Yareal completes sale of NEOPARK office complex

Yareal has sold both buildings that comprise the campus-like NEOPARK office complex located in Warsaw’s Służewiec district. Built three years ago, ownership of Yareal’s investment will be transferred to a Fund managed by Amundi Real Estate. Other Funds managed by Amundi Real Estate purchased Yareal’s flagship Nowogrodzka Square office project last year. This transaction is larger and includes two buildings offering a total area of 24,000 sqm of state-of-the-art A-class office space.

The NEOPARK complex is fully commercialized and consists of two modern office buildings built at the intersection of Cybernetyki and Wynalazek Streets in Warsaw’s Służewiec district. The 4-storey buildings create an office complex centred around a green, open courtyard.

“This is Amundi Real Estate’s second transaction in an office project carried out by Yareal. We see this transaction as a demonstration of absolute trust and a confirmation of the manager’s satisfaction with last year’s purchase. Closing another deal with such a distinguished business partner – a leader on the European commercial real estate market – fills us with pride. I am convinced that the NEOPARK complex and long-term contracts with strong tenants will make a fine contribution to the fund’s portfolio and the successful development of its business in Poland,” said Eric Dapoigny, CEO of Yareal Polska.

The anchor tenant in NEOPARK is PLAY, telecom network operator. Its headquarters occupies nearly the entire building B, which represents close to half of the complex. The buyer used the services of Cushman & Wakefield’s advisors, law firm CMS, and Arcadis’ technical consultants. During negotiations, Yareal was supported by advisors from CBRE and law firm GIDE LOYRETTE NOUEL.

The office buildings in the NEOPARK complex were designed by JEMS Architects and commissioned in 2017 and 2018. Each building offers 12,000 sqm of class A office space.

NEOPARK features an array of environmentally friendly solutions, confirmed by the “Excellent” rating on its BREEAM green building certification.