Polish real estate company Greenstone has secured financing from Deutsche Hypo – NORD/LB Real Estate Finance for the acquisition of the Format office building in Gdansk, Poland.
The financing package includes a €22 mln real estate loan with a term of 3.5 years, as well as a VAT loan of around €9 mln with a one-year term
Built in 2022, Format is located in the Oliwa business district and offers approximately 16,500 sqm across five upper floors and two lower ground floors.
The property is nearly fully leased to nine tenants. It is LEED Platinum certified, featuring elements like solar panels and recycled construction materials.
Beata Latoszek, head of the Warsaw representative office of Deutsche Hypo – NORD/LB Real Estate Finance, said: ‘With Format we are financing sustainable office properties in the main office district of Gdansk that is very well connected to public transport. We are pleased to have gained Greenstone as a customer and are proud of the speedy progress made throughout the entire loan process in just under two months.’
Marcin Gajewski, partner, Greenstone, added: ‘We greatly appreciate the smooth cooperation with Deutsche Hypo – NORD/LB Real Estate Finance on this transaction. Greenstone has been investing on the Tricity office market since 2017, generating outstanding returns for its clients.’
The market value report was prepared by Colliers, and the legal support for the deal was provided by Wolf Theiss.
