Acquisition of Sterlinga Business Center and Neptun Office Center
CATEGORY
Investment Deal of the Year, CEE
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide.
Name of the deal
Acquisition of Sterlinga Business Center and Neptun Office Center
Value of the transaction (in EUR)
56.5 mln EUR
Yield
Total of 30,000 sq m GLA
Consultancy which advised Seller
CBRE, Dentons, Crido
Purchaser, plus brief information about the company
The GTC Group is one of the leading commercial real estate companies in Central, Eastern and Southern Europe. Since 1994, the Group has been developing high standard, modern office and retails properties through CEE region. GTC actively manages real estate portfolio of 36 commercial real estate projects providing over 594 000 sq m of office and retail space to its highly demanding tenants and customer in Poland, Serbia, Hungary, Romania, Croatia and Bulgaria.
Consultancy which advised Purchaser
Hogan Lovells, JLL, KPMG and Aecom
Financing institution
Own funds and Pekao
Current occupancy level
Neptun Office Center: 72% occupancy; Sterlinga Business Center: 94% occupancy.
Please say why this deal should be considered for the award
Neptun Office Center is the only high-rise office building in the Tri-City offering its tenants a high profile office accommodation in a prime location with excellent public transportation links. Whereas Sterlinga Business Center is a class A, office building in the center of Łódź offering 13,895 sq. m of modern leasable space on 9 floors. Tenant car park is located on two underground floors and provides a total of 203 parking spaces. The acquisition strengthens GTC’s position in regional office markets in Poland which enables the company to participate in their investment potential. Both, Neptun Office Center and Sterlinga Business Center are to further contribute to GTC’s recurrent income, value creation and enhance our presence on the fast growing regional markets.
