West Link

West Link is a modern class A office building developed at Na Ostatnim Groszu St. in Wroclaw - right next to the West Gate project. West Link offers a total area of over 14,000 sqm and is fully leased by international, renowned companies - Nokia and Hilti. As art should be part of our daily lives, in front of the building people can admire every day the sculpture by Oskar Zięta, the well-thought-of artist, designer and architect. The six-meter work has a shape of a clover, being made of over 1500 kg of Venetian steel and 108 meters of welds line were used.
Name of the deal West Link
Information about the transaction project/projects/portfolio West Link is a modern class A office building developed at Na Ostatnim Groszu St. in Wroclaw - right next to the West Gate project. West Link offers a total area of over 14,000 sqm and is fully leased by international, renowned companies - Nokia and Hilti. As art should be part of our daily lives, in front of the building people can admire every day the sculpture by Oskar Zięta, the well-thought-of artist, designer and architect. The six-meter work has a shape of a clover, being made of over 1500 kg of Venetian steel and 108 meters of welds line were used.
The date of closing the deal May 25th , 2018
Value of the transaction (in EUR) 35,8 mln euro
Yield 7.7%
Seller, plus brief information about the company Echo Investment - the largest Polish development company which builds projects in the office, retail and residential sectors. Company’s strategy envisages cooperation with its majority shareholder on market basis. Companies from the PIMCO-Oaktree-Griffin group can commission Echo Investment to carry out development, consulting and rental services. They can also be co-investors of development projects or potential buyers of newly-built retail, office or residential projects. Echo Investment’s ambition is to build large, mixed-use and city-forming projects. The company wants to create places where city residents can function, which are convenient for working, living, entertaining and satisfying all needs. The projects carried out by Echo Investment are meant to promote an urban lifestyle and attract people all day long.
Consultancy which advised Seller Linklaters (legal)
Purchaser, plus brief information about the company Globalworth - a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland, where the Company has a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 170 professionals across Romania and Poland, the combined value of its portfolio is in excess of €2 billion, as at 30 June 2018. Over 90% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 510 national and multinational corporates.
Consultancy which advised Purchaser Weil (Legal), Deloitte (fin-tax), Arcadis (technical)
Financing institution Globalworth – self financing
Current occupancy level 100%
Please say why this deal should be considered for the award West Link is a top-class office project in an excellent location, which perfectly complemented Wrocław’s portfolio of Globalworth. The transaction also cemented partnership between Globalworth and Echo Investment as it was another successful cooperation between the two companies. West Link is also a perfect example of an office building that was meant to be a success from the very beginning. It was 100 percent leased before opening and sold to its new owner in the course of construction. What’s more, this office scheme provides something more than workspace, it can be also considered as element of a well-planned urban area. In front of the building everyone can admire the sculpture by Oskar Zięta, the well-thought-of artist, designer and architect. The six-meter work, which was made by typical for this artist FiDU technology, has a shape of a clover. Such elements of the buildings’ surroundings are to stimulate creativity and improve mutual relations.
Name of the deal
West Link
Information about the transaction project/projects/portfolio
West Link is a modern class A office building developed at Na Ostatnim Groszu St. in Wroclaw - right next to the West Gate project. West Link offers a total area of over 14,000 sqm and is fully leased by international, renowned companies - Nokia and Hilti. As art should be part of our daily lives, in front of the building people can admire every day the sculpture by Oskar Zięta, the well-thought-of artist, designer and architect. The six-meter work has a shape of a clover, being made of over 1500 kg of Venetian steel and 108 meters of welds line were used.
The date of closing the deal
May 25th , 2018
Value of the transaction (in EUR)
35,8 mln euro
Yield
7.7%
Seller, plus brief information about the company
Echo Investment - the largest Polish development company which builds projects in the office, retail and residential sectors. Company’s strategy envisages cooperation with its majority shareholder on market basis. Companies from the PIMCO-Oaktree-Griffin group can commission Echo Investment to carry out development, consulting and rental services. They can also be co-investors of development projects or potential buyers of newly-built retail, office or residential projects. Echo Investment’s ambition is to build large, mixed-use and city-forming projects. The company wants to create places where city residents can function, which are convenient for working, living, entertaining and satisfying all needs. The projects carried out by Echo Investment are meant to promote an urban lifestyle and attract people all day long.
Consultancy which advised Seller
Linklaters (legal)
Purchaser, plus brief information about the company
Globalworth - a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland, where the Company has a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 170 professionals across Romania and Poland, the combined value of its portfolio is in excess of €2 billion, as at 30 June 2018. Over 90% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 510 national and multinational corporates.
Consultancy which advised Purchaser
Weil (Legal), Deloitte (fin-tax), Arcadis (technical)
Financing institution
Globalworth – self financing
Current occupancy level
100%
Please say why this deal should be considered for the award
West Link is a top-class office project in an excellent location, which perfectly complemented Wrocław’s portfolio of Globalworth. The transaction also cemented partnership between Globalworth and Echo Investment as it was another successful cooperation between the two companies. West Link is also a perfect example of an office building that was meant to be a success from the very beginning. It was 100 percent leased before opening and sold to its new owner in the course of construction. What’s more, this office scheme provides something more than workspace, it can be also considered as element of a well-planned urban area. In front of the building everyone can admire the sculpture by Oskar Zięta, the well-thought-of artist, designer and architect. The six-meter work, which was made by typical for this artist FiDU technology, has a shape of a clover. Such elements of the buildings’ surroundings are to stimulate creativity and improve mutual relations.

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