HB Reavis has successfully sold two Warsaw office buildings to Savills Investment Management (Savills IM) who acted on behalf of a global pension fund client. Offering ca. 53,000 sqm, Buildings C and D of Gdanski Business Center are now entirely owned by the global pension fund.
Completed in 2016, Gdanski Business Center boasts a 100% occupancy rate. The whole business campus is now home to around 10,000 employees working at a number of well-known institutions including Aviva Group, KPMG, Nielsen, Euronet, BGŻ BNP Paribas, GE and the Court of Appeals to name a few. The first two out of the four office buildings totalling 48,000 sqm were sold in December 2016 for €186 million, also to Savills IM on behalf of the same client.
Jon Crossfield, Head of Strategic Partnerships at Savills IM commented: “We are delighted to have completed another successful transaction on behalf of our client and gain control over the entire complex at Gdanski Business Center. The scheme offers a unique combination of facilities and location, let at attractive rental levels and proven success with a wide range of first class occupiers. The deal also marks another large investment into Poland, a country in which we have made significant investments totalling nearly €1 billion in the last two years.”
Greenberg Traurig advised HB Reavis on the deal. Clifford Chance and K+S Ingenieure advised Savills Investment Management.