Cavatina Holding has signed a sale agreement for the Equal Business Park office complex in Kraków. The complex comprises four buildings offering a total of over 60,000 sqm of Class A office space. The buyer is a joint venture managed by Apollo-Rida Poland.
The fourth stage of the complex, located in Kraków's Podgórze district, is currently under development. Building D will provide over 11,300 sqm of workspace. The complex’s list of tenants includes Integer (InPost), Sii, QVC, Kimberly Clark, Aptiv, Equiniti, Kingfisher, Delphi Technologies, Regus and Krakowskie Zakłady Automatyki.
„The process of implementing the company's investment assumptions is extremely dynamic. The huge interest in our Park as well as the leasing processes at the building D that’s still under construction is a reason to be proud. Equal Business Park is our flagship project in Krakow, which has met with great acceptance on the local market. That fact refers to the attention of new investors. At the end of 2019, Cavatina has launched 5 new mixed-use projects, which will deliver over 235,000 sqm of Class A office space to the Polish commercial real estate market,” said Daniel Draga, Member of the Board at Cavatina Holding.
“The transaction and its scale show the unflagging interest of investors in Poland and investments in regional cities. The purchase of such a significant complex is also a preview of the continuation of the trend from the previous year, which was another record-breaking time at the commercial real estate market with a total transaction volume of approx. €7 billion,” added Przemysław Łachmaniuk, Director - Investment Properties at CBRE.
The seller was advised by CBRE and Dentons and the buyer by JLL, Penteris and Deloitte.
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