Torus has sold the fourth and final stage of the Alchemia business compound in Gdansk – the Neon office building. The buyer is a global real estate securities master fund – DWS, which made the purchase to one of its German retail real estate funds . The net value of the transaction is over eighty million Euro.
The construction of Neon took two years and was completed in October 2019. The building has over 35,000 square metres of leasable area, including 33,500 square metres meant for offices (with the area of a typical office floor standing at over 3,000 sqm). Slightly more than 1,500 square metres are dedicated to commercial services located on the ground floor, which complete the walkway – a space for meetings and spending time located between the buildings of Alchemia. Just like the previous stages of the compound, the Neon building is LEED-certified at the highest, Platinum level. The building is an architectural and functional complement of Alchemia, which was designed entirely by APA Wojciechowski Architekci design studio.
- With this sale, we complete the whole, 10-year long investment project called Alchemia. All four stages were successfully commercialised and sold to various investment funds, confirming the quality and value of our buildings. The current transaction is particularly pleasing - the negotiations lasted several months and took place in difficult pandemic reality - says Sławomir Gajewski, President of the Board of Torus.
DWS is one of the world’s leading investment securities master funds with EUR 759 billion worth of assets (as at September 30, 2020). The company has been investing in real estate assets for over 50 years, with the total value of the investments amounting to over EUR 65 billion euro (as at September 30, 2020).
Torus is one of the leaders among Polish office real-estate developers. To date, including the Neon building, the company has completed seven sales transactions of its office properties to six different funds (five buildings of the Arkońska Business Park and four stages of Alchemia) for the total amount of nearly EUR 370 million.
Legal services on the part of Torus were provided by the Greenberg Traurig law firm, while the transaction team was led by Agnieszka Stankiewicz (Partner) and Rafał Siwek (Senior Associate). The sale of Neon is the second highest transaction in Torus’ history in terms of value, and one of the most significant in the history of the Tricity office market.
