Hansainvest Real Assets has concluded a preliminary purchase agreement for Generation Park Y, the final component of Warsaw’s Generation Park office complex developed by Skanska. The deal is worth EUR 285 million and is currently one of the largest transactions on the office market in Central and Eastern Europe. The buyer was supported by TPA Poland’s expert team led by Wojciech Sztuba and Joanna Henzel.
“We are delighted to have been able to work with Hansainvest Real Assets on another transaction. Our experienced team supported the investor in tax-related matters,” said Joanna Henzel, tax advisor, manager at TPA Poland. “The scale of the transaction required multi-level and comprehensive support. It covered tax due diligence, as well as the preparation of applications for tax interpretations regarding the tax settlement of the transaction. TPA Poland experts also handled the preparation of transaction documents and participated in negotiations. Following the completion of the purchase, the investor will also receive full post-transaction support, including, among others, real estate tax and tax settlement. We would like to thank Hansainvest Real Assets for placing their trust in us and making use of the know-how and experience of our experts and advisors once again,” added Joanna Henzel.
Hansainvest Real Assets is a very active investor in the Polish market. In the autumn, the fund purchased warehouse facilities located in Poznań and Wrocław with a total area of over 43,000 sqm. The fund’s portfolio currently comprises around 230 properties in 18 countries, with assets worth around €6.4 billion under management.
“We would like to congratulate to Hansainvest Real Assets on another important investment in the Polish real estate sector. Hansainvest’s decision proves that in spite of the pandemic, the demand for modern office space is still high, and a great location and high standards in terms of the quality of fit-out, technologies used and environmental footprint are the best guarantee of an investment’s high competitiveness,” said Wojciech Sztuba, tax advisor, Managing Partner at TPA Poland.
Generation Park Y is a 140 meter high building with 38 floors. It is the newest and biggest project built by Skanska in Warsaw. The total leaseable area is approximately 88,000 sqm and has been fully leased for 10 years by PZU S.A. for its corporate headquarters.
The purchase of Generation Park Y is Hansainvest Real Assets’ fourth investment project in Poland. It is also the fund’s fourth transaction on which TPA Poland team has advised.
fot. Piotr Ostrowski