Skanska sells office building in Warsaw, Poland, for EUR 48 M, about SEK 510 M
Skanska has sold the first phase of the Spark office complex in Warsaw to a real estate fund of KGAL Investment Management GmbH & Co. KG, a leading German independent investment and asset manager. The value of the transaction is worth EUR 48 M, about SEK 510 M. The transaction will be recorded by Skanska Commercial Development Europe in the third quarter of 2018, with the transfer of the property scheduled for the fourth quarter 2018.
The building that has been sold offers a total leasable area of around 13,000 square meters.
When completed, the Spark office complex will comprise three buildings with a total leasable area of over 70,000 square meters. In the third phase of the project, a 130-meter high skyscraper will be built.
Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, the Czech Republic, Slovakia and the UK. Skanska develops commercial properties in selected home markets in Poland, the Czech Republic, Romania, and Hungary, while the company's residential development is active in Prague and Warsaw. Skanska also offers services in public-private partnerships. In 2017, Skanska had sales of SEK 37 billion and employed 16,000 people in its European operations.