The sale of Pilot Tower is one of the most interesting transactions which have recently been concluded on the market in Krakow. The change of both the key tenant and the name of the building during the sales process were of great importance. Thanks to high standard and owner’s efficient actions, Pilot Tower achieved the full rent level once again on the day of the transaction, which proclaims that the value of this property is really high – says Krzysztof Cipiur, Associate Director of Capital Market Department, Knight Frank.
Pilot Tower was formerly known as Alma Tower. It is an office building which is characterized by interesting architecture. The investment offers office and service space on 13 floors as well as three levels of an underground garage. Its total leasable space amounts to 10 700 sq. m. Pilot Tower is being realized in accordance with the principles of sustainable development. Moreover, the investment was awarded LEED certificate (CS Platinium). The current owner – UBM – was advised by Knight Frank during the sales transaction process.
The group of tenants in Pilot Tower includes such companies as Onet Group, Krakchemia, Vistula, W.Kruk, or PZU. Pilot Tower is our first office investment in Krakow and 100 per cent level of rent proclaims about its success. Thanks to cooperation of all sides, the sales transaction has been conducted really efficiently. As we believe that Krakow has great potential, we are going to deliver another office – Kotlarska 11 – at the end of this year and we hope that it is not going to be the last one – says Peter Obernhuber, Member of the Board of UBM Poland.
The new owner of Pilot Tower is First Property Group. It is a manager of investment funds as well as an investor who operates in Great Britain and Romania. The company has conducted more than 30 transactions on the real estate market in Poland since 2005, and its current portfolio includes such investments as the offices in Warsaw: Błękitny Wieżowiec, Chałubińskiego 8 and Żoliborz Plaza, as well as Corso shopping mall in Świnoujście, or Galeria Ostrowiec in Ostrowiec Świętokrzyski.