Sale of D48 (office building, Warsaw)

D48, a modern A-class office building in Warsaw’s Mokotów district, was commissioned in August 2017. The L-shape building consists of two wings with a height of 11 and 8 floors and a total area of 26 173 sq m, of which 24 312 sq m occupy office, and 1 861 sq m commercial part. Bus and tram stops, SKM fast city rail, airport and S79 expressway are in close proximity to the property.
Name of the deal Sale of D48 (office building, Warsaw)
Information about the transaction project/projects/portfolio D48, a modern A-class office building in Warsaw’s Mokotów district, was commissioned in August 2017. The L-shape building consists of two wings with a height of 11 and 8 floors and a total area of 26 173 sq m, of which 24 312 sq m occupy office, and 1 861 sq m commercial part. Bus and tram stops, SKM fast city rail, airport and S79 expressway are in close proximity to the property.
The date of closing the deal April 2020
Value of the transaction (in EUR) 73.1 million EUR
Yield 6.6%
Seller, plus brief information about the company Penta Real Estate - formed by separating the real estate division from the company Penta Investments, whose origins date back to 1994. Penta Group entered the real estate sector in 2005 and since this time is has become a leader on the real estate market in Slovakia and the Czech Republic.
Consultancy which advised Seller Cushman & Wakefield
Purchaser, plus brief information about the company IAD Investments - the oldest Slovak asset management company that has provided financial services in Central European countries since 1991.
Consultancy which advised Purchaser Middlecap
Financing institution Santander Bank
Current occupancy level 98%
Please say why this deal should be considered for the award Spectacular COME BACK of Investment transaction in Mokotow Office Market after many years of bad Mordor PR. The lowest yield achieved in Służewiec Przemysłowy in last 10 years.
Name of the deal
Sale of D48 (office building, Warsaw)
Information about the transaction project/projects/portfolio
D48, a modern A-class office building in Warsaw’s Mokotów district, was commissioned in August 2017. The L-shape building consists of two wings with a height of 11 and 8 floors and a total area of 26 173 sq m, of which 24 312 sq m occupy office, and 1 861 sq m commercial part. Bus and tram stops, SKM fast city rail, airport and S79 expressway are in close proximity to the property.
The date of closing the deal
April 2020
Value of the transaction (in EUR)
73.1 million EUR
Yield
6.6%
Seller, plus brief information about the company
Penta Real Estate - formed by separating the real estate division from the company Penta Investments, whose origins date back to 1994. Penta Group entered the real estate sector in 2005 and since this time is has become a leader on the real estate market in Slovakia and the Czech Republic.
Consultancy which advised Seller
Cushman & Wakefield
Purchaser, plus brief information about the company
IAD Investments - the oldest Slovak asset management company that has provided financial services in Central European countries since 1991.
Consultancy which advised Purchaser
Middlecap
Financing institution
Santander Bank
Current occupancy level
98%
Please say why this deal should be considered for the award
Spectacular COME BACK of Investment transaction in Mokotow Office Market after many years of bad Mordor PR. The lowest yield achieved in Służewiec Przemysłowy in last 10 years.