European real estate manager Triuva has acquired a €48.5 mln office building in Wroclaw, Poland from a Luxembourg fund advised jointly by GLL Real Estate Partners and Investec Bank.
The core office property, dubbed Green Day, is a 16,000 m2 asset located at Szczytnicka 9 in the centre of Wroclaw.
'We strongly believe in Poland in general, and Wroclaw as one the main economic centres of the country,' commented Jörg Laue, director of investment management at Triuva. 'Many international companies from throughout Europe are choosing Wroclaw as a location for outsourcing complex services requiring a high level of know-how. Therefore, high-quality office space in the city is currently in short supply.'
GLL purchased Green Day upon completion in March 2014, and divested the property in accordance with its original business plan. The building was developed by Skanska to a LEED Gold certification. It is 100% let to Credit Suisse (Poland).
'We are firmly convinced that central locations in Wroclaw with excellent transport connections and high quality of facilities will, over the long term, hold their preeminent position in the market and generate attractive returns,' added Laue.
Triuva was advised by Dentons and King & Spalding, Colliers and Arcadis.
GLL was advised by JLL, Hogan Lovells, PWC and Sentient.
