Hansainvest Real Assets GmbH has acquired Generation Park X, the first building of Generation Park, a prime office project located in Warsaw, Poland. It is the investor’s second acquisition in Poland, as well as its second from Skanska. The transaction volume was around €83 million.
The first out of three office buildings of the Generation Park complex was completed in November 2017, providing approx. 21,000 sqm. Almost the entire office space is leased to Citi Service Center Poland, creating one of the company’s biggest shared service centres in a single location. The project is expected to receive a LEED Platinum certification. This modern trophy asset broadens Hansainvest Real Asset’s portfolio. Previously, the asset and investment manager completed the acquisition of its first Polish office project, Atrium 2, in December 2016.
“It’s our second deal together within a year and again in the Polish capital. This demonstrates the maturity and liquidity of Warsaw’s investment market and the attractiveness of the city for international investors,” says Adrian Karczewicz, Head of Divestments at Skanska’s commercial development business in the CEE.
Generation Park will comprise three office buildings with a total leasable area of around 84,000 sqm The highest building, a 34-storey tower, will reach 140 metres (180 metres including the spire). The buildings will be independently certified LEED Platinum, but also under the “Building without barriers” classification, recognising their accessible design (inclusive for people with disabilities).
During the sales process, Hansainvest Real Assets was advised by MF Capital and Colliers International, while Cushman & Wakefield acted as the exclusive agents for Skanska. Legal advisers for the transaction were Greenberg Traurig for the purchaser and Dentons for the seller.
