Still seeing a positive outlook for Poland despite the pandemic, the ISOC Group from the Philippines has bought two buildings (A and B) of the Silesia Business Park in Katowice. The seller was a fund managed by NIAM, one of the largest private property owners in the Nordics. This consolidates the Asian investor’s stake, making it the sole owner of the largest existing office park in the Upper Silesia region.
Silesia Business Park is a complex of four class A office buildings, located at ul. Chorzowska in Katowice. The first two buildings (C and D) with a total leasable area of 24,600 sqm were already acquired by the ISOC Group in December 2018 from Skanska, the project’s developer. The leasable area of the newly acquired properties adds another 24,700 sqm to ISOC’s portfolio.
According to the investor, consolidation of ownership in one hand will unleash the potential of the entire park (almost 50,000 sqm) and will allow them to integrate high-quality tenant service. Erik Rydstrom, from NIAM, and Piotr Zamkotowicz, representing the ISOC fund, admit that the closing of such an important transaction during the pandemic was a challenge, but the harmonious cooperation of all parties enabled its efficient completion.
The buyer was advised by: Colliers International, Hogan Lovells, Baker McKenzie, CSWP, Arcadis and Infinity Partners, while the vendor was represented by CBRE, Linklaters and EY.
The acquisition of Silesia Business Park by the ISOC Group, represented in Poland by Augusta Cracovia, is another investment of the Philippine player in our market since its debut in December 2018. In 2019, ISOC Group was nominated for the Eurobuild Investor of the Year. Their Polish real estate portfolio is located in three regional cities: Katowice, Gdańsk and Wrocław, and within a dozen or so months, including this latest acquisition, the fund has extended to a total of 130,000 sqm.
Pan-European real estate investment manager Europa Capital, in partnership with commercial real estate investor and developer ConvergenCE, acquired the Akadémia Business Center in Budapest. The acquisition has been completed...