WARSAW – 29 July 2022 – Greenberg Traurig advised HANSAINVEST Real Assets GmbH on a transaction concerning the acquisition of Generation Park Y, the last building in the Generation Park office complex in Warsaw.
The transaction is valued at EUR 285 million, which makes it the largest office sale in the history of Skanska’s commercial development business unit in Generation Park Y is HANSAINVEST Real Assets’ fourth acquisition in Poland and the third from Skanska.
The Greenberg Traurig team was led by Local Partner Kamil Majewski, supported by Associates Jakub Gajzler, Marcin Gralewski and Junior Associate Maciej Smaczyński.
Deputy Managing Partner Radomił Charzyński provided strategic supervision over the transaction.
Generation Park Y is a 38-storey building situated in Warsaw at Rondo Daszyńskiego (Wola District). The tower has a leasable area of 47,600 sqm, and 100% of its office space is leased for ten years to leading Polish insurance company PZU for its headquarters. It was designed and built according to ESG principles in line with environmental and social aspects. Thanks to innovative solutions such as green concrete, energy-efficient devices, and a gray and rain-water recovery system, Generation Park Y has low consumption of resources. The building uses 100% renewable energy. A quarter of the materials used to build Generation Park Y contain recycled components. It has been awarded the LEED Core & Shell Platinum certificate and WELL Health & Safety Rating. Generation Park Y is also applying for WELL Core & Shell and Building without Barriers certification.
“Congratulations to HANSAINVEST on the completion of this complex and unique transaction, which is another milestone acquisition on the Warsaw market that our real estate team has had the pleasure to finalize this year. We are looking forward to representing this client on future projects,” said Radomił Charzyński, Deputy Managing Partner of the Greenberg Traurig Warsaw office.
The Generation Park complex comprises three office buildings with a total leasable area of around 88,000 square meters of offices and retail space and multiple parking lots. Generation Park is Skanska’s largest office development project in Warsaw.
HANSAINVEST Real Assets is a German investment and asset management firm, offering broad spectrum of services ranging from acquisition and sale to project development, asset management and portfolio management. The company’s real estate portfolio currently consists of around 233 properties in 18 countries. The volume of assets under management is just under EUR 6.6 billion.