The acquisition of the Generation Park Z office building in Warsaw from Skanska by Deka Immobilien Fund has been finalized. The buyer was advised by the TPA Poland team.
We informed about the transaction after the signing of the preliminary agreement in March this year. Now the entire process is over.
“The amount of transactions was high, which required exceptional caution and insight from our team of advisors. Our knowledge and experience with such deals is one of our greatest assets. In addition, it wasn’t the first time we have worked with the Deka fund. We are glad that they trusted us once again and chose TPA Poland as their transaction advisor,” says Patrycja Jefimiuk, Tax Advisor, Manager, Tax Advisory Department, TPA Poland.
Generation Park Z is located in the business center of Warsaw, at Daszyński roundabout, and is part of a larger office complex. The leasable area is over 19.000 sqm. Additionally, the office building houses 110 underground parking spaces for cars and 102 for bicycles. The entire Generation Park complex comprises three office buildings with a total area of about 87,000 sqm.
Building Z, which was has just found the new owner – 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.
“The office building acquired by the Deka fund meets the expectations of the new owner. It is modern, built in harmony with the environment, and at the same time provides surrounding infrastructure that can be used not only by landlords, but also by city residents. It is also worth noting that this is the fourth property purchased by the fund from Skanska. This is another proof that this investor finds quality and reliability in every area to be of key importance,” says Małgorzata Dankowska, tax advisor, Partner responsible for the real estate team and the Warsaw tax division of TPA Poland.
We wrote about it – read more.