Develia, Polish real estate property development group executing commercial and residential investment projects in major cities in Poland, has disposed all of its shares (79.55%) in Sky Tower project. The purchaser is Adventum Group, a group of boutique investment fund management companies focused on Central European real estate investments. The price of the transaction was established at the level of EUR 84.27 million.
Sky Tower is the highest building in Wroclaw and one of the highest in Poland. It is a multifunctional complex comprising office, retail and residential functions. The property, erected in 2012 by DEVELIA (formerly LC Corp), is located in the heart of the city with superb public and private transport accessibility. It offers office space of almost 30,000 square metres GLA and retail and entertainment space of almost 24,000 square metres GLA. There are 1,062 parking places available.
Name of the deal
Sky Tower
The date of closing the deal
March 2022
Value of the transaction (in EUR)
EUR 84 million
Yield
x
Seller, plus brief information about the company
Develia
Consultancy which advised Seller
Avison Young
Purchaser, plus brief information about the company
Adventum Group
Consultancy which advised Purchaser
x
Financing institution
x
Current occupancy level
x
Please say why this deal should be considered for the award
- the most recognizable office tower in Wrocław
- big deal in regional city
