Together with the Katowice buildings, the fund purchased two office facilities in Kraków – Kapelanka 42 A and Axis. According to the developer, this is the largest sales transaction conducted this year in the Central and Eastern Europe office market and the largest transaction in the history of Skanska’s activity in this region. The new owner paid EUR 160 million for the four buildings.
Skanska Property Poland declared the portfolio up for sale in March 2015. The office buildings with a total area of 63 000 sq. meters have ended up in the real estate portfolio of the Niam. Its primary business is managing real estate investment funds which target property investments in all sectors primarily in Sweden, Norway, Finland and Denmark. Niam has a total of EUR 2,7 billion in assets under management in all sectors across the Nordic region.
“Niam is happy to acquire a portfolio of A-class buildings with a strong tenant mix from the leading developer in the region” – says Johan Bergman, CEO of Niam.
“The portfolio sale of the Axis and Kapelanka 42 buildings and the two buildings in the Silesia Business Park is the most spectacular transaction in the history of our company in Central Eastern Europe. For the first time we took the decision to sell a portfolio of projects, and it has proved to be a very good move. With mutual trust, partnership and professional approach of Niam and our advisors, we were able to efficiently complete the transaction. The sale clearly shows that investors are interested in high-quality buildings in regional markets, which are a great investment product. We believe in these markets and we will continue to invest there” – explains Katarzyna Zawodna, president of Skanska Property Poland.
The Silesia Business Park is Skanska Property Poland’s first project in Katowice. The office complex will comprise four buildings with a gross leasable area of 12 000 sq. meters each. Building A had its official opening in February 2015 and is already 80% let. In September, the building obtained LEED Gold certification. Building B will be put into operation in the second half of October 2015. It is already 50% leased.
As it was said in the press statement, the sale of the portfolio is an important step in the business activity of Skanska Property Poland. In the next few years, Skanska is set to further strengthen its position by investing in Polish regional cities as well as the capital. They will also continue to work closely with tenants from the modern business services sector. The company is currently working on five office projects: in Warsaw (Atrium 2), Poznań (Maraton), Katowice (Silesia Business Park B and C), Kraków (Axis) and Łódź (Nowa Fabryczna), and is preparing to start new projects.
Skanska Property Poland was supported in the sales process by international consulting firms CBRE and Colliers International, chosen as exclusive agents for the transaction. Legal advice to the developer was provided by Dentons, and to Niam by Linklaters.