GTC has announced the acquisition of Neptun Office Center and Sterlinga Business Center, located in Gdansk and Lodz respectively. These two Class A office buildings, featuring modern design and a total of 30,000 sq. m GLA of office space and 364 parking places, will enrich the Group’s Polish investment portfolio.
The Gdańsk-based Neptun Office Center, a Class A high-rise office building, offers 16,082 sq m of leasable space with 73% occupancy. Sterlinga Business center is a Class A office building located in the center of Łódź and offering 13,895 sq. m of leasable office space with 94% occupancy. The weighted average lease term of 3-5 years combined with approximately 5,000 sq. m of leasable space available in both buildings secure recurring income and allow for an upside potential in cash flow and property value. The acquisitions were financed by bank loans and GTC’s own sources.
“Each year, the demand for modern office space in major Polish regional cities grows continuously as evidenced by a record volume of leasing transactions in 2015. We are very happy to further enlarge our portfolio in the regional cities by investing in Neptun Office Center and Sterlinga Business Center as they stand for the high quality of office space in a very good location.“ commented GTC Chief Investment Officer, Jacek Wachowicz.
“Being present in most of the regional office markets in Poland, we are able to participate in their investment potential. Both, Neptun Office Center and Sterlinga Business Center will further contribute to our recurrent income, value creation and enhance our presence on the fast growing regional markets. The new acquisitions fit exactly our investment strategy and view on the market.” commented GTC CEO, Thomas Kurzmann.
During the transactions, GTC was advised by Hoganlovells, JLL, KPMG and Aecom. The transactions was closed in two months.
NEPTUN OFFICE CENTER
Neptun Office Center is the only high-rise office building in the Tri-City offering its tenants a high profile office accommodation in a prime location with excellent public transportation links. The building was built to high technical specifications with 16,082 sq. m. of leasable office space designed to allow individual space layouts and flexible division of floors into modules addressing individual clients’ requirements. Fully glazed facade ensures plenty of daylight at workstations and lets the tenants enjoy an amazing view of the city and the nearby Baltic Sea and its commercial port.
STERLINGA BUSINESS CENTER
Sterlinga Business Center is a class A, office building in the center of Łódź offering 13,895 sq. m of modern leasable space on 9 floors. Tenant car park is located on two underground floors and provides a total of 203 parking spaces. The ground floor houses a representable double-height reception lobby with high quality finishes in natural stone, wood and custom-made furniture. A canteen and retail units on the ground floor add to the services provided to the building’s tenants.
