by Property Forum | Office

Torus has sold the fourth and final stage of the Alchemia business complex in Gdansk - the Neon office building. The buyer is global real estate investment manager DWS, on behalf of one of its German retail real estate funds. The net value of the transaction is over €80 million.

The construction of Neon took two years and was completed in October 2019. The building has over 35 thousand sqm of leasable area, including 33.5 thousand sqm meant for offices (with the area of a typical office floor being over 3 thousand sqm). Slightly more than 1.5 thousand sqm are areas meant for service located on the ground floor, which complete the walkway - a space for meetings and spending time located between the buildings of Alchemia. Just like the previous stages of the complex, the Neon building is LEED-certified at the highest, Platinum level. The building is an architectural and functional complement of Alchemia, which was designed entirely by the APA Wojciechowski Architekci studio.

"With this sale, we complete the whole, 10-year long investment project called Alchemia. All four stages were successfully commercialised and sold to various investment funds, confirming the quality and value of our buildings. The current transaction is particularly pleasing - the negotiations lasted several months and took place in difficult, pandemic reality", says Sławomir Gajewski, President of the Board of Torus.

DWS is one of the world’s leading asset managers with  €759 billion (as of 30 September 2020). It’s global real estate investment business managers over €65 billion in AuM (as of 30 September 2020) and has been investing in real estate assets for over 50 years.

Torus is one of the leaders among Polish office real-estate developers. To date, including the Neon building, the company has completed 7 transactions for the sale of its office properties to 6 different funds (5 buildings of the Arkońska Business Park and 4 stages of Alchemia) for a total of nearly €370 million.

Legal services on the part of Torus were provided by the Greenberg Traurig law firm, while the transaction team was led by partner Agnieszka Stankiewicz and Rafał Siwek (Senior Associate).

The sale of Neon is the second highest transaction in Torus' history in terms of value, and one of the largest in the history of the Tricity office market.