Eastnine has acquired the newly built office property Nowy Rynek E in Poznan, Poland, for €79.3m. The acquisition means that Eastnine’s rental income will increase by €5.95m to €42.4m on an annual basis. After the acquisition, Eastnine is the largest owner of office properties in Poznan.
”With this acquisitio, we achieve a leading position in Poznan and become an important player in the city. We are adding a property with strong tenants, long leases and good opportunities to offer our customers flexible solutions in the short and long term,” said Eastnine’s CEO Kestutis Sasnauskas. ”Poland is an interesting market where we want to continue growing, with a focus on Warsaw.”
Nowy Rynek E, which comprises 28,800m2 of lettable area and 234 garage spaces, was completed by the seller Skanska in 2023. The property is 89% let to about ten tenants. Rent for the remaining area is guaranteed by the seller. Among the tenants are the management consulting firm McKinsey. Bank Pekao and Business Link.
The property is located adjacent to the property Nowy Rynek D, which Eastnine acquired in May 2022. The location in central Poznan, close to the central station, tram, and the old town, is optimal.
The acquisition is financed by a green loan from Berlin Hyp, one of the leading German real estate banks, and with cash.
Image source - Cision.
Europe Real Estate — an overview of real estate developments in European countries.
