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Alchemia III, Gdansk

CATEGORY
Investment Deal of the Year, CEE
Alchemia is a modern, mixed-use complex in Oliwa, a rapidly growing business hub in Gdansk. It’s an office complex consisting of 6 buildings that are to be completed in 4 phases. Alchemia III or Argon is the third building completed in September 2017. It is one of the largest free-standing office buildings in Poland and the most prestigious in the entire complex. It consists of 14-storeys above ground with total leasable area of nearly 38,000 sqm, of which over 36,000 sqm are class A offices. The facility has been awarded LEED Platinum certificate - the highest level achievable under the rating for Leadership in Energy and Environmental Design. Alchemia office complex is located in the middle of the Tri-City agglomeration at Grunwaldzka Avenue - the main artery of the Gdansk Metropolitan Area. The complex benefits from excellent public transport links, with numerous bus routes on its doorstep and direct access to the platform of the Fast City Train, interconnecting the whole conurbation Argon building’s ‘H’-shape design maximizes natural light and allows for the most optimal use of space. Furthermore, its innovative, energy-saving building solutions, high functionality and LEED rating system make it a trailblazer in the Tricity office market. Rows of restaurants take up the ground floor spaces at the facility offering tenants a wide array of food selection. The complex also benefits from the proximity to Gdansk University and the multifunction Olivia Sports and Entertainment Hall.
Name of the deal
Alchemia III, Gdansk
The date of closing the deal
March 5, 2019
Value of the transaction (in EUR)
92,000,000
Yield
Seller, plus brief information about the company
Torus is a property developer founded in Gdańsk in 2002, specializing in construction and lease of modern office space. In recent years, it had widened its scope of activities by investing in residential, hotel and industrial sectors. All developments signed with Torus logo offer modern solutions and high level of functionality. In 2006, Torus had constructed the first A-class business park in Gdańsk, Arkońska Business Park. This project was then followed by their most prominent development, Alchemia, which is a mixed-use business and retail center, in 2011. Alchemia consists of 6 office towers completed in 4 Phases. To date, all buildings have been sold to various investment entities.
Consultancy which advised Seller
Cushman & Wakefield
Purchaser, plus brief information about the company
Represented in the CEE by Krakow-based Augusta Cracovia, ISOC Group is a Philippine-based, diversified developer with various interests in cold chain logistics, infrastructure and property sectors. The company recently opened its state-of-the-art cold storage facilities, under the brand ORCA Cold Chain Logistics. Through ISOC Infrastructure, the Group was also the first to offer to build 25,000 common telecommunication tower all over the country in support of the Government’s aim of providing better, more reliable and faster telecommunications services.
Consultancy which advised Purchaser
Augusta Cracovia, JLL and Greenberg Traurig, LLP
Financing institution
BNP Paribas
Current occupancy level
93%
Please say why this deal should be considered for the award
Coming from the successful acquisition and positive market reception from its first office property – the Silesia Business Park (C&D), ISOC Group recognized the growth potential of the Polish property market and acquired its second property – the Alchemia III from Torus in March 2019. Three months after acquiring its first office property, ISOC Group instantly grew its portfolio by another 37,969 square-meters by buying its second property located in Grunwaldzka Avenue, Gdansk. The acquisition from Torus brought the Group’s total portfolio size to reach 62,587 square-meters. The nomination recognizes the Group’s ability to identify growth prospects in a foreign market and its ability to respond to the market’s growing demand for office spaces.