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sale of Gdanski Business Center II

CATEGORY
Investment Deal of the Year, CEE
Offering ca. 53,000 sq m buildings C and D are part of ca. 100.000 sq m Gdanski Business Center scheme delivered by HB Reavis. Among the largest such developments in Warsaw, Gdanski Business Center is a clever mix of well-connected business space, many amenities on its doorstep and an open to public green courtyard. Rooftop terraces available to tenants and vibrant ground floors including fitness centre, restaurants, cafes and a kindergarten with dedicated playground on-site have become highly valued not just by employees, but also residents and visitors alike. Completed in 2016, Gdanski Business Center is the best-connected office development in Warsaw with unrivalled access to public transportation. Boasting 100% occupancy rate, the whole business campus is now home to around 10,000 employees working at a number of well-known institutions including Aviva Group, KPMG, Nielsen, Euronet, BGŻ BNP Paribas, GE and the Court of Appeals to name a few. Conveniently located near a railway and metro station, numerous tram and bus stops, with easy access to urban bike rental, it reduces dependency on car travel. Powered by energy from renewable sources, the buildings have been awarded sustainable BREEAM Excellent standard.
Name of the deal
sale of Gdanski Business Center II
The date of closing the deal
August 2018
Value of the transaction (in EUR)
200 million
Yield
N/A
Seller, plus brief information about the company
HB Reavis’ mission is to bring remarkable experiences to people’s lives through our real estate solutions. The people who experience our developments are our main focus - our aim is to deliver great spaces that enhance productivity, well-being and the overall experience for those that use them as well as the surrounding communities. As an international workspace provider, we design, build and manage our buildings, from bespoke headquarters and retail malls to co-working spaces. We also act as an investment manager. HB Reavis operates in the UK, Poland, the Czech Republic, Slovakia and Hungary while exploring development opportunities in Germany. With capital exceeding £1.2 billion and a team of 700 people, we’re proud to say that HB Reavis is among the international market leaders in real estate.
Consultancy which advised Seller
Greenberg Traurig
Purchaser, plus brief information about the company
Savills Investment Management – is an international real estate investment manager with offices in Amsterdam, Copenhagen, Frankfurt, Hamburg, Hong Kong, Jersey, London, Luxembourg, Madrid, Milan, Munich, Paris, Shanghai, Singapore, Stockholm, Sydney, Tokyo and Warsaw As at October 2018, Savills Investment Management manages total assets of around €17.25 billion worldwide and has a team of 300 investment professionals. Within the last 24 months the team within SIM has executed transactions of c.€2bn on behalf of our Asian clients in Europe, including Poland. Savills Investment Management is regulated in the UK, Italy, Germany, Jersey, Japan. Luxembourg, Australia, Singapore and Hong Kong.
Consultancy which advised Purchaser
Clifford Chance, JLL, KPMG and K+S Ingenieure
Financing institution
N/A
Current occupancy level
100%
Please say why this deal should be considered for the award
This is the largest transaction in the Polish office market this year and one of the largest in the Central European region. The purchaser acted on behalf of a global pension fund client, who after acquiring the I phase of Gdanski Business Center in 2016 for €186 million, now own the entire scheme.