US firm, Lone Star, has completed a transaction to buy a package of properties from Cavatina Holding, the mixed-use developer.
Having first revealed an intention to trade in June, the two parties have followed through on the transaction involving the Carbon Tower in Wroclaw, Ocean Office Park A and Tischnera Office in Kraków. Together, the assets provide nearly 66,000 m2 of GLA, and an average lease rate of around 90%.
The breakdown is €66 mln for Carbon Tower, €31.1 mln for Ocean Park A, and €67.6 mln for Tischnera Office.
Dentons and CBRE acted for Cavatina Group.
The deals come as total real estate volume in Poland reached €2.88 bn in H1 2022, of which as much as 44% was in the office sector.
Speaking of the transaction, Daniel Draga, VP of the management board of Cavatina Holding, said the deal was motivation to keep going with its brand of development.
‘Investors today are looking for sustainable buildings located in prime locations. Our proposals meet the needs of both urban residents, tenants and investors, who appreciate our approach to real estate. We focus on quality, high-end architecture and flexibility in cooperation with companies. Another successful portfolio transaction pleases and motivates us to continue our development in the chosen model focusing on major regional markets.’
