Golub GetHouse is a real estate, investment and development company with over 55 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 – a 140-meter tower and an adjacent building, located just 200 metres from "Rondo ONZ" subway station by Prosta and Żelazna streets in central Warsaw.
Name of the deal
Sale transaction of Prime Corporate Center
Value of the transaction (in EUR)
90 milion euros
Yield
5,30%
Consultancy which advised Seller
Clifford Chance (law firm), Savills and JLL (advisory companies)
Purchaser, plus brief information about the company
Warburg-HIH Invest Real Estate is a real estate investment manager serving institutional investors and covering the entire spectrum of national and international real estate investments. Warburg-HIH Invest is one of Germany's leading managers of special AIF for real estate, with real estate assets of EUR 5.7 billion under management. Warburg-HIH Invest can demonstrate a comprehensive track record in designing and implementing bespoke investment solutions. Warburg-HIH Invest, as a quality provider, supplies products and services with added value. This pursuit matches the quality standards set by both of its shareholders, HIH Real Estate and the private bank M.M.Warburg & CO founded in 1798.
Consultancy which advised Purchaser
Hogan Lovells (legal), TPA Horwath (tax), cmT (technical due diligence), Cushman & Wakefield (agent) and MF Capital (investment advisers)
Financing institution
Warburg-HIH Invest Real Estate
Current occupancy level
100%
Please say why this deal should be considered for the award
On 24th June 2016 Golub GetHouse and Warburg-HIH Invest Real Estate concluded the sale agreement of Prime Corporate Center. The transaction was valued at circa 90 milion euros.
The agreement is the largest completed deal with the lowest yield in the history of Polish commercial real estate – at approx. 5,30%. It has a great impact on the market as it is a true finalized transaction within just 7 months. It proves that high-quality design, experience, integrity and commitment of a developer is highly valued by the purchaser.
Prime Corporate Center has been chosen, not only due to its strategic location and unique building’s features, but also for the reputation of its developer, his pro-active and entrepreneurial approach to commercialization, outstanding marketing campaign and tools of the project.
It is worth to note that Golub GetHouse remains the property manager of Prime Corporate Center.
