A unique transaction in CEE real estate market: Ghelamco sells

Warsaw, 20 August 2014 r.
A unique transaction in CEE real estate market:
Ghelamco sells three office properties to Starwood Capital Group
In what marks one of the biggest office transactions of the year in the dynamically
developing Polish real estate market, Ghelamco, a leading office developer in the CEE
region has finalized the sale of three major office projects to a controlled affiliate of
leading global private investment firm Starwood Capital Group. Terms of the
transaction were not disclosed.
The unprecedented sale of three office investments by Ghelamco demonstrates the growing
dynamism of Polish real estate market and its increasing significance for global investors as
well as the leading position of Ghelamco in the region.
“I would like to congratulate Starwood Capital Group on acquiring three top-quality
properties,” said Jeroen Van der Toolen, Ghelamco’s Managing Director, CEE. “This
transaction reinforces the value of our projects as investment products, as well as the leading
role of Ghelamco in the Polish real estate market. This also marks the first time that we have
sold three of our buildings in one transaction. Funds from the sale will be invested in new
office, retail and residential projects.”
“We believe that these properties are well-positioned to benefit from the continued
strengthening of Poland, one of Europe’s fastest-growing economies,” said Keegan Viscius,
Vice President at Starwood Capital Group. “This transaction highlights Starwood Capital
Group’s expanding presence in Europe, as well as our ability to opportunistically invest in
markets that we believe are poised to capitalize upon a prolonged recovery across the
region.”
The three properties comprise 78,000 sqm of total office space. T-Mobile Office Park and
Łopuszańska Business Park, both completed in May 2013, are conveniently located within the
business areas of Warsaw’s Mokotów and Włochy, while Katowice Business Point, constructed
in 2010, is situated in the very center of Katowice. The buildings have already been a
commercial success, as they are almost 100% leased to prominent tenants including TMobile, Citibank, Allianz, Alior Bank, Tauron, PwC and Żywiec.
The projects are also distinguished by sustainable solutions, as all are certified in BREEAM
(Building Research Establishment Environmental Assessment Methodology). T-Mobile Office
Park was the first building in Poland to obtain the BREEAM Excellent certification — one of
the factors that helped the property receive several prestigious awards, such as Green
Building of the Year in Central and Eastern Europe for 2013, Green Building of the Year in
Poland for 2013 and the Essa Green Award.
Jones Lang LaSalle and Hogan Lovells advised Ghelamco on the transaction.
About Ghelamco Poland:
Ghelamco Poland is a leading developer and general contractor operating in the region, and
the leader in sustainable development in Poland. The company specializes in developing
modern office and warehousing space. In addition, under the Ghelamco Residential brand,
the company realizes high-standard residential projects. Over the course of 23 years,
Ghelamco has delivered approximately 500,000 sqm of office and warehouse space, thus
attaining a reputation as a developer that guarantees timeliness and high-quality realized
investments. The key element of the company’s investment strategy is to deliver projects that
provide efficient and comfortable work space, while shaping a new area of significant value
to a city that is also friendly to its inhabitants. Underscoring the high quality of Ghelamco’s
projects is the substantial number of awards the company has received, including seven-time
Developer of the Year honors.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on global real estate.
Headquartered in Greenwich, CT, the Firm maintains 12 offices in six countries around the
world. Starwood Capital Group has raised nearly $25 billion of equity capital since its
inception in 1991, and currently manages $36 billion in assets. The Firm has invested in
virtually every class of real estate on a global basis, opportunistically shifting geographies and
changing positions in the capital stack as risk-reward dynamics evolve. For more than two
decades, Starwood Capital Group and its affiliates have successfully executed an investment
strategy that involves building enterprises around real estate portfolios in both the private
and public markets. Additional information can be found at starwoodcapital.com.
Contact for the media:
Marta Gryglewicz, Senior Account Executive, Partner of Promotion
e-mail: [email protected], tel. (022) 858 74 58 w. 84
Tomasz Siczyński, Marketing & PR Specialist, Ghelamco Poland
e-mail: [email protected], tel. (022) 455 16 00

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