Divestment of the Generation Park Z office building in Warsaw to Deka Immobilien

Generation Park Z is part of the Generation Park modern office complex located in the heart of Warsaw, in one of the most desirable and fastest growing Warsaw city centre locations. The three-building complex offers ca. 87,000 sqm and benefits from very good transportation options including the second metro line, trams and buses in the immediate proximity to the Daszyńskiego Roundabout. Generation Park Z is fully leased to Vistra and Crido, among others. The property comprises a total leasable area of approx. 19,000 sqm and 110 underground parking places for cars, as well as 102 for bikes. It offers convenient infrastructure for cyclists and runners, including showers and changing rooms.
Common areas in Generation Park Z consist of many elements such as a tree in the main lobby or a mural inside the garage entrance. The property offers amenities – a restaurant and coffee shops. It also has a terrace on the 13th floor with a lot of greenery, which provides an excellent view on the neighborhood and is a great place to relax, work, organize company events or fitness activities. Generation Park Z provides easy access to the office complex patio, which includes green areas with a garden café, meeting points or bike infrastructure. The pavement on the patio and around the building is an innovative “green concrete”, which cleans the air of toxic compounds from car exhausts.
The building is equipped with Connected by Skanska which facilitates daily office management. Thanks to the adapted touch-less solutions, it enables users to move around the building using their smartphone instead of traditional access cards, and provides a virtual reception. The building features a parking system that will recognize license plates and allocate available spaces.
Generation Park Z has been LEED Platinum pre-certified and is applying for WELL certification. It was designed in accordance to the Building without Barriers certificate.
Name of the deal Divestment of the Generation Park Z office building in Warsaw to Deka Immobilien
Information about the transaction project/projects/portfolio Generation Park Z is part of the Generation Park modern office complex located in the heart of Warsaw, in one of the most desirable and fastest growing Warsaw city centre locations. The three-building complex offers ca. 87,000 sqm and benefits from very good transportation options including the second metro line, trams and buses in the immediate proximity to the Daszyńskiego Roundabout. Generation Park Z is fully leased to Vistra and Crido, among others. The property comprises a total leasable area of approx. 19,000 sqm and 110 underground parking places for cars, as well as 102 for bikes. It offers convenient infrastructure for cyclists and runners, including showers and changing rooms.
Common areas in Generation Park Z consist of many elements such as a tree in the main lobby or a mural inside the garage entrance. The property offers amenities – a restaurant and coffee shops. It also has a terrace on the 13th floor with a lot of greenery, which provides an excellent view on the neighborhood and is a great place to relax, work, organize company events or fitness activities. Generation Park Z provides easy access to the office complex patio, which includes green areas with a garden café, meeting points or bike infrastructure. The pavement on the patio and around the building is an innovative “green concrete”, which cleans the air of toxic compounds from car exhausts.
The building is equipped with Connected by Skanska which facilitates daily office management. Thanks to the adapted touch-less solutions, it enables users to move around the building using their smartphone instead of traditional access cards, and provides a virtual reception. The building features a parking system that will recognize license plates and allocate available spaces.
Generation Park Z has been LEED Platinum pre-certified and is applying for WELL certification. It was designed in accordance to the Building without Barriers certificate.
The date of closing the deal Q2 2020
Value of the transaction (in EUR) EUR 98M
Yield N/A
Seller, plus brief information about the company Skanska is the biggest office developer in Europe and the market leader in the CEE region. As an innovative developer of green, healthy and timeless office buildings, Skanska creates the perfect work environment for business development operating in 10 markets in Poland, Czech Republic, Hungary and Romania. Skanska’s investments fit into the environment, they are healthy and comfortable for employees and also meet the needs of the local community. Sustainability is one of the core values for the company, driving operations and business strategy at every level. In 2019 Skanska set a Group target to achieve net-zero carbon emissions by 2045, with a 50 percent reduction by 2030.
Consultancy which advised Seller Dentons
Purchaser, plus brief information about the company Deka Immobilien is the specialist for real estate investments within the Deka Group and is one of the largest globally active real estate fund companies in Germany. As an experienced real estate investor and asset manager, Deka possess proven expertise and comprehensive management competence for different market and investment cycles and have created sustained added value for their fund investors, tenants and business partners for more than five decades.
Consultancy which advised Purchaser Greenberg Traurig
Financing institution N/A
Current occupancy level 100%
Please say why this deal should be considered for the award Despite the COVID-19 pandemic, the lockdown and temporary investment freezes, Skanska has managed to conclude the transaction with Deka Immobilien (the preliminary sales agreement signed in March 2020!) It proves an exceptional trust between companies and commitment during the process. Combination of trustworthy Skanska brand and high-quality futureproof building leased to well-known tenants created a valuable and stable investment product, also for uncertain times. Divestment of Generation Park Z office building in Warsaw was the fourth Skanska’s transaction with Deka Immobilien in CEE. Skanska has been an active player on the Warsaw office market for years. GP Z is in one of the most desirable and fastest growing Warsaw city centre locations. In 2019, seventeen new office buildings were delivered in Warsaw with a total volume of 162,000 sq m and Generation Park Z was one of the three largest office developments among them, according to JLL.
Name of the deal
Divestment of the Generation Park Z office building in Warsaw to Deka Immobilien
Information about the transaction project/projects/portfolio
Generation Park Z is part of the Generation Park modern office complex located in the heart of Warsaw, in one of the most desirable and fastest growing Warsaw city centre locations. The three-building complex offers ca. 87,000 sqm and benefits from very good transportation options including the second metro line, trams and buses in the immediate proximity to the Daszyńskiego Roundabout. Generation Park Z is fully leased to Vistra and Crido, among others. The property comprises a total leasable area of approx. 19,000 sqm and 110 underground parking places for cars, as well as 102 for bikes. It offers convenient infrastructure for cyclists and runners, including showers and changing rooms.
Common areas in Generation Park Z consist of many elements such as a tree in the main lobby or a mural inside the garage entrance. The property offers amenities – a restaurant and coffee shops. It also has a terrace on the 13th floor with a lot of greenery, which provides an excellent view on the neighborhood and is a great place to relax, work, organize company events or fitness activities. Generation Park Z provides easy access to the office complex patio, which includes green areas with a garden café, meeting points or bike infrastructure. The pavement on the patio and around the building is an innovative “green concrete”, which cleans the air of toxic compounds from car exhausts.
The building is equipped with Connected by Skanska which facilitates daily office management. Thanks to the adapted touch-less solutions, it enables users to move around the building using their smartphone instead of traditional access cards, and provides a virtual reception. The building features a parking system that will recognize license plates and allocate available spaces.
Generation Park Z has been LEED Platinum pre-certified and is applying for WELL certification. It was designed in accordance to the Building without Barriers certificate.
The date of closing the deal
Q2 2020
Value of the transaction (in EUR)
EUR 98M
Yield
N/A
Seller, plus brief information about the company
Skanska is the biggest office developer in Europe and the market leader in the CEE region. As an innovative developer of green, healthy and timeless office buildings, Skanska creates the perfect work environment for business development operating in 10 markets in Poland, Czech Republic, Hungary and Romania. Skanska’s investments fit into the environment, they are healthy and comfortable for employees and also meet the needs of the local community. Sustainability is one of the core values for the company, driving operations and business strategy at every level. In 2019 Skanska set a Group target to achieve net-zero carbon emissions by 2045, with a 50 percent reduction by 2030.
Consultancy which advised Seller
Dentons
Purchaser, plus brief information about the company
Deka Immobilien is the specialist for real estate investments within the Deka Group and is one of the largest globally active real estate fund companies in Germany. As an experienced real estate investor and asset manager, Deka possess proven expertise and comprehensive management competence for different market and investment cycles and have created sustained added value for their fund investors, tenants and business partners for more than five decades.
Consultancy which advised Purchaser
Greenberg Traurig
Financing institution
N/A
Current occupancy level
100%
Please say why this deal should be considered for the award
Despite the COVID-19 pandemic, the lockdown and temporary investment freezes, Skanska has managed to conclude the transaction with Deka Immobilien (the preliminary sales agreement signed in March 2020!) It proves an exceptional trust between companies and commitment during the process. Combination of trustworthy Skanska brand and high-quality futureproof building leased to well-known tenants created a valuable and stable investment product, also for uncertain times. Divestment of Generation Park Z office building in Warsaw was the fourth Skanska’s transaction with Deka Immobilien in CEE. Skanska has been an active player on the Warsaw office market for years. GP Z is in one of the most desirable and fastest growing Warsaw city centre locations. In 2019, seventeen new office buildings were delivered in Warsaw with a total volume of 162,000 sq m and Generation Park Z was one of the three largest office developments among them, according to JLL.