In the first six months of 2021, CA Immo signed a total of 14 lease agreements at its office projects in Warsaw, strengthening its cooperation with existing, longstanding business partners and acquiring new tenants. A total of nearly 9,000 sqm of high-quality workspace was leased at seven office buildings.
The biggest transaction closed recently by CA Immo was the extension of the lease agreement by a company from the FinTech industry at the Sienna Center office building. This tenant decided to stay in the building for the next five years, leasing almost 3,000 sqm of space. What is more, PGE Systemy decided to continue its operations at Warsaw Towers, while Ekoenergetyka SA Group extended its lease. This manufacturer of charging stations for electric vehicles leased an additional 1,000 sqm on the fifth floor of the Postępu 14 office building. Other lease extension agreements were signed at the Saski Point, Saski Crescent, Bitwy Warszawskiej Business Center and Wspólna 47/49 buildings. New tenants joined facilities such as Bitwy Warszawskiej Business Center (IMOL) and Sienna Center (Westrock).
Andrzej Mikołajczyk, Managing Director of CA Immo Poland, commented: “We look back on a first half-year 2021 with a stable operating performance record. Amidst a market situation that remains subdued due to ongoing work-from-home discussions and new virus variants, we achieved good leasing results. This also shows that remote working has not radically changed the need for offices, which for most companies remain the central place for work, communication, and exchange of knowledge and experience. At CA Immo we consistently focus on acquiring and managing top-quality office properties and maintaining partnership relations with our tenants, which is especially important in uncertain economic times.”
Warsaw is one of the core markets for CA Immo, where it has been present since 2001. The investments in the Polish portfolio of the company include: Warsaw Spire (Buildings B and C), Postępu 14, Warsaw Towers, Sienna Center, Saski Crescent, Saski Point, Bitwy Warszawskiej Business Center and Wspólna 47/49. The total area of assets included in the CA Immo portfolio in Poland amounts to more than 170,000 sqm. and their value is about €590 million, which accounts for around 10 percent of the total CA Immo Group´s portfolio.
As in the previous year, CA Immo intends to continue its strategic capital rotation programme whereby the Group sells non-strategic properties and uses the proceeds to fund its development pipeline or purchase cash-flowing office buildings with additional development potential. With this programme CA Immo is targeting to secure and further increase the attractiveness and sustainability of the investment portfolio. As part of this strategy, CA Immo continuously reviews its core markets for potential attractive, cash-flow-strong portfolio acquisitions.
