Skanska has sold Malta House, its first office investment in Poznan. The complex was purchased by a joint venture between three companies: a fund managed by Bluehouse Capital Advisor and two investment vehicles comprising Polish investors, managed by independent Polish fund and asset manager REINO Partners -– REINO Dywidenda 2 FIZ (a closed-ended investment fund) and REINO Dywidenda Plus SA (a joint-stock company – a dividend vehicle generating stable profits to investors). REINO Partners, the initiator and main organizer of the venture, also arranged bank financing. This is the second investment by Skanska to be bought by vehicles arranged and managed by REINO Partners in Poland.
“The sale of Malta House to REINO Partners is a significant phase in Skanska Property Poland’s activity in Poznan. Our first Poznan-based office scheme has been taken over by a reliable and prominent business partner, with whom we are already undertaking our second joint transaction. This illustrates the growth in the significance of Polish funds within the investment market. Furthermore, we are happy with the fact that investors’ interest is increasingly expanding towards the biggest regional cities, where, just as we are doing in Poznan, we are developing and planning further future office buildings,” commented Łukasz Kaleciński, regional director for Region North at Skanska Property Poland.
“The transaction with Skanska is another phase in the development of dividend investment products based on core properties generating stable profits. The success of vehicles confirms a demand for such solutions from the growing number of Polish investors. International investment standards and carefully selected properties are the bases of success. Due to its location, basic parameters and the developer’s reputation, Skanska’s office building in Poznań was perfect to become the first investment target for our new vehicles. This is further confirmed by the participation of Bluehouse, without which the venture would not have been possible. We are happy that we managed to finalize the transaction,” remarked Radosław Świątkowski, Partner at REINO Partners.
Malta House is a Class-A office complex certified according to the international LEED system at the highest, Platinum level. It is picturesquely located in close proximity to Maltańskie Lake and offers its tenants 14,700 sqm of modern office space. It was commissioned for use in July 2013. Furthermore, Malta House was 97 percent leased while being sold. Among the scheme’s current tenants are companies such as Franklin Templeton Investments, Ciber Polska, PKP Informatyka, OpenText, Owens-Illinois (O-I), Kinnarps, ING and Skanska.
PWC, CBRE and Dentons advised Skanska Property Poland on the sale of Malta House while Greenberg Traurig Grzesiak and Arcadis advised REINO Partners. Bluehouse was advised by CMS. Debt financing was provided by BZ WBK.