News Yareal
Yareal has just completed its acquisition of an existing office building – built in the year 2000 and located in Warsaw’s city center – from CA Immo.
The building offers app. 7,700 sq. m. of office and commercial areas and is located in the very center of the Polish capital, at the intersection of Wspólna and Marszałkowska Streets. Yareal plans to continue leasing these areas in the coming years.
The office building makes an interesting addition to Yareal's existing portfolio. Its prime location – 47/49 Wspólna Street – has endless potential as it is situated in downtown Warsaw and surrounded by numerous hotels, restaurants, and public institutions. It also offers very convenient access to public transport lines in all directions and is just a stone’s throw away from the Centrum metro station and the Warszawa Centralna railway station.
“This purchase is the first transaction in which Yareal Polska realized a comprehensive analysis and key transaction-related activities, acting directly on behalf of Yareal International’s majority shareholder, Yam Invest. The expert knowledge of our team here in Poland made it possible for Yareal’s owner to raise their capital commitment on the country’s commercial real estate market. In line with our strategy, we have expanded the company's portfolio with an incredibly attractive office building that offers excellent short- and long-term prospects” – said Eric Dapoigny, CEO of Yareal Polska.
Wspólna 47/49 is a seven-story office building that includes a three-story underground parking garage, with a capacity for 131 cars, and an additional 6 parking spaces outdoors. The building, 70 percent of which is currently commercialized, still has app. 2,300 sq. m. of class B office space available, as well as over 500 sq. m. of commercial areas on its ground floor.
The transaction was carried out through a 100-percent acquisition of shares in a special purpose entity which owned the building and was operated within CA Immo. Following the transaction, Yareal Polska will now be in charge of building management and leasing its available areas.
Legal services for Yareal were provided by the GIDE law firm, with the MDDP law office being responsible for financial and tax audits. Europtima served as a technical advisor for Yareal. CA Immo was supported by CBRE and the Greenberg Traurig law firm.
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