Greenstone has acquired from Torus the Format office building in Gdańsk

The Greenstone fund has purchased from developer Torus a stake of nearly 80% in the special purpose vehicle that owns the Format office building in Gdańsk, according to Cushman & Wakefield, which advised the seller in the transaction. This is the first such major sale of a new office building in regional markets in Poland since 2022.

"There is no denying it - the current situation in the office market is strongly different from what it was just a few years ago. The Pocovid correction is still going on, but on the other hand, as history shows, quality projects always defend themselves, moreover, they can positively stimulate the market. We built and commercialised the format in pandemic and post-pandemic times, and yet it was 100% leased and found a buyer. It is particularly gratifying that for the first time in our company's history there is not a single square metre of leasable space in the office building at the time of sale," said Torus CEO Slawomir Gajewski.

The building offering nearly 16,000 sqm of office space is located in the business district of Gdańsk, on the border of Oliwa and Przymorze Mały. Tenants include ERGO Technology & Services, Foundever, Mako TSL, Dr. Oetker, Assa Abloy Mercor Doors, Siemens Gamesa, Symfonia and Finsa.

Source: Torus and ISBnews