Philippine-based investment fund buys next office complex in Poland

Philippine-based ISOC Group has acquired the Argon building in the Alchemia Office Complex in Gdańsk from Torus. The final agreement was signed on March 5th.

Sources say the price is around EUR 92 mln, which would make it the largest transaction ever signed by Torus. The 38,000 sqm buildings, of which over 36,000 sqm is office space, is the third building of the Alchemia complex.

Currently, close to 90 pct of the building is leased, with tenants that include Lufthansa Systems Poland, Marine Harvest, Luxoft and Wirtualna Polska Group.

“This is the largest office investment transaction in the TriCity and also an entry into this market of a new long-term foreign investor,” says Marcin Kocerba from Cushman & Wakefield, which advised the seller. The buyer was represented by Augusta Cracovia and advised by Greenberg Traurig, JLL, Dil Polska Baumanagement and Infinity Partners. The transaction was financed by Bank BGŻ BNP Paribas.

“ISOC believes that Argon, and other investments in Poland, make perfect additions to our current portfolio. We are excited by the quality of the projects that we are seeing here, and we hope to continue building our portfolio, adding more value and keeping them for the long-term,” said Michael Cosiquien, the group chairman of ISOC.

This is not the first transaction of ISOC Group in Poland. Last year the company bought buildings C and D of the Silesia Business Park in Katowice from Skanska for EUR 59 mln.

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