On December 30, 2021, Hansainvest Real Assets has announced it purchased the office property Generation Park Y, a 47,000 square meter skyscraper, from European developer Skanska for 285 million euros.
According to Hansainvest, this is the biggest transaction of 2021 in the entire CEE region.
Generation Park Y is a 38-story building (140 meters) and part of a broader office development project in Warsaw situated at Rondo Daszynskiego (Wola District). 100% of the asset’s office space is leased for ten years to leading Polish insurance company PZU for its headquarters.
Generation Park Y, which was completed in the first quarter of 2021, was designed and built according to ESG principles in line with environmental and social aspects and uses 100% renewable energy. A quarter of the materials used to build Generation Park Y contain recycled components.
“Core office properties fulfilling ambitious ESG criteria continue to be sustainable long-term investments, particularly new developments in dynamic markets such as Warsaw or comparable metropolitan areas,” commented Hansainvest Real Assets Chairman of the Management Board Nicholas Brinckmann. “Generation Park Y, therefore, fits very well into our overall acquisition strategy. We are looking forward to further diversifying our European and US real estate portfolio in 2022.”
“Being our first skyscraper in CEE, Generation Park Y is our flagship project not only in Poland but also in the entire region,” added Skanska Executive Vice President Leasing & Sales Arkadiusz Rudzki. “Therefore, we are happy that our asset was again chosen by our long-term business partner Hansainvest Real Assets. This new acquisition, alongside its scale on the market in 2021, confirms that the whole Generation Park project is of the highest quality and has been built according to ESG principles. This is what distinguishes our projects on the market.”