Krakow Office With A New Owner: Equal Business Park A Part Of Appolo-Rida Poland Portfolio

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pic press materials
This is a new spectacular transaction with the participation of Cavatina Holding SA in recent months. The developer has just concluded a preliminary sales contract that pertains to four buildings with a total size of over 60 000 sqm of office space class A.

The recent projects carried out by Cavatina Holding SA are mainly located in the leading Polish cities and arouse increasing popularity among prestigious tenants and investors. The fast commercialization pace, high-quality architecture and convenient location are the main attractive assets of the company's projects that bring new tenants.

“The investment assumptions of the company are being carried out very dynamically. The huge popularity of our park, as well as the areas that belong to Building D (under construction), makes us really proud. Equal Business Park is our major project in Krakow which was warmly welcomed by the market and attracted very valuable investors. Cavatina launched 5 new mixed-use projects before the end of 2019. They will deliver over 235 000 sqm of innovative space to the Polish market in the nearest years” – says Daniel Draga, Member of the Board of Cavatina Holding.

The new owner of the Krakow's complex is a consortium managed by Apollo-Rida Poland Sp. z o.o., which has been present on the Polish commercial real estate market since the beginning of the '90s. The company was inspired by David Mitzner, the icon and pioneer of the commercial real estate market in Poland, who specializes in developer and investment projects in the area of office, warehouse, and commercial properties.

“We are extremely proud that Equal Business Park is to increase the portfolio of our investments in Poland. This is one of the most attractive office buildings in Krakow, which has a very convenient location. The investment characterizes with perfect quality of space, common areas and a complex offer for users" – says Rafał Nowicki, Member of the Board of Apollo-Rida Poland.

Equal Business Park comprises of four office buildings class A. The complex is situated at Wielicka Street in the Krakow Podgórze district. It delivers comfortable office space. Tenants may benefit from many services: canteen, book shop, kindergarten, nursery school, cosmetic salon, café, shop, and greenery zones enriched with small architecture and art. The fourth phase of the investment, which is to deliver over 11 300 sqm, is under construction. Equal Business Park delivers ca. 60 641 sqm of office and service space to the market. The renowned companies that lease space in the investment are Integer (InPost), Sii, QVC, Kimberly Clark, Aptiv, Equiniti, Kingfisher, Delphi Technologies, Regus, or Krakowskie Zakłady Automatyki.

In 2016, Building B, a part of Equal Business Park, was honored with the title of the Best Office Building in the Capital of Little Poland (Krakow’s Asset Plebiscite organized by the City Hall). Two years later, the investment was distinguished with the architectural design in the Property Design Awards 2018 competition.

The seller was advised by CBRE and Dentons legal office, whereas the purchaser – by JLL and Penteris legal office.

“The sales of Equal Business Park proves that Cavatina Holding is currently one of the most significant developers in Poland who perfectly prepared assets for demanding institutional investors in respect of length and quality of lease contract and delivered buildings. The transaction and its scale show the unflagging interest of investors in Poland and investments in Polish regional cities. The purchase of such a meaningful complex is a forecast of the continuing trend from the previous year, which was a record-breaking year on the investment market in commercial properties with a total estimated transaction volume of over 7 billion euro" – says Przemysław Łachmaniuk, Director – Investment Properties at CBRE.

Cavatina Holding is a developer who dynamically increases its portfolio on the commercial real estate market and successively implements a development strategy in the largest Polish cities. Cavatina aims to carry out investments of total space amounting to 0.5 million sqm of innovative office space class A by the end of 2022. The developer has his own architectural studio and a general contractor within the full scope of project execution and fit-out.

 


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