CA Immo signed and closed a Sales and Purchase Agreement to acquire the centrally located Warsaw Spire C office building comprising of 21,700 sqm GLA in Warsaw, Poland. The transaction volume of the fully rented landmark Class-A property amounts to around € 100 m, the annual gross rental income reaches around € 5.4 m. With this transaction, CA Immo takes another step in its CEE core market expansion strategy, setting the path for continued growth of the companies´ recurring earnings. According to plan, the acquisition will already contribute to recurring earnings (FFO) of CA Immo in the fourth quarter of 2018. Greenberg Traurig (legal), KPMG (tax) and Arcadis (technical) acted as advisors to CA Immo. 

Andreas Quint, CEO of CA Immo: "This acquisition further strengthens our presence in one of the most attractive microlocations in central Warsaw, which is one of the most dynamically developing markets in CEE. The Warsaw Spire Building C is a high-quality landmark scheme; it will provide us with secure cash flow, strengthen and rejuvenate our portfolio on the Warsaw core market and perfectly complements our recent acquisition in Warsaw, the adjacent Spire Building B." 

Jeroen van der Toolen, Managing Director CEE at Ghelamco: “It is another transaction that has been done together with CA Immo, and at the same time a proof of trust and satisfaction of our cooperation from both sides. I am truly glad that the last office building of the Warsaw Spire complex, which is Ghelamco’s flagship investment in Poland, is now in the hands of a reliable and trustworthy investor, who also owns the building B. Warsaw Spire is not only the biggest and the highest office complex in the country but also a strong and recognizable brand, which stands for the highest quality of office space, prestigious location and spectacular commercial success.”

The seller of Warsaw Spire Building C is the Developer Ghelamco Poland, who completed the Warsaw Spire condominium in 2015 and still holds the office tower in the complex, together with Madison International Realty, a major investor in real estate across the US and in Europe. In contrast to Warsaw Spire Building B, which is entirely occupied by the Headquarters of Frontex (the European Border and Coast Guard Agency of the European Union), Warsaw Spire Building C is a multi-tenant building.

Warsaw Spire Building C – Location and Features 
Warsaw Spire Building C is part of the Warsaw Spire complex, which was elected Best Office & Business Development at Mipim Awards 2017. The Spire complex consists of three buildings: a 220-metre tall office tower (Spire A) and two flanking buildings of identical size and shape (Spire B and C, both now owned by CA Immo). Warsaw Spire Building C offers 21,700 sqm Gross Lettable Area as well as 241 underground parking spaces and is located in the City Centre West at European Square near Rondo Daszyńskiego, which is fastly becoming the new commercial hub of Warsaw. Its position provides exceptional private and public transport connections, including Warsaw’s new second Metro line as well as multiple tram and bus routes, offering occupiers quick and easy access to and from all Warsaw districts.

CA Immo in Warsaw* 
The Polish asset portfolio, which accounted for approximately 12% of the total portfolio of CA Immo, consists of eight office buildings in Warsaw. The book value of the portfolio comprising around 136,700 sqm is approximately € 470 m, the occupancy rate stands at 96%. 
*Incl. Warsaw Spire Building C