Przystanek mBank in Łódź Changes Owner
Przystanek mBank in Łódź, an office project being developed by Ghelamco will have a new owner upon completion.
Companies from Ghelamco group and long-term investor LCN Capital Partners, have signed a preliminary sale agreement and agreed on a forward purchase assuming the successful completion and occupancy of mBank.
Companies from Ghelamco group have signed a preliminary agreement of sale of shares of the company that owns the Przystanek mBank project to sale-leaseback and build-to-suit investment specialist, LCN Capital Partners through their Luxembourg based, LCN European Fund II SLP. The final agreement will be made after meeting the conditions specified in the preliminary agreement and will be finalized no later than 31st October 2018. The Ghelamco group companies were advised by JLL in structuring and brokering the transaction. Legal advice was provided by the international law firm Hogan Lovells.
“The agreement has been one of the biggest transactions on the Łódź property market in recent years. The success encourages us to further invest in the office property market in Łódź, which we believe still has very high growth potential,” said Jeroen van der Toolen, Managing Director CEE, Ghelamco.
“The sale of Przystanek mBank confirms the attractiveness and liquidity of the main office markets other than Warsaw. A-class buildings in excellent locations and with long-term lease agreements continue to enjoy considerable interest on the part of the investors, also those such as LCN, which are only just entering the office market in Poland,” said Rafał Kosoń, Associate Director, Office Investment, JLL.
Przystanek mBank is the first project of Ghelamco Poland implemented in Łódź and one of the most modern office buildings in the city. The investment was delivered in the very center of the city, at ul. Kilińskiego 74, in the vicinity of the renovated EC1 complex and the new train station Łódź Fabryczna.
In addition to the newly-built, six-floor office building, the complex also includes a historical palace with an annex, which was harmoniously integrated into the project. The investment also offers an underground parking lot with around 180 places and sophisticated infrastructure for cyclists with 140 places for bicycles as well as other amenities (locker rooms, showers).
Overall, the buildings offer around 24,000 sqm of office space, which will be fully occupied by mBank Group. Signed in December 2015 for a period of 12 years, the lease agreement has been one of the biggest agreements on the Polish property market in recent years. In November 2016 Przystanek mBank was awarded in the prestigious property market competition CIJ Awards in the Best Office Lease of the Year category. The bank will move into its new headquarters in the second half
Press release and photos by Ghelamco.