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Sale of Gdański Business Center I

CATEGORY
Investment deal of the year, CEE
On the 1st of December 2016, international real estate developer HB Reavis and Savills Investment Management on behalf of a Global Pension Fund client, concluded the sale agreement of two of buildings within Gdanski Business Center in Warsaw. In one of the largest transactions of 2016 in Poland and also in the CEE region amounting to €186 million, Savills Investment Management has acquired buildings A and B of the Gdanski Business Center, totalling 48,000 sq m.
Name of the deal
Sale of Gdański Business Center I
The date of closing the deal
December 2016
Value of the transaction (in EUR)
186 mln EUR
Yield
not disclosed
Seller, plus brief information about the company
HB Reavis Group operates in office and commercial real estate. As an integrated, pan-European developer, the company designs, develops and manages buildings, carries out investment management and creates co-working spaces. The company’s mission is to bring remarkable experiences to people’s lives through its real estate solutions. That is why HB Reavis buildings have a positive impact on the efficiency and well-being of their users and local communities.

With assets totalling EUR 2.1 billion and over 600 employees, HB Reavis is at the forefront of the European real estate market. The company currently operates in Poland, the United Kingdom, the Czech Republic, Slovakia, Hungary, Germany and Turkey, having completed 37 buildings with a total area of 1.2 million sq m to date. A total of over 60,000 people work in HB Reavis buildings every day.
Consultancy which advised Seller
JLL, Cushman & Wakefield and Greenberg Traurig advised HB Reavis on the deal.
Purchaser, plus brief information about the company
Savills Investment Management is an international real estate investment manager with offices in Copenhagen, Frankfurt, Hamburg, Hong Kong, Jersey, London, Luxembourg, Madrid, Milan, Munich, Paris, Singapore, Stockholm, Sydney and Tokyo. As at 31 March 2016, Savills Investment Management managed a total of c.€17 billion of assets.
Consultancy which advised Purchaser
Savills, Clifford Chance and K+S Ingenieure advised Savills Investment Management.
Financing institution
-
Current occupancy level
100%
Please say why this deal should be considered for the award
One of the largest investment deals of 2016 in Poland and also in Central and Eastern Europe amounted to €186 million. The transaction came shortly after HB Reavis sold its Konstruktorska Business Center to Golden Star Estate B.V. in the developer’s first divestment in the Polish market. HB Reavis strong transaction track record in 2016 across number of markets, has demonstrated not only the quality and attractiveness of its assets, but also persisting confidence of institutional investors in the European markets despite the recent uncertainties across Europe following the UK’s vote to leave the EU.