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Business Garden Wroclaw Phase 1

CATEGORY
Investment Deal of the Year, CEE
Business Garden Wroclaw, located at 48 Legnicka Street, is a nine-building office complex designed to create a comfortable and inspiring working environment. Of the nine buildings, ISOC Group had acquired Phase 1, comprising of three 6-storey, A class office buildings and a standalone restaurant pavilion located at the center of the complex. Phase 1, completed in 4Q 2016, provides a total area of 38,575 sq.m. which includes an office component with a GLA of 37, 468 sq.m. The facility has a prestigious LEED Platinum certificate. The office complex is located close to the city center and within the vicinity of the Magnolia shopping and entertainment center, the largest retail center in the region. It is also near key traffic arteries and is conveniently connected to excellent public transport. Presence of bus, train and tram lines connect the complex to the city center and other major districts within Wroclaw. Aside from the use of state-of-the-art building technology, another key attraction of the complex is a spacious, open garden, available to employees. The garden creates a relaxing atmosphere, while the presence of basketball and volleyball courts enable employees to enjoy outdoor sports activities. The complex also offers infrastructure for cyclists - bicycle parking, showers and lockers in the underground and bike rental systems.
Name of the deal
Business Garden Wroclaw Phase 1
The date of closing the deal
May 15, 2019
Value of the transaction (in EUR)
95,000,000
Yield
Seller, plus brief information about the company
Vastint Group is an international real estate developer with almost 30 years experience. The company has been active in the Polish market since 1992, and the cornerstones of its operations include the management of portfolio properties and the development of commercial real estate – office buildings and business parks and hotels, in addition to residential and multi-functional projects. In many cases, Vastint has also been involved in master planning process. The schemes of Vastint’s projects are widely recognized for providing a modern corporate image, combined with functionality and eco-friendly solutions. Apart from Poznań and Wrocław office parks, Vastint is also responsible for developing Riverview, an exclusive residential project located in the historical part of Gdansk, Business Garden office complex in Warsaw, comprising over 90,000 sq.m. of office GLA and the prestigious Gdynia waterfront mixed-use scheme.
Consultancy which advised Seller
Colliers International and Magnusson
Purchaser, plus brief information about the company
Represented in the CEE by Krakow-based Augusta Cracovia, ISOC Group is a Philippine-based, diversified developer with various interests in cold chain logistics, infrastructure and property sectors. The company recently opened its state-of-the-art cold storage facilities, under the brand ORCA Cold Chain Logistics. Through ISOC Infrastructure, the Group was also the first to offer to build 25,000 common telecommunication tower all over the country in support of the Government’s aim of providing better, more reliable and faster telecommunications services.
Consultancy which advised Purchaser
Augusta Cracovia, Cushman and Wakefield and Hogan Lovells
Financing institution
HSBC
Current occupancy level
80%
Please say why this deal should be considered for the award
Realizing the Polish market’s positive reception to foreign investors, ISOC Group acquired its third and biggest property the Business Garden Wroclaw Phase 1 from Vastint Group in May 2019. Two months after acquiring its second property, the acquisition of the Business Garden contributed another 38,575 square-meters, which allowed the Group to offer more office space to potential tenants. The purchase from Vastint brought the Group’s combined office property portfolio size to 101,304 square-meters. The nomination affirms and recognizes the Group’s long-term business strategy of investing in attractive property projects that bring high value to stakeholders. This nomination also acknowledges the Group’s vision of continuously building its portfolio and maintaining them for the long-term.