Dentons has advised Skanska’s commercial development business unit on the conclusion of a preliminary sale agreement for the sale of a portfolio of two joint buildings in the Centrum Południe office complex in Wrocław and the High5ive office building in Kraków. The investment valued at €128 million has been acquired by Stena Real Estate BV, part of the Swedish Stena Group, a company operating on the commercial real estate market. The transaction is expected to be finalized in Q2 2022.

Centrum Południe is multi-stage and the largest Skanska’s investment in Wrocław. The complex will ultimately comprise five buildings with a total area of 85,000 sq. m. Located in Powstańców Śląskich Street, the property combines office, commercial and recreational functions. The transaction concerns two joint office buildings offering 28,000 sq. m. of leasable area that have been constructed/developed within the first phase of the project.

The High5ive investment in Kraków consists of five modern office buildings with a total gross leasable area of 70,000 sq. m. The complex is located right next to the Main Railway Station, Galeria Krakowska shopping mall, and the historic city center. This is the third sale transaction of the High5ive facilities, which Dentons advised on. The sale of the first two office buildings in this complex was completed in July 2018. In April 2020, Skanska executed the final sale agreement for another two office properties. The last office building, which is the subject of the transaction, will be completed in the Q1 2022.

Transaction advisory was provided by Bartłomiej Kordeczka, Partner and Deputy Head of the Real Estate practice in Poland, partner Magdalena Szwarc-Brożyna and senior associate Arkadiusz Dębski.

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