HANSAINVEST Real Assets has acquired Generation Park Y, the last building of the Generation Park office complex in Warsaw. The transaction volume is €285m, which makes it the largest office sale in the history of Skanska’s commercial development business unit in CEE and at the same time the largest sale in the office sector in CEE in 2021. Generation Park Y is HANSAINVEST Real Assets’ fourth acquisition from Skanska.
Generation Park Y is a 38-storey building (140 meters) crowning of Skanska’s largest office development project in Warsaw situated at Rondo Daszynskiego (Wola District), with a total leasable area of around 88,000m². It is not only Skanska’s first skyscraper in CEE but also a great example of the company’s commitment to ESG. The tower has a leasable area of 47,600m², and 100% of its office space is leased for ten years to leading Polish insurance company PZU for its headquarters. Generation Park Y, which was completed in the first quarter of 2021, was designed and built according to ESG principles in line with environmental and social aspects. It has already received recognitions to prove this in the form of the LEED Core & Shell Platinum certificate and WELL Health-Safety Rating. Generation Park Y is also applying for WELL Core & Shell and Building without Barriers certification.
"Being our first skyscraper in CEE, Generation Park Y is our flagship project not only in Poland but also in the entire region. Therefore, we are happy that our asset was again chosen by our long-term business partner HANSAINVEST Real Assets. This new acquisition, alongside its scale on the market in 2021, confirms that the whole Generation Park project is of the highest quality and has been built according to ESG principles. This is what distinguishes our projects on the market," said Arkadiusz Rudzki, Executive Vice President Leasing & Sales at Skanska’s commercial development business unit in CEE.
"Core office properties fulfilling ambitious ESG criteria continue to be sustainable long-term investments, particularly new developments in dynamic markets such as Warsaw or comparable metropolitan areas. Generation Park Y, therefore, fits very well into our overall acquisition strategy. We are looking forward to further diversifying our European and US real estate portfolio in 2022," commented Nicholas Brinckmann, Speaker of the Board of HANSAINVEST Real Assets.
