Skanska, the Swedish real estate developer and construction group, has sold the first office building at Generation Park in Warsaw to German investor Hansainvest Real Assets for €83 mln.
It is Hansainvest’s second acquisition in Poland, as well as its second from Skanska. A year ago, the asset manager acquired Atrium 2, its first Polish office project in the country.
'It’s our second deal together within a year and again in the Polish capital. This demonstrates the maturity and liquidity of Warsaw’s investment market and the attractiveness of the city for international investors,' said Adrian Karczewicz, head of Divestments at Skanska’s commercial development business in the CEE.
The transfer of the property is expected to take place late in the first quarter of 2018.
The building provides 21,000 m2 of total leasable area and was completed in November 2017. It is almost fully leased, with Citi Service Center Poland occupying about 90% of the space.
Generation Park is Skanska’s largest office development in Central and Eastern Europe. Upon completion, the complex will comprise of three office buildings with total leasable area of around 84,000 m2. The highest building, a 34-storey tower, will reach 140 metres, or 180 metres including the spire.
During the sales process, Hansainvest Real Assets was advised by MF Capital and Colliers International, while Cushman & Wakefield acted as the exclusive agent for Skanska. Legal advisers for the transaction were Greenberg Traurig for the purchaser and Dentons for the seller.
