Małachowskiego Square

Małachowski Square comprised of around 12,200 sqm of class A office space upon 6 upper levels and around 2,300 sqm of high-end retail space located on the ground floor. This exceptional and majestic office building is located adjacent to Plac Pilsudskiego, one of Warsaw’s most prestigious addresses and the largest public square in the city – hosting many international and state events.
Originally constructed over a century ago (1907) as a luxury residence for Polish nobility, Małachowski Square has been resurrected as a modern office building (2013) that truly captures the original noncompromising approach towards quality, detail, and functionality. Two of Warsaw’s most prestigious hotels, Bristol and just completed Raffles are located in the direct vicinity,
The property is 98 percent leased with tenants including international law firm K & L Gates, global private equity firm CVC Capital Partners, the Polish law firm WBK, the co-working business space provider Rent24, the German bank Berlin Hyp, a number of boutique retailers and a restaurant.

Europa Capital and White Star Real Estate acquired Malachowski Square end of 2016 and were able to unravel a deadlocked position and created a truly core institutional product which is widely considered to be the best office building in Warsaw. When the Project was acquired it was only 28% leased and 14 months later the Building reached 90% leasing level. The actual sale process took only 3 months
Name of the deal Małachowskiego Square
Information about the transaction project/projects/portfolio Małachowski Square comprised of around 12,200 sqm of class A office space upon 6 upper levels and around 2,300 sqm of high-end retail space located on the ground floor. This exceptional and majestic office building is located adjacent to Plac Pilsudskiego, one of Warsaw’s most prestigious addresses and the largest public square in the city – hosting many international and state events.
Originally constructed over a century ago (1907) as a luxury residence for Polish nobility, Małachowski Square has been resurrected as a modern office building (2013) that truly captures the original noncompromising approach towards quality, detail, and functionality. Two of Warsaw’s most prestigious hotels, Bristol and just completed Raffles are located in the direct vicinity,
The property is 98 percent leased with tenants including international law firm K & L Gates, global private equity firm CVC Capital Partners, the Polish law firm WBK, the co-working business space provider Rent24, the German bank Berlin Hyp, a number of boutique retailers and a restaurant.

Europa Capital and White Star Real Estate acquired Malachowski Square end of 2016 and were able to unravel a deadlocked position and created a truly core institutional product which is widely considered to be the best office building in Warsaw. When the Project was acquired it was only 28% leased and 14 months later the Building reached 90% leasing level. The actual sale process took only 3 months
The date of closing the deal July 2018
Value of the transaction (in EUR) Confidential
Yield Record Warsaw yield
Seller, plus brief information about the company Europa Capital and White Star Real Estate
Europa Capital is a real estate fund manager focused on European markets. For more than 20 years, Europa Capital has been delivering risk-adjusted returns for a global audience of investors. We focus on investment returns driven by real estate fundamentals in both equity and debt strategies. Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 128 transactions totaling more than €10.9 billion across 19 European countries.
White Star Real Estate is a highly respected international real estate company with a first-class track record. Its team has been active in Central and Eastern Europe since 1997, leading the completion of over 50 development projects throughout the region. White Star is focused on providing clients with high quality, best of class, real estate asset, and property management services, as well as sourcing and developing real estate opportunities in the CEE markets.
Consultancy which advised Seller CBRE
Purchaser, plus brief information about the company Generali Real Estate is one of the world’s leading real estate asset managers, with around €29 billion of property assets across the globe as of H1 2018. It leverages on the expertise of more than 450 professionals, with operating units located in the main European cities through four macro-areas (Southern Europe, Western Europe, Central Northern Europe, and Central Eastern Europe).
Consultancy which advised Purchaser Savills
Financing institution Berlin Hyp
Current occupancy level 98%
Please say why this deal should be considered for the award The building offers high-quality space in one of the few historical buildings of this scale in the CBD of Warsaw. White Star Real Estate and Europa Capital managed to unravel a deadlocked position of the building and finally – to create a true core institutional product with the long income profile, prestigious tenants from a diversified array of industries and sectors, featuring names such as BerlinHyp, K&L Gates, WKB, CVC, Rent24 - all with spectacular fit-outs. The occupancy level has risen from circa 30% at acquisition to over 90% in less than two years – successfully sold at the record low yield in Warsaw. What is more, Malachowksiego square is widely considered to be the best office building in Warsaw.
Name of the deal
Małachowskiego Square
Information about the transaction project/projects/portfolio
Małachowski Square comprised of around 12,200 sqm of class A office space upon 6 upper levels and around 2,300 sqm of high-end retail space located on the ground floor. This exceptional and majestic office building is located adjacent to Plac Pilsudskiego, one of Warsaw’s most prestigious addresses and the largest public square in the city – hosting many international and state events.
Originally constructed over a century ago (1907) as a luxury residence for Polish nobility, Małachowski Square has been resurrected as a modern office building (2013) that truly captures the original noncompromising approach towards quality, detail, and functionality. Two of Warsaw’s most prestigious hotels, Bristol and just completed Raffles are located in the direct vicinity,
The property is 98 percent leased with tenants including international law firm K & L Gates, global private equity firm CVC Capital Partners, the Polish law firm WBK, the co-working business space provider Rent24, the German bank Berlin Hyp, a number of boutique retailers and a restaurant.

Europa Capital and White Star Real Estate acquired Malachowski Square end of 2016 and were able to unravel a deadlocked position and created a truly core institutional product which is widely considered to be the best office building in Warsaw. When the Project was acquired it was only 28% leased and 14 months later the Building reached 90% leasing level. The actual sale process took only 3 months
The date of closing the deal
July 2018
Value of the transaction (in EUR)
Confidential
Yield
Record Warsaw yield
Seller, plus brief information about the company
Europa Capital and White Star Real Estate
Europa Capital is a real estate fund manager focused on European markets. For more than 20 years, Europa Capital has been delivering risk-adjusted returns for a global audience of investors. We focus on investment returns driven by real estate fundamentals in both equity and debt strategies. Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 128 transactions totaling more than €10.9 billion across 19 European countries.
White Star Real Estate is a highly respected international real estate company with a first-class track record. Its team has been active in Central and Eastern Europe since 1997, leading the completion of over 50 development projects throughout the region. White Star is focused on providing clients with high quality, best of class, real estate asset, and property management services, as well as sourcing and developing real estate opportunities in the CEE markets.
Consultancy which advised Seller
CBRE
Purchaser, plus brief information about the company
Generali Real Estate is one of the world’s leading real estate asset managers, with around €29 billion of property assets across the globe as of H1 2018. It leverages on the expertise of more than 450 professionals, with operating units located in the main European cities through four macro-areas (Southern Europe, Western Europe, Central Northern Europe, and Central Eastern Europe).
Consultancy which advised Purchaser
Savills
Financing institution
Berlin Hyp
Current occupancy level
98%
Please say why this deal should be considered for the award
The building offers high-quality space in one of the few historical buildings of this scale in the CBD of Warsaw. White Star Real Estate and Europa Capital managed to unravel a deadlocked position of the building and finally – to create a true core institutional product with the long income profile, prestigious tenants from a diversified array of industries and sectors, featuring names such as BerlinHyp, K&L Gates, WKB, CVC, Rent24 - all with spectacular fit-outs. The occupancy level has risen from circa 30% at acquisition to over 90% in less than two years – successfully sold at the record low yield in Warsaw. What is more, Malachowksiego square is widely considered to be the best office building in Warsaw.

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