Format is a modern top-class office building, superbly located right next to the PKP/SKM Oliwa train station. The building was commissioned into use in the first quarter of 2022, with its total leasable area amounting to nearly sixteen thousand square metres. Even though the commercialization process of Format coincided with most testing times, due to the pandemic and its respective fallout, the building was soon fully leased out. The reputation of Torus, the construction quality, along with the attractive tenant mix, soon afterwards collectively caught the eye of the capital market investors. In May 2024, Greenstone, a foreign fund which specialises in private equity investments, acquired from Torus an 80% ownership stake in the building. Now, just a year later, the entity has finalized the acquisition of the remaining 20%, becoming a sole proprietor of Format.
- Not even a year has gone by since we sold the 80% stake in Format office building, and the purchasing party, Greenstone fund, decided to acquire the remaining part of the building. It stands as evidence of trust, along with the reliability and value of the investment product we have created. We have observed a growing interest shown by foreign capital funds within our market, which validated a positive perception of its developmental prospects. It serves as a good indicator and incentive for companies like ours to further invest in attractive lands or monumental facilities, with the aim to commercialize them in the future. Format, yet another multi-year investment project of ours has come to an end. Now, it is time to turn to consequent ambitious undertakings, among others, in the mixed-use category, on the adjacent plots of land – says Przemysław Ryś, Torus Chairman.
- As a CFO, responsible for the operational closing of this very transaction, I am proud to say that the sale success of Format does not only stem from our own hard work, but also from the perfect cooperation we have enjoyed with our partners. Accomplishing the full lease of the building in the challenging times of the pandemic, indicates the high quality of our product, along with the flexibility of our team. From the financial perspective, the transaction has proved to be profitable, and also acknowledges our investment strategy which zones in on creating value in the long term. We are certain that our future projects, including the mixed-use investments, will be equally successful, and will contribute to the further development of the property market in the Tricity - says Tomasz Pietrzkiewicz, Torus Deputy Chairman, Chief Financial Officer
Format is being occupied by renowned lessees, including ERGO Technology & Services, Foundever, Mako TSL, Dr. Oetker, Assa Abloy Mercor Doors, Siemens Gamesa, Symfonia and Finsa, along with collab, a Torus-branded operator of flexible office spaces.
Until today, across numerous investment projects, we have delivered over 180,000 square metres of leasable area, while having finalized eight sale transactions of our properties to seven various funds, for a combined fee of more than four-hundred million Euro. Additionally, our portfolio embraces investments in hotels (including ambitious revitalizations), warehouses, and residential facilities. A solid organizational structure, team of professionals and branch experts, alongside vast market know-how, allow us to perform the roles of the investor, general contractor, skilful commercialization entity, property manager, or an interior and volume designer.
