High5ive (phase I), Kraków, Poland

The transaction covers two prime office properties located in Krakow’s vibrant commercial market. Two buildings of the High5ive office project offer approx. 23,400 sqm GLA and were completed in Q1 and Q2 2018.
High5ive is a project that combines different energies generated by Krakow: diversity, creation, happiness and innovation. I phase of building implementation is a unique place located in the center of the city. The objects’ architecture fits into the urban tissue and refers to the closest surroundings - the Cracow University of Technology. The is a space between the buildings with special rest areas, water supply and the green patio which enjoys the eye of the users whatever time of the year. Right next to the office building on the wall of Galeria Krakowska, on the initiative of Skanska, was created a mural inspired by the works of S. Lem. For cyclists, the complex has an original concept called Bike5ive, taken from Scandinavian models, with an extensive infrastructure for lovers of two wheels: a bicycle center with a multi-storey car park, repair points, charging stations for electric bikes, and changing rooms with showers for cyclists.
Name of the deal High5ive (phase I), Kraków, Poland
Information about the transaction project/projects/portfolio The transaction covers two prime office properties located in Krakow’s vibrant commercial market. Two buildings of the High5ive office project offer approx. 23,400 sqm GLA and were completed in Q1 and Q2 2018.
High5ive is a project that combines different energies generated by Krakow: diversity, creation, happiness and innovation. I phase of building implementation is a unique place located in the center of the city. The objects’ architecture fits into the urban tissue and refers to the closest surroundings - the Cracow University of Technology. The is a space between the buildings with special rest areas, water supply and the green patio which enjoys the eye of the users whatever time of the year. Right next to the office building on the wall of Galeria Krakowska, on the initiative of Skanska, was created a mural inspired by the works of S. Lem. For cyclists, the complex has an original concept called Bike5ive, taken from Scandinavian models, with an extensive infrastructure for lovers of two wheels: a bicycle center with a multi-storey car park, repair points, charging stations for electric bikes, and changing rooms with showers for cyclists.
The date of closing the deal Q2 2018
Value of the transaction (in EUR) EUR 75m
Yield confidential
Seller, plus brief information about the company Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia, and the UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania, and Hungary, while the residential development is active in Prague and Warsaw. In 2017, Skanska had sales of SEK 37 billion and about 16,000 employees in its European operations.

With the largest presence in CEE among office developers, the company enjoys the trust of tenants and investors, who are willing to continue working together, expanding their businesses in Skanska’s other office buildings. The company provides futureproof flexible offices tailored to the needs of modern companies, meeting the highest requirements of sustainable development, which is confirmed by their LEED certification and implementation of newest solutions such as WELL standard.
Consultancy which advised Seller Colliers International with Cushman & Wakefield. Dentons was the legal adviser.
Purchaser, plus brief information about the company Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.5 billion. Niam offers global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over €7.5 billion through its own funds since 2000. Niam has a fully integrated investment team of 55+ dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen.
Consultancy which advised Purchaser Linklaters was the legal adviser.
Financing institution confidential
Current occupancy level 100%
Please say why this deal should be considered for the award This is Skanska’s second transaction with Niam in Polish regional cities, after a portfolio deal in 2015 (which included four properties in two cities). This proves that regional markets continue to attract investment. It is also a great achievement for Skanska as a developer because the partner chose to buy more office assets from the company. This Niam’s deal was also followed by Skanska’s Nowa Fabryczna acquisition in Lodz (March 2018) and Green2Day in Wroclaw (March 2018). The building is situated in a prime location in Krakow, near the Old Town and right next to the main railway station. It’s also the best quality asset in the city. Placemaking initiatives, like bike-sharing, cultural events or sports facilities, makes the whole Hgih5ive complex truly open to the local community, which was also appreciated both by tenants and the investor.
Name of the deal
High5ive (phase I), Kraków, Poland
Information about the transaction project/projects/portfolio
The transaction covers two prime office properties located in Krakow’s vibrant commercial market. Two buildings of the High5ive office project offer approx. 23,400 sqm GLA and were completed in Q1 and Q2 2018.
High5ive is a project that combines different energies generated by Krakow: diversity, creation, happiness and innovation. I phase of building implementation is a unique place located in the center of the city. The objects’ architecture fits into the urban tissue and refers to the closest surroundings - the Cracow University of Technology. The is a space between the buildings with special rest areas, water supply and the green patio which enjoys the eye of the users whatever time of the year. Right next to the office building on the wall of Galeria Krakowska, on the initiative of Skanska, was created a mural inspired by the works of S. Lem. For cyclists, the complex has an original concept called Bike5ive, taken from Scandinavian models, with an extensive infrastructure for lovers of two wheels: a bicycle center with a multi-storey car park, repair points, charging stations for electric bikes, and changing rooms with showers for cyclists.
The date of closing the deal
Q2 2018
Value of the transaction (in EUR)
EUR 75m
Yield
confidential
Seller, plus brief information about the company
Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia, and the UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania, and Hungary, while the residential development is active in Prague and Warsaw. In 2017, Skanska had sales of SEK 37 billion and about 16,000 employees in its European operations.

With the largest presence in CEE among office developers, the company enjoys the trust of tenants and investors, who are willing to continue working together, expanding their businesses in Skanska’s other office buildings. The company provides futureproof flexible offices tailored to the needs of modern companies, meeting the highest requirements of sustainable development, which is confirmed by their LEED certification and implementation of newest solutions such as WELL standard.
Consultancy which advised Seller
Colliers International with Cushman & Wakefield. Dentons was the legal adviser.
Purchaser, plus brief information about the company
Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.5 billion. Niam offers global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over €7.5 billion through its own funds since 2000. Niam has a fully integrated investment team of 55+ dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen.
Consultancy which advised Purchaser
Linklaters was the legal adviser.
Financing institution
confidential
Current occupancy level
100%
Please say why this deal should be considered for the award
This is Skanska’s second transaction with Niam in Polish regional cities, after a portfolio deal in 2015 (which included four properties in two cities). This proves that regional markets continue to attract investment. It is also a great achievement for Skanska as a developer because the partner chose to buy more office assets from the company. This Niam’s deal was also followed by Skanska’s Nowa Fabryczna acquisition in Lodz (March 2018) and Green2Day in Wroclaw (March 2018). The building is situated in a prime location in Krakow, near the Old Town and right next to the main railway station. It’s also the best quality asset in the city. Placemaking initiatives, like bike-sharing, cultural events or sports facilities, makes the whole Hgih5ive complex truly open to the local community, which was also appreciated both by tenants and the investor.

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