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
Skanska
Skanska is one of the leading development and construction companies in Europe. Outside the Nordics the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia and UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania and Hungary, while the residential development is active in Prague and Warsaw. Skanska also offers services in public private partnerships. In 2017, Skanska had sales of SEK 37 billion and about 16,000 employees in its European operations.
More information can be found at: www.skanska.com/property
Niam
Niam is the leading real estate private equity firm in Northern Europe with real estate assets under management of approximately €3.6 billion. Niam offers global institutions the opportunity to invest in the Nordic property markets. Niam was established in 1998 and has managed ~€9 billion of assets and realized over €6 billion. Niam has a fully integrated investment team of 55+ dedicated real estate professionals with experience across all major asset classes. The company is headquartered in Stockholm and has offices in Oslo, Helsinki and Copenhagen.
For more information, please visit: www.niam.com
