Warsaw, 27nd of December 2017 – Griffin Premium RE.., a REIT-type company listed on the Warsaw Stock Exchange, closed an acquisition of three high-quality office properties from Echo Polska Properties (EPP) for an aggregate purchase price of approximately €160 million. The office properties are West Gate in Wrocław, Tryton Business House in Gdańsk and A4 Business Park in Katowice.
“This acquisition significantly enlarges our portfolio to nearly €700 million, and is an important step in our mission to become the leading institutional office investor in Poland,” says Małgorzata Turek, chief executive officer at GPRE. „2017 has been a remarkable year for our company, and we look forward to the acceleration of our strategy in 2018.“
Earlier this year, GPRE recorded a successful debut on the Warsaw Stock Exchange, the second largest listing in 2017. In autumn, it attracted Globalworth, the real estate investment company listed on the AIM section of the London Stock Exchange and one of the largest and most respectable office investors in the region, to be its new strategic shareholder and who will be instrumental in advancing the strategy.
At the same time, GPRE continues to strengthen its presence as a major owner of high-quality office space, and is excited to welcome a host of new tenants, for example Mindspace, a global co-working space operator that has recently moved into Warsaw’s most prestigious location Hala Koszyki, a mixed-use property or Groupon Shared Services Poland, the company that services international operations for the whole group, which moved to Supersam located in the very city centre of Katowice, a mixed-use property too.
„2017 was an exciting first year for our company, and we thank all those who have helped us on this journey, and particularly pleased to be noted and appreciated by the real estate community, including the honor of receiving the Newcomer of the Year Eurobuild Award in December“ said Ms. Turek.
Further details on acquired EPP assets:
West Gate is a modern office building with 16,600 sqm GLA, situated in the northwestern part of Wrocław, with a very good access to the city bypass and the city center. The property consists of an office building, with an L-shaped layout of each floor. The typical floor plate is approximately 2,700 sqm. The property has 2-storey underground parking space. In total, the property has some 320 car parking units. This asset is adjacent to West Link, a forward funded asset under development.
A4 Business Park is a complex of three modern office buildings with 30,600 sqm GLA located in Katowice. The building I of the complex is arranged over seven stories and buildings II & III over ten stories. Additionally, the property incorporates a ten-story parking building. In total the property has over 600 car parking units.
Tryton Business House is a 24,000 sqm GLA office building located in one of the most characteristic places in Gdańsk, at the junction of Jana z Kolna and Wały Piastowskie streets, in the vicinity of the inner city center. Tryton Business House consists of an eleven-story tower and two lower, six-story buildings. They are connected by walkways, which make it possible to move about the establishment without leaving the building.
These properties are leased to renowned tenants such as Intel, IBM, PKP Cargo and Nokia, have in aggregate in circa 71k sq m GLA, and generate a net operating income of circa €11.7 million on a stabilized basis.
About Griffin Premium RE..
Griffin Premium RE.. is a REIT-type company established in December 2016 and listed in April 2017. GPRE is a pure-play Polish real estate platform listed on the Warsaw Stock Exchange that primarily owns high-quality office and mixed-use assets located in Warsaw and across a number of other major Polish cities, notably Wrocław, Łódź, Kraków, Gdańsk and Katowice. Its portfolio comprises nine office and three mixed-use (office and retail) properties. For more information on GPRE please refer to http://www.griffin-premium.com/.
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