Deka Immobilien Investment GmbH concluded the preliminary sale agreement of the Generation Park Z office building from Skanska for EUR 98 million. The deal will take place in the Warsaw real estate market. Experts from TPA Poland provide advisory services in the acquisition process.
Undoubtedly, this is another major investment in the Warsaw office market and the contract value is impressive. We are glad that our knowledge and experience could support the buyer, who has once again selected our team as their transaction advisor, said Patrycja Jefimiuk, tax advisor, Manager at tax advisory department, TPA Poland.
Generation Park Z is a modern building in Warsaw’s Wola district, in the capital’s CBD. It is located at Daszyński roundabout in Warsaw and is part of a larger office complex. The building offers a leasable area of around 19,000 sqm, as well as 110 underground parking spaces for cars and 102 for bicycles. Currently, the building is almost fully leased.
The Generation Park complex comprises three office buildings with a total area of about 87,000 sqm.
Building Z, which is to be acquired by the Deka Fund, also features infrastructure for cyclists and runners, including showers and changing rooms. The common areas in Generation Park Z contain numerous non-standard elements such as a tree in the lobby or a mural welcoming those entering the underground garage. The building also houses a green terrace on the top 13th floor, which overlooks the surrounding area and is a place to relax, work, organize corporate events or fitness activities. In addition, the building will have a parking system that will recognize license plates and allocate available spaces. Generation Park Z has been awarded the LEED Platinum pre-certificate and is currently applying for WELL and “Barrier-free building” certificates.
Warsaw’s Wola District is developing extremely dynamically. Recent years have turned this part of the city into a true business center. Some modern properties can be found here, including the most famous ones in Poland and in the world, which have won numerous awards for their modernity, environmental friendliness and the surrounding area. Today, when developers build office complexes in cities, they think about the surrounding residents and provide them with useful infrastructure. It is no wonder that the Deka Fund decided to buy the office building in this part of Warsaw. We’re glad that this decision has been made right now, said Małgorzata Dankowska, tax advisor, Partner responsible for the real estate team and the Warsaw tax division of TPA Poland.