TRIUVA Kapitalverwaltungsgesellschaft (TRIUVA) has acquired the core office building Green Day in Wroclaw, Poland from a Luxembourg fund advised jointly by GLL Real Estate Partners GmbH (GLL) and Investec Bank PLC. The purchase price is believed to be in the region of €48.5 million.
The Green Day building is a 16,000 sqm office building located at Szczytnicka 9 in the centre of Wroclaw close to the river Oder and the botanical gardens. GLL purchased Green Day upon completion in March 2014, and have sold the property in accordance with their original business plan. The building was developed by Skanska based on sustainable requirements, and owns a LEED Gold certification. It is 100 percent leased with Credit Suisse (Poland) operating a Global Center of Excellence as the anchor tenant.
Jörg Laue, Director of Investment Management at TRIUVA, said, “We strongly believe in Poland in general and Wroclaw as one the main economical centers of the country. Many international companies from throughout Europe are choosing Wroclaw as a location for outsourcing complex service requiring a high level of know-how. Therefore, high-quality office space in the city is currently in short supply. We are firmly convinced that central locations in Wroclaw with excellent transport connections and high quality of facilities will, over the long term, hold their preeminent position in the market and generate attractive returns.”
TRIUVA was advised on this transaction by Dentons and King & Spalding (legal), Colliers (commercial) and Arcadis (Technical) and GLL was advised by JLL, Hogan Lovells, PWC, and Sentient.