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Hines Global REIT acquires New City office complex in Warsaw

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The Challenge

Cushman & Wakefield were instructed on behalf of Europejskie Centrum Inwestycyjne to represent them in the disposal of New City in Warsaw.

The New City office complex contains two best-in-class office buildings, New City and NC2, located on 15 Marynarska Street at the center of Mokotow, Warsaw’s largest office district. The property is situated at the intersection of four major arterial routes, with excellent visibility and unrivalled transport links with the city center and Warsaw’s Chopin International Airport.

The complex is fully leased to 51 tenants including such established and internationally recognized companies as Gruner+Jahr, Novartis, Samsung and Eniro.

The total rentable area of the New City office complex is approximately 44,000 sq m. The connected properties offer retail space on the ground floor and 1,291 parking spaces in 3 levels.

The Solution

Cushman & Wakefield advised the client on the sale of the property, organising and managing the offering process. We prepared the list of potential investors and advised on the best offer. We coordinated the due diligence process and supported the client in the negotiations.

The Results

The purchaser is Hines Global REIT, Inc. ING Bank Slaski SA and ING Bank NV have provided financing to the Global REIT for the acquisition.