Name of the deal
High5ive (phase I), Kraków, Poland
The date of closing the deal
Q2 2018
Value of the transaction (in EUR)
EUR 75m
Seller, plus brief information about the company
Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia, and the UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania, and Hungary, while the residential development is active in Prague and Warsaw. In 2017, Skanska had sales of SEK 37 billion and about 16,000 employees in its European operations.
With the largest presence in CEE among office developers, the company enjoys the trust of tenants and investors, who are willing to continue working together, expanding their businesses in Skanska’s other office buildings. The company provides futureproof flexible offices tailored to the needs of modern companies, meeting the highest requirements of sustainable development, which is confirmed by their LEED certification and implementation of newest solutions such as WELL standard.
Consultancy which advised Seller
Colliers International with Cushman & Wakefield. Dentons was the legal adviser.
Purchaser, plus brief information about the company
Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.5 billion. Niam offers global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has invested over €7.5 billion through its own funds since 2000. Niam has a fully integrated investment team of 55+ dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen.
Consultancy which advised Purchaser
Linklaters was the legal adviser.
Financing institution
confidential
Current occupancy level
100%
Please say why this deal should be considered for the award
This is Skanska’s second transaction with Niam in Polish regional cities, after a portfolio deal in 2015 (which included four properties in two cities). This proves that regional markets continue to attract investment. It is also a great achievement for Skanska as a developer because the partner chose to buy more office assets from the company. This Niam’s deal was also followed by Skanska’s Nowa Fabryczna acquisition in Lodz (March 2018) and Green2Day in Wroclaw (March 2018). The building is situated in a prime location in Krakow, near the Old Town and right next to the main railway station. It’s also the best quality asset in the city. Placemaking initiatives, like bike-sharing, cultural events or sports facilities, makes the whole Hgih5ive complex truly open to the local community, which was also appreciated both by tenants and the investor.