Golub GetHouse is a real estate, investment and development company with over 50 years' experience in real estate market in the United States and Europe. In Poland, apart from Prime Corporate Center, Golub GetHouse has so far developed such office buildings as: Warsaw Financial Center, International Business Center and Warsaw Corporate Center. Currently, in joint venture with Mennica Polska, Golub GetHouse is developing the Mennica Legacy Tower.
Name of the deal
Prime Corporate Center, Warsaw
Value of the transaction (in EUR)
90 Mio. EUR Gross Purchase Price
Yield
confidential
Consultancy which advised Seller
Savills (and JLL), Clifford Chance, Hill International
Purchaser, plus brief information about the company
Warburg-HIH Invest Real Estate (WHIH) is a real estate investment manager serving institutional investors and covering the entire spectrum of national and international real estate investments. WHIH is one of Germany's leading managers of special AIF, with real estate AUM of EUR 5.7 billion. WHIH can demonstrate a comprehensive track record in designing and implementing bespoke investment solutions. WHIH,
as a quality provider, supplies products and services with added value.
Please say why this deal should be considered for the award
Factual Justification
Prime Corporate Center’s prominent location in the growing new CBD of Wola and the metropolis of Warsaw in general, the excellent access to the public commuter railway system and last but not least the outstanding quality of the property makes this acquisition a highly attractive medium to long-term investment for Warburg-HIH Invest and its investors. The nature of a ten years lease shall weather the current oversupply of new developments in Warsaw and is anticipated to be released in an environment when Wola has been even more established with a set of new skyline and amenities as a newest generation shopping center, restaurants and residential. A true new 24/7 neighborhood.
Emotional Substantiation:
The parties have met early stages in the process discussing the development as forward purchase opportunity. Since then and throughout the whole process, including a tender the parties somehow stood close resulting in a successful transaction.
