Małachowski Square is a revitalized historical tenement house which offers 14 500 sq. m. The building is situated in close proximity to Park Saski and Plac Piłsudskiego and it is currently leased in 92%. White Star Real Estate, a company responsible for commercialization of the entire project, is currently in the process of finalizing new lease contracts concerning the available space. The group of tenants includes: K&L Gates legal office, CVC Capital Partners private equity, WBK legal office, PR Solski Communication agency, Solution Space, which offers co-working spaces, and German Berlin Hyp bank. The ground floor of the tenement house is intended for service premises, for instance, Informal Kitchen restaurant, D’senis sartorial atelier and SPA MAE. Two new gastronomic premises will be launched soon.
Europa Capital and White Star Real Estate were the only owners and investors in the Joint Venture form until now. White Star Real Estate was also responsible for management and asset management of the entire project. The companies finalized the sales of Małachowski Square to Generali Real Estate on behalf of GEIH Generali Group.
The appetite of investors for Małachowski Square was very strong because of the perfect quality of the building and the forecast for long-term incomes from lease contracts. Together with our partner we have managed to solve a difficult situation of this investment and hold up Małachowski Square as an example of a professionally managed luxurious office space, which is currently perceived as one of the best office buildings in Warsaw – says Robert Martin, Founding Partner, Europa Capital.
We are glad that we have managed to invest in such a unique property as Małachowski Square together with Europa Capital. Both high standard of this prestigious building and renowned tenants, who were attracted to the investment during the effective lease process, as well as growing attractiveness of the Warsaw real estate market for the European investors are reflected in the valuation of this property – says Brian Patterson, Owner of White Star Real Estate.
The list of tenants interested in leasing space was really long. In order to provide high quality and prestige of this investment, we have carefully selected such tenants who emphasize the highest standard of the building. We are satisfied that our efforts concerning creating an exclusive office investment turned out to be effective and easily attracted institutional investors – says James Pennington, Director Asset Management, Europa Capital.