WARSAW, 30 December 2021 – Greenberg Traurig advised HANSAINVEST Real Assets GmbH on a transaction concerning the acquisition of Generation Park Y, the last building of 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 CEE and at the same time the largest sale in the office sector in CEE in 2021. Generation Park Y is HANSAINVEST Real Assets’ fourth acquisition in Poland and third from Skanska.
The Greenberg Traurig team was led by Senior Associate Kamil Majewski, supported by Associate Jakub Gajzler.
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 gray and rain-water recovery system, Generation Park Y entails using 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 already received recognitions: 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.
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 230 properties in 18 countries. The volume of assets under management is just under EUR 6.4 billion.
Greenberg Traurig LLP
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2,300 attorneys serving clients from 40 offices in the United States, Latin America, Europe, Asia, and the Middle East.
GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year award at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of approximately 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas.
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About Greenberg Traurig's Real Estate Practice
Greenberg Traurig's Global Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive legal solutions for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of 400 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, and Latin America. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.
Greenberg Traurig's real estate team in Warsaw consists of 40 top-rated specialists who cover a broad spectrum of core real estate and additional practices. The team offers clients an unparalleled level of legal experience and service in Poland and within Central Europe.
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