Skanska has sold the Green2Day building in Wroclaw, Poland, to the real estate fund manager Niam. It is the developer’s fifth office project in the city with its sixth – Nowy Targ – currently under construction.
We enjoy a good business relationship with Niam illustrated by the trust the company puts in Skanska’s products. This is the fifth Skanska project we have divested in Wroclaw. In previous years players such as Union Investment, GLL, RREEF and PZU have appreciated the potential of the Wroclaw office market by selecting our buildings.
ADRIAN KARCZEWICZ, HEAD OF DIVESTMENTS AT SKANSKA’S COMMERCIAL DEVELOPMENT BUSINESS IN CEE
In the last decade, the Central Eastern European market has seen increasing investor interest in office projects. A large pool of well-educated people speaking a wide range of foreign languages, and good market conditions are driving the leasing market. The CEE recipe for solid investment products is simple: prestigious tenants and high quality certified buildings. Buyers such as Niam, who come back to us seeking new additions to their portfolio, confirm that CEE assets are very competitive and often yield better returns than those in Western Europe.
KATARZYNA ZAWODNA-BIJOCH, PRESIDENT AND CEO OF SKANSKA’S COMMERCIAL DEVELOPMENT UNIT IN CEE
We are pleased to acquire this high-quality office property built by Skanska in an attractive location in Wroclaw. This building will complement our fund portfolio with strong cash flows and risk-adjusted returns.
FREDRIK JONSSON, NIAM CEO