Real Estate

Cavatina with preliminary agreement to sell three buildings

Cavatina with preliminary agreement to sell three buildings

Carbon Tower in Wrocław, Ocean Office Park A and Tischnera Office in Kraków – this is a real estate package that is to be acquired by an affiliate of Lone Star Funds. The buildings, belonging to Cavatina Holding, one of Poland's largest office developers, offer a total of nearly 66 thousand sqm of GLA, and their average lease rate is at the level of approx. 90%. The planned buy/sell deal is another portfolio transaction of Cavatina Group, which in 2020 sold three Equal Business Park office buildings (A, B and C).

Cavatina Holding has signed preliminary agreements on 14 June 2022 for the sale of Carbon Tower, Ocean Office Park and Tischnera Office projects. The sale of the properties, upon fulfillment of conditions precedent, is to be finalized by the end of November 2022.

Well-considered, beneficial transactions, such as the one we intend to make with partners like Lone Star, are the result of our philosophy and operating model. In Cavatina we built the competences necessary for each stage of investment in commercial real estate. This allows us to sell the assets at the optimal time for us”,  says Daniel Draga, Vice-President of the Management Board of Cavatina Holding.

All the properties designed and developed by Cavatina Holding are characterized by original architecture, high quality construction and solutions applied, convenient locations providing communication with various parts of the city and a well-thought-out mix of service points, relaxation and green areas. As a result, tenants put much interest in those buildings irrespective of the volatile market situation. Additionally, they appreciate the flexible package of Cavatina Holding services including fit-out and adaptation of the space to their specific needs. Cavatina Holding's entire portfolio is environmentally certified under the international BREEAM standard and the WELL Health-Safety Rating.

We operate mainly on regional markets in Poland. We know their specificity very well and we approach each project individually. As a result, we they just perfectly fit it into the surroundings and meet the tenants' expectations”, explains Daniel Draga, Vice-President of the Management Board of Cavatina Holding.

Carbon Tower is a 15-storey A-class office building with extraordinary architecture. It is in the heart of Wroclaw's western business district, at Fabryczna Street, but close to the city's main transport hubs, Legnicka Street, AOW and the airport. The office building offers over 19 thousand sqm of high-class office space. It features an extensive bicycle infrastructure, numerous amenities for tenants, Quickwork serviced offices and a medical facility. The quality and high standard construction with pro-environmental approach is confirmed by the BREEAM certificate on the Very Good level.
 
Ocean Office Park A is the first building of a mixed-use complex being constructed in Krakow's Zabłocie district. The office building completed in the third quarter of 2021 offers approx. 13 thousand. sqm. of modern office space and parking spaces in an underground 2-storey garage. Thanks to the use of energy-efficient and environmentally friendly solutions, the complex has been granted the BREEAM certificate at the Excellent level.
 
Tischnera Office is an office building with a total lease area of nearly 34 thousand sqm. It is currently occupied by tenants such as Sabre, Skanska, SII, Tyrens, drEryk or INNERGY. The investment meets BREEAM requirements on Very Good level. The office building is distinguished not only by its location and original design, but also by its amenities. There are green cascade terraces with a total area of over 1.6 thousand sqm and internal patio with greenery and small architecture.
Cavatina Holding Group, which specializes in mixed-use projects, has previously successfully sold four properties Equal Business Park A, B and C in Krakow in June 2020, Chmielna 89 in Warsaw in September 2020 and Diamentum Office in Wroclaw in 2019.