Source: eKapija | Sunday, 14.07.2019.| 16:07
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Austria’s IMMOFINANZ acquires Warsaw Spire Tower in Poland

The Austrian real estate finance company IMMOFINANZ has successfully finalized the acquisition of the Warsaw Spire Tower in the Polish capital.

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 million. The expected annual rental income based on invoiced rents totals approximately EUR 19.6 million, the new owners announced.

Oliver Schumy, CEO of IMMOFINANZ, emphasized that the purchase strengthened their position as one of the leading providers of first-class office solutions.

– The Warsaw Spire Tower 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. In a 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.

Jeroen van der Toolen, Managing Director for CEE at Ghelamco, said that he was very proud of the project.

– The Warsaw Spire project 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.

Matthias Cordier, Managing Director of Madison International Realty, said that they were excited to have successfully completed the sale of Warsaw Spire to IMMOFINANZ and Ghelamco had proven themselves to be true experts in the Polish real estate market.

The Warsaw Spire Tower has approximately 71,600 square meters of rentable space in total, including roughly 65,000 square meters of office space and the remainder used primarily for retail purposes. The Warsaw Spire Tower (building section A) is the highest office tower in Warsaw and has 49 floors. The office space is fully rented, among others to Goldman Sachs, Samsung, JLL and Mastercard.

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