Located in the heart of Wola, a dynamically developing district of Warsaw, Towarowa 22 is an investment plot with an area of 6.5 ha. In the past, the plot was a location of a Dom Słowa Polskiego printing house and most recently, a shopping centre Jupiter. The area is now intended for a balanced office and residential mixed-use development, with a city park encircling a modernist pavilion as the central point of the future investment.
The current JV partners, AFI Europe and Echo Investment will jointly participate in the development of the office and PRS parts of the complex (respectively holding 70 percent and 30 percent of shares). Echo Investment is the sole owner of the residential part, where ca. 1,000 apartments will be offered. Echo Investment will act as a developer of the whole project.
The investment shall offer more than 200,000 sqm GLA, out of which approx. 50 percent with office function and 50 percent of residential spaces (PRS and residential for sale). It shall be a landmark, city-shaping destination project, with an aim to repeat the success of the internationally recognized Warsaw Brewery mixed-use investment.
“We are pleased to be a transaction manager and EPP’s adviser in the disposal of Towarowa 22, which is an important step in the implementation of their new long-term strategy. We wish the JV partners great success in the realisation of this landmark project in the heart of Warsaw’s city centre. We are sure that Towarowa 22, with a city park encircling a modernist pavilion and unique design of surrounding developments, will add to the ongoing changes in Warsaw’s Wola district and will be another destination project in this part of the city,” said Maciej Dyjas, Managing Partner at Griffin Capital Partners.
“Griffin’s vital role as a transaction advisor to EPP and as catalysator for the overall complex development joint venture between AFI Europe and Echo Investment is not only satisfying in getting the deal successfully over the line but being involved in one if not the largest urban inner-city development projects in a European capital city. This was possible, thanks to the unique competencies of our strong team of experts, who have invaluable knowledge and many years of experience in sourcing, leading and closing the most sizeable and complex transactions and joint ventures across the market,” said Nebil Senman, Managing Partner at Griffin Capital Partners.
