POLAND Griffin Premium RE has made its debut on the Warsaw trading floor.
The company has also secured a number of new leases for office space in its buildings. Griffin Premium RE raised app. EUR 28 mln from its issue of new shares (app. PLN 120 mln). The price per share was set at PLN 5.7. “We will use the funds acquired to expand our real estate portfolio. Around EUR 18 mln will be invested in purchasing the West Link office building in Wrocław from Echo Investment, which should be completed at the end of Q1 or early Q2 of next year and is now almost fully leased to a well-known tenant, Nokia, for a period of seven years,” revealed Dorota Wysokińska-Kuzdra, the CEO of Griffin Premium RE. “The remaining funds will be invested in three office projects developed by Echo Investment in Warsaw. Our initial stake in the projects will be 25 pct, but we will have first purchase rights for the remaining 75 pct share upon their completion. If we use this right, the total value of our real estate portfolio will increase from over EUR 500 mln to over EUR 170 mln,” added Dorota Wysokińska-Kuzdra.
The company has also managed to acquire a new tenant for its Supersam office and retail centre in Katowice: Groupon Shared Services Poland. The company, which services the international operations of the entire group, is to occupy the top floor of the building in the summer. Around 250 people will be employed over an area of 2,300 sqm. The tenant was represented by CBRE for this transaction. Griffin Premium RE has also retained tenants in two other buildings. Cheminova Polska, a subsidiary of global group FMC Corporation, has decided to prolong its lease of 240 sqm in the Batory I office building in Warsaw, where it has been located since 2006. Vedim, which is part of international bio and pharmaceutical group UCB, has also decided to extend its 560 sqm lease in the Nordic Park office building in Warsaw’s Powiśle district, where it has been a tenant for eleven years.