Sitemap

IMMOFINANZ closes the acquisition of the Warsaw Spire Tower from Ghelamco and Madison International Realty

More...

News

Italy Sends Serbia The Medical Team To Help Fight COVID19

The Italian Embassy in Belgrade announces that a six-member medical team has arrived in Serbia: two anesthesiologists, one emergency...

Farewell Visit Of The Ambassador Of Israel To Serbia

Prime Minister Ana Brnabic met with Ambassador of Israel to Serbia Alona Fisher Kamm and on that occasion pointed...

Air Serbia Introduces New Measures Due To Coronavirus

Due to the coronavirus pandemic, Air Serbia re-introduced flight bans and travel restrictions and is forced to further adjust...

EU Donates €16m For Water Transport Projects

The European Commission approved non-repayable funds in the amount of €16 million for financing projects in the field of...

Serbia Introduces New Measures To Curb Coronavirus

At the suggestion of the COVID-19 Crisis Response Team, the Serbian government is introducing new measures regarding the prevention...

IMMOFINANZ has successfully finalised the acquisition of the Warsaw Spire Tower through the purchase of the respective real estate holding companies.

The closing took place today, 11 July, following the release of the transaction by the Polish antitrust authorities. The sellers are the Ghelamco Group, which completed the tower in 2016, and Madison International Realty, a global real estate private equity firm. The agreed property value for the office tower equals roughly EUR 386.0 million. The expected annual rental income based on invoiced rents totals approximately EUR 19.6 million.

“The Warsaw Spire Tower strengthens our position as one of the leading providers of first-class office solutions in Warsaw and represents an optimal combination of high quality, superior infrastructure and a well-known tenant mix. This office tower is an excellent addition to our standing investment portfolio and will also significantly strengthen IMMOFINANZ’s earning power over the long-term“, comments Oliver Schumy, CEO of IMMOFINANZ, on the transaction. “In the next step, we plan to integrate the Warsaw Spire Tower into our successful, international myhive office concept with its top service, feel well atmosphere and community building.“
“I am very proud of the Warsaw Spire project. It has been appreciated not only by top tenants, but also key players on the financial markets. Warsaw Spire has redefined Warsaw’s business centre and has become an icon of the dynamically growing capital. An integral part of the building is Plac Europejski, which is one of the best public spaces created in Poland. We wish and believe that the new owner will continue the success of this place as a centre of Warsaw’s gravity”, says Jeroen van der Toolen, Managing Director CEE, Ghelamco.
“We are excited to have successfully completed the sale of Warsaw Spire to IMMOFINANZ. Ghelamco, who have proven themselves to be true experts in the Polish real estate market and excellent partners to work with, plus our thesis around Warsaw’s strong yield relative to other Tier 1 European cities, has allowed Madison to enter this new market. We continue to look for interesting opportunities after our recent investment into Capital Park as we consider Poland an attractive investment market for our firm”, adds Matthias Cordier, Managing Director of Madison International Realty.

Related Articles

IMMOFINANZ celebrated its fourth year of successful operations in Serbia

The Austrian company IMMOFINANZ, a leading listed commercial real estate investor in Central and Eastern Europe, last night celebrated its 4th full year of...

Austria’s Immofinanz to Open Three Retail Parks in Serbia

The Austrian company IMMOFINANZ is continuing the expansion of its STOP SHOP retail park chain in Serbia. Three new locations will be added in Požarevac, Lazarevac and Vršac with an overall of 23,700 sqm of rentable space. The individual projects are in different stages, but should be completed before the end of 2017.