KBP as part of record deal

CBRE, Dentons and Arcadis advised Starwood Capital Group on acquisition of Katowice Business Point and two other office buildings in Warsaw. The transaction was already named as one of the most important on the Polish market in recent months.

The 77 300 sq. meters office portfolio includes: Katowice Business Point, Łopuszańska Business Park (Warsaw) and Marynarska 12 (Warsaw). KBP is a 17 343 sq. meters BREEAM certified modern office building including retail space on the ground floor. It was opened in 2010 and counts Tauron Polska Energia, Grupa Żywiec, and PwC as tenants of the location.

„This undoubtedly represents one of the highest profile transactions of combined office space in Poland in 2014 and proves that office buildings have remained high on investors’ wish lists. Moreover, the transaction shows that certified green buildings provide a highly valued asset in the market” – said Mike Atwell, Head of CEE Capital Markets at CBRE.

Starwood acquired the portfolio of three office building from Ghelamco, which described its first ever three-asset portfolio sale as „one of the biggest office transactions of the year” in Poland. „I would like to congratulate Starwood Capital Group on acquiring three top-quality properties” – said Jeroen Van der Toolen, Ghelamco’s Managing Director, CEE. „This transaction reinforces the value of our projects as investment products, as well as the leading role of Ghelamco in the Polish real estate market. This also marks the first time that we have sold three of our buildings in one transaction”.

The price was not disclosed but the German bank Helaba provided a EUR 136 million loan for the transaction. According to Belgian economics and business newspaper De Tijd, the three office buildings have been sold for approximately EUR 200 million. „This is the biggest deal in the company’s history and the first time that the Belgian group has sold three buildings in a single transaction” – De Tijd reported.