapelanka 42, Krakow, Poland. The building was acquired by a special purpose vehicle of REINO Dywidenda FIZ, the first dividend real estate closed-end investment fund set up and managed by REINO Partners.
The value of the transaction totals €29 million, about SEK263 million. The sale will be recorded in the fourth quarter 2014 and the transfer of the property is also scheduled for the fourth quarter 2014.
Kapelanka 42 is the first project developed by Skanska Property Poland in Krakow. The total leasable area of this A class office complex, comprising two buildings, is around 30,000 m². The sold building offers approximately 11,700 m² of leasable area. It was completed in the second quarter 2014 and is already 88% leased, attracting top brands tenants such as Tesco, Apriso and Sygnity.
Both buildings are LEED Gold precertified.
Skanska Commercial Development Europe initiates and develops property projects in office and commercial buildings. The company’s operations are concentrated in metropolitan areas in the Czech Republic, Hungary, Romania and Poland and are conducted in four local units: Skanska Property Czech Republic, Skanska Property Hungary, Skanska Romania and Skanska Property Poland.
Source: Skanska