Polish developer Ghelamco has sold its flagship investment in the center of Warsaw – the Warsaw UNIT skyscraper at Rondo Daszynskiego – to Swedish real estate company Eastnine AB, in what Ghelamco claims to be the largest office market transaction concluded in Europe this year.
Eastnine and Ghelamco announced on Tuesday, November 26, the signing of a EUR 280 million purchase and sale agreement for the Warsaw UNIT skyscraper, which is located in the center of Warsaw. Ghelamco describes The 202-meter-high office building, which offers almost 60,000 square meters of leasable space, as “one of the most modern and ecological facilities of this class on the continent.” The building is fully commercialized, and its largest tenants include Warta, Moderna, CBRE, Stryker, Amazon, OmniOffice, and Imperial Tobacco.
“Warsaw UNIT sets the highest standards on the Polish and European office market,” said Jarosław Zagorski, Managing Director of Ghelamco Poland. “It is an icon of the capital’s business center, which in terms of the quality of the working environment and sustainable solutions not only does not give way to the best Western European projects, but in many respects surpasses them. We are very pleased that this has been appreciated by our partners from Eastnine, for whom these aspects are very important when building a real estate portfolio. Congratulations on your choice and we are convinced that Warsaw UNIT is in the right hands, thanks to which it will remain among the best and most prestigious office addresses in Warsaw.”
“This transaction is an important and optimistic signal for the entire real estate industry,” said Rafal Gierczak, Member of the Management Board, Director of the Asset Management Department at Ghelamco Poland. “Investors are returning to shopping and are not shying away from investing in promising assets that meet stringent standards that are consistent with ESG requirements. The acquisition of a building in a central location characterized by strong demand among tenants, limited supply of new projects and the prospect of rent growth is a safe long-term investment.”
Eastnine, which is listed on Nasdaq Stockholm Mid Cap, Real Estate, focuses on modern, sustainable, and high-yielding office properties in prime locations in select markets in the Baltic countries and Poland.
“We are very grateful for the opportunity to acquire this gem from Ghelamco,” said Eastnine CEO Kestutis Sasnauskas. “Warsaw UNIT is an iconic building that represents everything we look for in an investment. The vibrant location, the highest ESG standards and the international tenant mix perfectly fit Eastnine’s strategy. We will ensure that Warsaw UNIT remains one of the best and most prestigious office buildings in the city.”
In the transaction, Ghelamco was advised by Dentons, Deloitte, MDDP, Rymarz Zdort Maruta, and CBRE. The pref-equity partner of the seller was the fund Signal Capital. The buyer, Eastnine, was advised by Greenberg Traurig, JLL, Gleeds, Arcadis, and Koda.
Image source: media.ghelamco.pl