Nacarat, the French developer, disposed of its Dubois 41 prime office building in Wrocław to the Hamburg based company Warburg-HIH Invest Real Estate GmbH for its institutional real estate fund “Europa Select Immobilien Invest” for approx. EUR 21 million. Cushman & Wakefield, a leading global real estate services firm, has represented the seller.
Dubois 41 is a seven-story A-class BREEAM certified office building located on a city center waterfront site in Wrocław. The building is part of a commercial and residential development project launched by Nacarat Polska in the fashionable, emerging district of Nadodrze. This area is the natural first choice for urban young professionals because of its unique climate, vicinity to the Old Town and excellent public transport connections. Dubois 41 comprises 8 031 sqm of A-class lettable office and retail space surrounded by a high quality public square which gives the building a distinct urban appearance, as well as excellent visibility. Dubois 41, delivered in May 2015, is entirely leased to two US-based multinationals: 3M and Parker Hannifin with an average remaining lease term of 6.1 years.
Warburg-HIH Invest Real Estate (Warburg-HIH Invest) is a real estate investment manager serving institutional investors and covering the entire spectrum of national and international real estate investments. Warburg-HIH Invest is one of Germany's leading managers of special AIF for real estate, with real estate assets of c. EUR 5.7 billion under management. Warburg-HIH Invest, as a quality provider, supplies products and services with added value. This pursuit matches the quality standards set by both of its shareholders, HIH Real Estate and the private bank M.M.Warburg & Co founded in 1798.
Nacarat is a leading real estate developer on the French market, as well as a niche player in Belgium and Poland. Nacarat is the development arm of Groupe Rabot Dutilleul, a privately held French construction and development company founded in 1920. Nacarat SAS was established in 2009 via the merger of three regional development companies of the Rabot Dutilleul group: Palm Promotion, Bâti Conseil and Sedaf. In 2014, Nacarat generated over EUR 267 million in sales revenue while selling 1 340 residential units and 17 785 sq m of commercial space. The company employs over 220 people in 14 regional offices in France, Belgium and Poland. Nacarat Polska started operations in March 2011 and currently has two other active development projects in Wroclaw and is looking to launch additional projects in Wroclaw, Warsaw and Krakow.
Andreas Schultz, Managing Director at Warburg-HIH Invest, said, “The Polish economy has proven robust during the most recent crisis in 2009, and was the only national economy in the European Union that did not slide into recession. In the coming ten years, we moreover expect the gross domestic product of Poland to grow at a much faster rate than that of Germany and the rest of the eurozone. Wrocław, Poland's fourth-largest city, has a sound infrastructure and a high potential in skilled professionals, making it one of the most dynamic cities in the country.”
Eugène Houx, CEO of Nacarat Polska Sp. z o.o., said: “We are quite proud of Dubois 41. The building embodies our development philosophy: creating landmark buildings, well embedded in their urban environment without making any compromises on functionality and quality.
Soren Rodian Olsen, Associate, Capital Markets, Cushman & Wakefield, added, “Dubois 41 is a great example of delivering comprehensive services to clients. Cushman & Wakefield leased the whole office space, was responsible for the tenants’ office design and fit-out coordination and is the property manager of the building. We were also representing the owner in the sale process in order to secure the best offer. Wroclaw is a very attractive location for international investors looking for a stable income stream.”
More information on Dubois 41 at: http://dubois41.pl/