ISOC Group continues expansion in Katowice
We are glad to confirm that on June 2, 2020, ISOC Group, represented in Poland by AUGUSTA CRACOVIA acquired another two office buildings in Katowice.
Still seeing a positive outlook for Poland despite the pandemic, the ISOC Group has bought two buildings (A and B) of the Silesia Business Park in Katowice. The seller was a fund managed by NIAM, one of the largest private property owners in northern Europe. This consolidates Investor’s stake, making it the sole owner of the largest existing office park in the Upper Silesia region.
Silesia Business Park is a complex of four class A office buildings, located at ul. Chorzowska in Katowice. The first two buildings (C and D) with a total leasable area of 24,600 sqm were already acquired by the ISOC Group in December 2018 from Skanska, the project’s developer. The leasable area of the newly acquired properties adds another 24,700 sqm to ISOC’s portfolio.
We expect that consolidation of ownership in one hand will unleash the potential of the entire park and will allow them to integrate high-quality tenant service.
Erik Rydstrom from NIAM and Piotr Zamkotowicz from Augusta Cracovia, representing the ISOC fund, admit that the closing of such an important transaction during the pandemic was a challenge, but the harmonious cooperation of all parties enabled its efficient completion.
The buyer was advised by Colliers International, Hogan Lovells, Baker McKenzie, CSWP, Arcadis and Infinity Partners, while the seller was represented by CBRE, Linklaters and EY. Debt financing for the needs of the transaction was organized and granted by a banking syndicate Santander Bank Polska S.A. (Agent) and Bank Millennium S.A.
Including this recent acquisition, ISOC's office portfolio in Poland grew to ca 130,000 sqm. Remaining office assets are located in Gdańsk and Wrocław.
ISOC Group acquired Business Garden Wrocław
We are glad to confirm, that on May 16, ISOC Group, represented in Poland by AUGUSTA CRACOVIA acquired Business Garden Wroclaw phase I. The seller is Vastint Poland. The transaction value amounted to over EUR 95 million. Financing was provided by HSBC bank.
The three office buildings included in the transaction, were completed in 2016 as part of the first stage of the investment. The total area is 38,575 m 2 and includes an office component with a rental area of 37 468 m 2 , as well as 619 parking spaces. The facility has a prestigious LEED Platinum certificate. The property located at Legnicka Street, adjacent to the Magnolia shopping and entertainment centre and the Mikołajow railway station is 100% leased. Tenants include companies such as Becton Dickinson, Capgemini, Dolby Laboratories or Ceneo.
Roger Andersson, Managing Director of Vastint Poland says: The transaction proves the attractiveness of Polish regional cities, which offer assets with excellent potential in the context of value growth, income or exposure on the Polish real estate market. It is also a market confirmation of the high quality of the Business Garden project.
Michael Cosiquien, Chairman, the ISOC Group says: This acquisition reaffirms our full commitment towards expansion not only in our home market but also in Europe. It is a proof of our big appreciation of Poland’s enviable investment climate and growth potential, its thrust towards sustainability, and the abundance of a highly educated and productive workforce. ISOC Group is proud to be part of Business Garden, Wroclaw and its world-class standards.
Piotr Zamkotowicz, Partner of Augusta Cracovia, ISOC’s advisor and representative in Poland added: Our acquisition criteria considers not only highest quality of the property, but also project scale and location, that provides great service and growth potential to our tenants.
Business Garden is an innovative office complex that will ultimately consist of nine office and service buildings with a total area of over 110,000 m 2 . The element distinguishing the investment is a large, open garden, available to employees and residents of the city. In the relaxation zones created in the garden, tenants can rest and take part in outdoor sports activities. The complex also offers infrastructure for cyclists and a range of amenities for tenants. In addition to the restaurant pavilion located in the central part of the garden, and along with the opening of the second stage of the complex, additional service points will appear, including a new canteen, cafe, fitness club, medical facility and kindergarten. By the end of this year, Vastint Poland is planning to commission the second phase of the project including another six office buildings with a leasable area of 76,000 m2. In the sales process,
ISOC Group - Philippines based company invests in Gdańsk
On March 5, 2019 Philippine investor ISOC Group represented in Poland by AUGUSTA CRACOVIA, completed acquisition of the Argon office building in Alchemia Complex in Gdańsk.
This transaction is the largest in the history of the Tricity office market with a value of nearly 92M EUR. The transaction was financed by Bank BGŻ BNP Paribas. Alchemia Complex was developed by Torus.
Argon is the third and the most prestigious, stand-alone office building structure in the Alchemia Complex. Total building leasable area is 38.000 sqm, of which 36.000 sqm consists office space and 2.000 sqm of retail space located on the ground floor. Main tenants of the building include Lufthansa Systems Poland, MOWI (Marina Harvest), Luxoft and Wirtualna Polska Group. The building has the highest, platinum level, LEED certification.
ISOC Group is a Philippine company, well established and recognized in the international real estate market through diversified portfolio of assets and activities focuses on property development, cold chain logistics, energy and infrastructure. ISOC group entered the polish market in the recent years and continue its long-term plan to build up a portfolio of high-quality properties.
Michael Cosiquien, ISOC Group Chairman said: “The company maintains a long-term strategy of investing in attractive real estate projects that sustain high value despite a constantly changing market. Investments in Poland are significant value-added asset to ISOC portfolio. Encouraged by the quality of market and projects here, Group expects to continue its expansion and long-term presence in Polish market.”.