The Poznań office market has just saw the completion of EastNine’s acquisition of the Nowy Rynek D building for EUR 121 million. TPA Poland team advised the buyer on this transaction.
“We are glad to have supported EastNine in the acquisition of such a modern building in Poznań. Our work on this project took place on several key levels. First and foremost, we focused our analysis on tax due diligence and we did a full review of the tax implications for both pricing and structure. In addition, we supported the buyer throughout the transaction process. An in-depth analysis, practical conclusions and comprehensive presentation of the entire process allowed EastNine to successfully complete the acquisition of New Market D. We are grateful for the trust and express our congratulations on such a great purchase” – commented Martyna Szatkowska, Tax Advisor, Manager in Transaction Advisory Department at TPA Poland.
“This is a big and important step for our client, especially in view of the current geopolitical situation, which certainly made the strategic decision to enter the Polish real estate market more complicated. We are pleased that Eastnine found the Polish market and the project in Poznań to be promising, and that they entrusted us with the supervision of the tax aspects of both entering the Polish market and the transaction itself” – added Małgorzata Dankowska, tax advisor and partner at TPA Poland.
Nowy Rynek D in Poznań was built by Skanska in line with ESG standards, creating a sustainable space that has a positive impact on people, society and the planet.
The buyer, EastNine, specializes in providing modern office and logistics properties developed in accordance with the principles of sustainable development. The purchase of Nowy Rynek D in Poznań fits perfectly with the investor’s philosophy.
The use of climate-friendly solutions (e.g. slow-speed ventilation, chilled beams, LED lighting, free cooling system, grey and rain water recovery system) enables a significant reduction in energy and water consumption. In addition, the sidewalks around the office building are made of a special type of concrete that purifies the air of harmful substances such as nitrogen oxide (NOx) from car exhaust fumes from the surrounding roads.
The acquired office building is a part of a mixed-use complex located in the center of Poznań, which will ultimately comprise of five buildings, offering more than 100,000 sqm of office and retail space. Work on the building was completed in June 2021 and now it provides 39,000 sqm of office and retail space, which is already 96% leased. Allegro is the anchor tenant. Office spaces are leased by Rockwool and Arvato, among others.