Pan-European private equity real estate investor Henderson Park has acquired 70% interest in an office portfolio in Poland from EPP, a listed company on the Johannesburg Stock Exchange (JSE).
EPP will retain a 30% stake in the portfolio and continue to manage the assets, in partnership with Henderson Park’s experienced asset management team.
The fully-let portfolio comprises 105,000 sqm of primarily brand new Grade A office space across 11 buildings, which are located in three of Poland’s top five largest cities:
- O3 Business Campus in Kraków, Poland’s second largest city, comprising three 11-storey buildings totalling 55,765 sqm and 1,205 parking spaces;
- Malta Office Park in Poznań, Poland’s fifth largest city, comprising six individual buildings of five to six storeys totalling 29,065 sqm and 599 parking spaces, and;
- Symetris Business Park in Łódź, Poland’s third largest city, comprising two ten-storey buildings totalling 19,287 sqm and 383 parking spaces.
Nick Weber, Founding Partner of Henderson Park, commented: “This transaction marks our entry into the Polish market, where we see great potential, and at an attractive entry level. Structuring this deal alongside a listed company fits well with our ethos of finding unique and innovative ways to access real estate investment opportunities on behalf of our investors. We look forward to both working alongside EPP, an experienced blue chip company, to manage these institutional quality office assets, and expanding our partnership in the years to come.”
Hadley Dean, CEO of EPP, said: “This partnership will allow Henderson Park and our office tenants to benefit from our know-how and experience as they continue to enjoy office management services of unparalleled quality. At the same time, it allows us to focus on our stated strategic goals involving developing and populating our retail portfolio in one of Europe’s most dynamic markets. We believe this is the best solution for our tenants and our shareholders”.
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