Atenor has signed an agreement with an international investor to sell its Lakeside project in Warsaw.
According to Atenor, “this transaction, which is expected to be finalized by the end of the year, represents a significant step in Atenor’s debt reduction strategy.”
“This new sale adds to the seven transactions already signed and being finalized for the year 2024,” said Atenor CWO Stephan Sonneville. “The reduction of consolidated net debt strengthens Atenor’s balance sheet, which is very valuable in still challenging real estate markets.”
Atenor reports that the transaction will contribute 62 million euros to the reduction of its consolidated net debt as of December 31, 2024, and that an additional payment of 5.5 million euros will be made within 18 months. The transaction will not affect the result of the second half of 2024.
Lakeside currently boasts an occupancy rate of over 95%. According to Atenor, “awarded several times for its sustainability performance, Lakeside is also an architectural asset in the urban landscape of Warsaw. This project illustrates a successful combination of functionality and sustainable development. The technical solutions adopted, such as the use of low-emission concrete and wind energy for construction work, demonstrate Atenor’s commitment to innovation.”
“Lakeside is not just an office building of over 23,800 square meters,” said Maciej Krenek, Country Director Poland at Atenor. “It is a modern center for living and working. With 4,200 square meters of green spaces, 134 bicycle parking spaces, and 16 charging stations for electric vehicles, Lakeside transforms the Mokotow district in Warsaw into a more diverse and dynamic place.”
Image source: bpcc.org.pl