Ghelamco has sold its flagship development in downtown Warsaw – the Warsaw UNIT skyscraper at Rondo Daszyńskiego. It was acquired by the Swedish real estate company Eastnine AB for €280 million. This is the largest office market transaction that has been concluded in Europe this year.
Eastnine AB and Ghelamco announced on Tuesday that they have signed a sales agreement for the Warsaw UNIT skyscraper located in the centre of Warsaw for an underlying property value of €280 million, the equivalent of more than PLN 1.2 billion. This is a record transaction in the office market in 2024 not only in Poland but also in the entire Europe. With a height of 202 meters and almost 60,000 sqm of leasable space, the office building is one of the most modern and environmentally friendly buildings of its class on the continent. The building is fully commercialized and its largest tenants include Warta, Moderna, CBRE, Stryker, Amazon, OmniOffice and Imperial Tabacco.
“Warsaw UNIT sets the highest standards in the Polish and European office market. It is an office icon of the capital, which in terms of the quality of the working environment and sustainable solutions not only matches the best Western European developments but in many respects surpasses them. We are very pleased that this was appreciated by our partners at Eastnine, for whom these aspects are very important when building a real estate portfolio. We congratulate them on their choice and are confident that Warsaw UNIT is in the right hands, ensuring that it will remain among the best and most prestigious office addresses in Warsaw”, says Jarosław Zagórski, Managing Director, Ghelamco Poland.
“This transaction is an important and optimistic signal for the entire real estate industry as investors have resumed purchases and do not shy away from investing in promising assets that meet strict ESG requirements. Acquiring a building in a central location characterised by strong tenant demand, a limited supply of new projects and the prospect of rising rents is a safe long-term investment”, says Rafał Gierczak, Board Member, Head of Asset Management, Ghelamco Poland.
Eastnine AB is a Swedish company listed on Nasdaq Stockholm Mid Cap, Real Estate, which focuses on high-yielding office properties in prime locations across selected markets in the Baltics and Poland.
“We are very grateful for the opportunity to acquire this gem from Ghelamco. Warsaw Unit is an iconic building and represents everything we are looking for in an investment. The vibrant location, the highest ESG standards and the multinational tenants mix fit perfectly into the Eastnine strategy. We will make sure Warsaw Unit remains among the best and most prestigious offices in the city”, says Kestutis Sasnauskas, CEO Eastnine AB.
With a total loan amount of €168 million, Helaba and Erste Group are financing the acquisition. The loan term is for five years and Helaba is acting as co-arranger and agent for the transaction.
Georg Blaschke, Head of Real Estate Finance CEE and Benelux at Helaba said: "The office market in Warsaw is still one of the most dynamic markets in Europe despite the flexible working situation. Outstanding projects like The Unit in Warsaw are attractive for tenants due to its prime location and highest ESG standards and offer employees the most modern office space fit-outs. We are very pleased to finance the transaction for our relationship client Eastnine AB together with our partner Erste Group."
On Ghelamco's side, among the advisors in the transaction were: Dentons, Deloitte, MDDP, Rymarz Zdort Maruta and CBRE. Signal Capital Fund was the seller's pref-equity partner. The buyer, Eastnine, was advised by: Greenberg Traurig, JLL, Gleeds, Arcadis and Koda.
With nearly 60,000 sqm of office space on 46 floors, Warsaw UNIT is one of the most environmentally friendly and technologically advanced office buildings in Europe. The building was the first in Poland to receive WELL Core v2 certification with the Platinum rating and BREEAM with the highest possible Outstanding rating for a high-rise building. Its sustainability is also confirmed by certification in the WELL Health-Safety Rating, Green Building Standard and “Barrier-Free Facility” systems.
The energy-efficient and low-carbon character of Warsaw UNIT, fully powered by clean energy, is ensured daily by more than 40,000 sensors and 800 meters as part of BEMS system. Thanks to this and a number of other solutions, energy consumption in the skyscraper is nearly 30% lower than in comparable high-rise buildings. It was designed by Polsko-Belgijska Pracownia Architektury PROJEKT.
