October 04, 2018

Ghelamco sells Building C of the Warsaw Spire Complex

Ghelamco sells Building C of the Warsaw Spire Complex

CA Immo purchased Building C of Warsaw Spire complex from Ghelamco, thus becoming the owner of the second building in the flagship investment project of the Belgian developer. Transaction value is nearly €100 million.

The third office building in Warsaw Spire complex has now a new owner. The building, with 21,700 sqm of lease area, was purchased from Ghelamco by CA Immo, a company listed on Vienna Stock Exchange under ATX index. One year ago the same company purchased Building B, housing Frontex headquarters, from Ghelamco. Both parties had already signed the Sales Agreement. Transaction value is nearly EUR 100 million. CA Immo used consulting services of Greenberg Traurig, KPMG and Arcadis. Ghelamco was represented in the transaction by JLL, CBRE and Dentons.

"This is our next transaction closed with CA Immo, and at the same time the proof of trust and satisfaction on both sides stemming from previous experience. I am happy that the last office building in Warsaw Spire complex, a flagship investment project of Ghelamco in Poland, was acquired by the stable and reliable investor, who also owns Building B" said Jeroen van der Toolen, Managing Director CEE, Ghelamco. "Warsaw Spire is not only the largest and the highest office tower complex in Poland, but also a strong, recognized brand supported by top quality office space, prestigious location and spectacular commercial success," he added.

"This acquisition further strengthens our presence in one of the most attractive microlocations in central Warsaw, which is one of the most dynamically developing markets in CEE. The Warsaw Spire Building C is a high-quality landmark scheme; it will provide us with secure cash flow, strengthen and rejuvenate our portfolio on the Warsaw core market and perfectly complements our recent acquisition in Warsaw, the adjacent Spire Building B," said Andreas Quint, CEO of CA Immo.

Warsaw Spire Building C, completed in 2016, provides 21,700 sqm of lease area with 241 parking spaces in underground garage. The building is occupied by a few different tenants. The annual gross rental income is ca. €5.4 million.

Warsaw Spire is located in the new business centre of Warsaw, near Rondo DaszyƄskiego. It offers great communicability, both with public and private means of transport, including underground line 2 and multiple tramway and bus lines. The great strength of this investment project is Plac Europejski (European Square), which is among the most presentable public spaces in the Capital. Warsaw Spire is also the most recognized and distinguished office development in Poland. In 2017 the complex won the prestigious competition MIPIM Awards, in the category Best Office & Business Development in the world.

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