Dentons’ Real Estate team in Warsaw has advised Skanska’s commercial development business unit on the conclusion of a preliminary sale agreement with Hansainvest Real Assets for the Generation Park Y office building in Warsaw. The €285 million deal is the largest transaction in the history of Skanska’s commercial development business unit in Central and Eastern Europe, and at the same time the largest office investment in the region in 2021.

The Generation Park is a three-office building complex developed at Rondo Daszyńskiego in Warsaw, with the approximate total leasable area of 88,000 sq. m. The following stages of the investment refer to X, Y, Z generations.

Offering 47,600 sq. m. of the leasable area, the Generation Park Y (140 meters) is the highest building in the complex. The facility was completed in 1Q 2021, and has 38 levels above ground as well as four levels underground. The Generation Park Y project is distinguished by, among others, sky-office space areas (double the standard height) as well as a 15-meter high green wall of over 6,000 plants, located in the lobby. Also, there is a terrace on the highest level of the building with an impressive view of Warsaw.

Dentons team advising Skanska was led by Bartłomiej Kordeczka, Partner and Deputy Head of the Real Estate practice in Poland and counsel Martyna Racz-Suchocka with the assistance of associate Anna Misztela.

In 2021, Dentons’ Real Estate team advised Skanska on the 10-year lease of the Generation Park Y entire office space to PZU Group. It was the biggest lease in the history of the office market in Poland and in the history of Skanska Group worldwide. Last year, Dentons’ lawyers also advised the client on the sale of the Generation Park Z office building.

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