Savills Investment Management (Savills IM), on behalf of a global pension fund client, announced on Thursday the acquisition of two office buildings in Warsaw’s Gdanski Business Centre for over €200 mln, the largest transaction in Poland this year.
The two properties, dubbed building C and building D and comprising almost 53,000 m2, were sold by developer HB Reavis.
HB Reavis sold the first two out of four office buildings in December 2016 for €186 mln to Savills IM on behalf of the same client.
‘We are delighted to have completed another successful transaction on behalf of our client and gain control over the entire complex at Gdanski Business Center,’ commented Jon Crossfield, head of strategic partnerships at Savills IM.
‘The deal also marks another large investment into Poland, a country in which we have made significant investments totalling nearly €1 bn in the last two years,’ he added.
The latest assets to be sold were completed in 2016 and are fully let. In the entire Gdanski business centre there are around 10,000 employees working at institutions such as Aviva Group, KPMG, Nielsen, Euronet, BGZ BNP Paribas, GE and the Court of Appeals.
Greenberg Traurig advised HB Reavis on the deal. Clifford Chance and K+S Ingenieure advised Savills IM.