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Grzybowska project sold

Alex Hayes 29 November 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Grzybowska project sold
The tower is to be built next to the Warsaw Hilton
POLAND Golub GetHouse has sold a 170m tall residential tower with apartments for rent that it plans to build on ul. Grzybowska 59 in Warsaw.

Golub Gethouse names LRC Group as the buyer but Eurobuild CEE has established that the SPV that has purchased the project is partly owned by Atrium Real Estate and also has a third shareholder whose identity has not yet been established.

Eventually the building is to include 900 rental apartments. “We are very proud of completing the transaction, which is unique on the Polish real estate market. In a forward-purchase transaction we have sold a project of a fantastic high rise designed by Kuryłowicz & Associates, which will be developed in the heart of the new business centre of Warsaw,” commented Cezary Jarząbek, the CEO of Golub GetHouse

With this acquisition, LRC will become one of the largest owners of high-quality residences for rent in prime Warsaw locations. LRC plans to further extend its portfolio through a secure pipeline.

On completion, the building is also to include a 24-hour reception desk, a spa centre, a gym ad yoga zone, a squash court, a cinema screening room, a residential lounge, games room and co-working spaces. Construction work is scheduled to begin at the beginning of 2021.

Golub GetHouse was advised by Crido and BCLA while the purchaser was advised by Dentons.

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