Poland was the site of Europe’s biggest office property transaction of the year occurred with the $295 million sale of the Warsaw Unit skyscraper.
The 46-story office tower was completed in 2021 and encompasses 635,070 square feet of office space. The property is fully occupied with more than 20 tenants, including the headquarters of Polish insurance company Warta and offices of Amazon, CBRE, Moderna and Stryker.
The property was sold by the Belgian developer Ghelamco to the Swedish investment firm Eastnine AB.
“I can hardly imagine a better way for us to enter the Warsaw market than by acquiring a top property in the best location that Warsaw Unit represents,” said Eastnine’s CEO Kestutis Sasnauskas. “We are very grateful to Ghelamco, who not only developed this fantastic landmark changing Warsaw’s skyline, but also joined us as a shareholder. The acquisition of Warsaw Unit is a very important milestone on our growth journey not only by entering the capital city of Europe’s fastest growing economy, but also significantly boosting our earnings. Following the acquisition, Poland is our largest market standing for more than 50% of our property portfolio.”
“Warsaw Unit sets the highest standards in the Polish and European office market,” added Jarosław Zagórski, managing director of Ghelamco Poland. “It is an office icon of the capital, which in terms of the quality of the working environment and sustainable solutions not only matches the best Western European developments, but in many respects surpasses them. We are very pleased that this was appreciated by our partners at Eastnine, for whom these aspects are very important when building an office portfolio.”
Photo: Tomasz Kubica / Wikimedia Commons
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