Immofinanz is acquiring the Warsaw Spire Tower Building in the Polish capital through the purchase of the respective property holding companies. This roughly 220 metre-high office tower has approximately 71,600 sqm of rentable space, with roughly 65,000 sqm representing offices and the remainder used primarily for retail purposes. The agreed property value for the office tower amounts to approximately €386.0 million. The expected annual rental income based on invoiced rents totals roughly €19.6 million. The sellers are Ghelamco Group, which completed the tower in 2016, and Madison International Realty, a global Real Estate Private Equity Firm.

Ghelamco Poland has completed the sale of the Wronia 31 office scheme located in the centre of Wola’s business district. The property was acquired by LaSalle Investment Management (LaSalle), one of the world’s leading real estate investment managers with $65 billion of assets under management across Europe, North America and Asia Pacific.

The construction of retail park Prochownia Łomianki (Łomianki Powder House), Ghelamco Poland’s new project located right past the northern border of Warsaw, in Łomianki, has been launched. The space of the building will cover around 5300 sqm. The project is scheduled to be completed in December 2019.

Ghelamco presented Warsaw Unit, its latest Warsaw project, previously known as Spinnaker. The 180-metre skyscraper is scheduled to be completed in early 2021. The project’s budget is nearly €200 million.

CA Immo signed and closed a sales and purchase agreement to acquire the centrally located Warsaw Spire C office building comprising of 21,700 sqm GLA in Warsaw, Poland. The transaction volume of the fully leased landmark Class A property amounts to around €100 million, the annual gross rental income reaches around €5.4 million. With this transaction, CA Immo takes another step in its CEE core market expansion strategy, setting the path for continued growth of the companies´ recurring earnings. According to plan, the acquisition will already contribute to recurring earnings (FFO) of CA Immo in the fourth quarter of 2018. Greenberg Traurig (legal), KPMG (tax) and Arcadis (technical) acted as advisors to CA Immo.

Madison International Real Estate Liquidity Fund VI LP has taken a 50% stake in the Warsaw Spire office tower, becoming an equal owner alongside the Ghelamco GP12 fund. The value of the tower is approx. €350 million. Warsaw Spire is the tallest office building in Central Europe and the acquisition is one of the country’s largest office real estate transactions in recent times.

Ghelamco has finalised the sale of Przystanek mBank, a build-to-suit office complex in the New Center of Łódź. The transaction led by companies from the Ghelamco Group included a long-term investor LCN Capital Partners and mBank. The value of the transaction is approximately €60 million.

Ghelamco Poland has started the construction of its first office project in the city of Kraków. The building, called .big, will be located at the junction of Generała Bohdana Zielińskiego and Kapelanka streets. The project will offer 10,000 sqm of office and 1,500 sqm of commercial space. Completion is scheduled for mid-2017. Cushman & Wakefield is the leasing agent for .big.

Ghelamco has secured a €221 million loan for the construction of The Warsaw Hub from a consortium of five banks. Warsaw HUB, comprising three buildings, will have 113,000 sqm GLA of which 70,000 sqm of office space. The complex will also include retail space and a conference centre as well as two hotels. Completion is planned for 2020.

Helaba, Berlin Hyp and pbb Deutsche Pfandbriefbank have jointly underwritten an investment facility totaling €370 million to refinance the Warsaw Spire Office complex. The assets are owned by the newly established Ghelamco European Property Fund. The transaction closed in August 2017. Helaba, Berlin Hyp and pbb are acting as joint lead arrangers providing equal portions of the funding, with Helaba acting as facility and security agent of the transaction.