Golub GetHouse signed a preliminary contract with Warburg-HIH Invest Real Estate. The agreement concerns sales of the Warsaw office PRIME Corporate Center. The value of this transaction has not been revealed yet.
We are proud about the building realized by our company and its quality confirmed by the fact that Raiffeisen Polabank is going to locate its headquarters in PRIME Corporate Center. The high value of this transaction reflects both credibility of an institutional tenant, who has been renting the building for 10 years, and the quality of the whole investment. Investors engaged in PRIME Corporate Center by a fund managed by Golub GetHouse were also Polish Open Pension Funds. This transaction confirms that Polish capital proves its value on the real estate property in Poland and it may bring larger-than-average return rates for developers and investors. I am glad that we managed to gain Warburg-HIH Invest as a purchaser and I am convinced that PRIME Corporate Center will be a very valuable part of their portfolio – Czarek Jarzabek, Founder and Chairman of the Board of Golub GetHouse, says.
A perfect location of PRIME Corporate Center in a developing part of Warsaw, perfect access to public communication and high quality of the investment make that this purchase will be highly attractive medium- or long-term investment in the portfolio of Warbud-HIH Invest and our investors – Matthias Brodesser, Head of Transaction Management International of Warburg-HIH Invest, adds.
Golub GetHouse is represented by Clifford Chance legal office and Savills consulting company during the transaction process whereas Warburg-HIH Invest is represented by such companies as Hogan Lovells (legal service), TPA Horwath (tax consultancy), cmT (technical audit), Cushman & Wakefield (agent) and MF Capital (investment consultancy).
The building of PRIMECorporate Center was completed in March this year. The general contractor of the project was Warbud, which completed the building in accordance with the schedule, that is within two years from starting construction works. The investment is situated at Grzybowska 78 Street in the Wola district in Warsaw. The structure offers almost 20 900 sq. m of leased area located on 23 aboveground tiers as well as 197 parking places in an underground garage. Moreover, employees of one tenant of the building – Raiffeisen Polbank – may benefit from a canteen occupying 300 sq. m in the office. Solomon Cordwell Buenz from Chicago, which cooperated with Epstein, is responsible for the architectural project. The building was also awarded the ecological certificate BREEAM at the Very Good level.