Yareal has signed a contract to sell the Nowogrodzka Square office building to a French fund managed by Amundi Real Estate. The transaction includes a Class A office building covering an area of 11,000 square meters, as well as an underground garage with 148 parking spaces. Nowogrodzka Square was opened in the fall of 2018.
Nowogrodzka Square, which was constructed in less than 20 months, meets the rigorous requirements of the international BREEAM system for sustainable building, thanks to which the investment was awarded a BREEAM certificate with an “Excellent” rating.
“Nowogrodzka Square is Yareal’s flagship office investment and as such a lot of heart and effort went into its construction. We are certain that this investment will be in the right hands and we have complete confidence that this extraordinary building will serve to provide favourable working conditions to its tenants as well as increase the value of its owner’s portfolio. We can see now more than ever that modern working solutions, including openable windows, terraces and flexible office arrangement, are a necessity – especially in light of the constraints imposed by the ongoing global pandemic. This office building had been long-term leased by reliable tenants and will now go to a fund managed by Amundi Real Estate, a European leader on this market,” says Eric Dapoigny, the President of Yareal Polska.
During the negotiations, Amundi Real Estate relied on support from acquisition advisors from Knight Frank, legal advisory from CMS and technical advisory from Sentient. Yareal relied on the services of experts from the CBRE consulting company, and on legal support from GIDE.
