|
The Azora Europa fund has bought two office blocks belonging to the Green Office development. The sale agreement, concluded on December 21, 2011, covers 11,300 m2 of lettable office space (3,300 m2 - Building A and 8,000 m2 - Building B). Both buildings are leased by Motorola Polska Solutions Sp. z o.o.
The Green Office, located in Czerwone Maki Str. in Krakow, comprises three four-storey class-A office buildings. Its total lettable space amounts to 21,300 m2. In early May 2011, the first of three buildings, Building B (8,000 m2) was completed and commissioned. At the second stage, Building A (3,300 m2) was built. This building was completed and handed over to the tenant in October 2011. Buildings A and B have been fully customised to the tenant’s needs. The floors (other than the ground floor) house open space offices, office and conference rooms. An in-house cafeteria operates on the ground-floor of Building A. The architectural design was drawn by the Krakow-based UCEES Architects.
The Green Office is being built with respect for the environment, nature, the landscape and the spatial development order. Design solutions of the load-bearing structure, the facades and internal services are based on energy-efficient, passive technologies with the application of intelligent systems.
In the sale, the Buma Group was represented by Jones Lang LaSalle, and legal services were provided by Norton Rose.
Azora Europea is a private equity fund belonging to the Azora Group which comprises capital structures operating on international markets of commercial, residential and hotel real estate as well as bio- and renewable energy. The Fund manages assets worth over EUR 700m. Azora Europa has been active on the investment market since 2007, investing in the real estate sector of Central and Eastern European countries. The Fund owns four office buildings worth about EUR 110m in total (in Warsaw, Krakow and Prague) and is involved, as an equity investor, in two residential development projects in Warsaw offering some 900 flats. Azora currently has further transactions in its pipeline and it intends to close them this year. Its shares are mainly held by Spanish banks, savings & loans, pension funds and private investors.
|
