The Piastów Office Center located near the very heart of City of Szczecin consists of 3 office buildings totalling 21,000 sqm of A-class commercial premises. The complex has been leased to modern IT/TELCO companies and business processing administrations. Besides offices there is an established retail component such as canteen, bank and insurance outlets, medical facilities and gym.

“We have been seeking an acquisition in Szczecin for a long time and we are pleased that we have managed to acquire this attractive office complex, as it is one of the best and most promising office buildings in the area, and we have no doubt about its future growth,” comments Paolo Panico, Director of BUD Holdings SA.

„Following significant increase in our real estate portfolio in December 2024, we continue to grow and to strengthen our position on the largest and the most robust market in CEE. We have already successfully set our foot in the TriCity and now have spread our presence to Szczecin. These regional markets are booming and attracting the companies from businesses such as IT/TELCO, maritime, logistics and banking. The stable rental income from this property will help achieve INVESTIKA Real Estate Fund´s target return of 4 – 6 % p.a. for its investors,“ says Petr Čížek, Chairman of the Board of Directors of INVESTIKA investment company which manages INVESTIKA Real Estate Fund, open ended mutual fund.

“Purchase of Piastów Office Center, being the first office property investment transaction in Poland in 2025, gives INVESTIKA Real Estate Fund a strong starting position into the year. Szczecin is considered as one of the most stable office real estate markets in Poland, with long-term low vacancy rate and stable rental development. The unique architecture of the project and highest quality of used materials guarantee the longevity of the project, which combined with our long-term active asset & property management strategy in place makes us convinced about asset´s increase in value in the long run,“ says Rafał Proczek, Director of INVESTIKA Polska Services, that is cooperating with INVESTIKA investment company in management of the Polish part of INVESTIKA Real Estate Fund´s portfolio.

INVESTIKA Real Estate Fund and BUD Holdings were advised by LegalKraft and Savills in Poland. The Seller was advised by Cushman Wakefield and Greenberg Traurig.

About INVESTIKA (the Buyer on behalf of INVESTIKA Real Estate Fund)

INVESTIKA is Czech investment company licensed by the Czech National Bank for managing and administering investment funds. Established in 2015, as of 31 January 2025, INVESTIKA managed over CZK 27 billion in assets of managed investment funds with nearly 100,000 investors across all its managed funds.

INVESTIKA’s flagship fund, INVESTIKA Real Estate Fund, is the largest non-bank real estate fund for retail investors in the Czech Republic and Slovakia, managing over CZK 21 billion. The fund targets at 4-6% annual return, thanks to highly diversified portfolio spanning across property types, tenant sectors, and countries, including the Czech Republic, Poland, Croatia and Spain. www.investika.cz

BUD HOLDINGS (the Buyer)

BUD Holdings is a private equity company based in Luxembourg, which deals with private equity investments mainly in real estate assets. It focuses its attention on the preparation and realisation of investments in Central and Eastern Europe, usually in cooperation with a strong majority shareholder. During the last 3 years, BUD Holdings as a co-investor participated in real estate transactions amounting to more than 500 million EUR. www.bud-holdings.com

“Acquisition of P180 office building is one of our three transactions in Poland this year. We highly value professional cooperation with Skanska on seller´s side and also with our joint-venture partner, INVESTIKA investment company. P180 is without doubt one of the best assets available on the Warsaw property market recently,” comments Paolo Panico, Director of BUD Holdings SA.

„For our investors we acquired the premium and top sustainable office asset in Warsaw´s sought-after business district. The property is almost fully leased to reputable tenants and we are working on the leasing of the remaining premises. The P180´s stable rental income is going to contribute to the fund´s long-term target investment return between 4% and 6% per annum for our investors,“ adds Jaroslav Kysela, member of the Board of Directors at INVESTIKA investment company that manages INVESTIKA realitní fond.

“The sale of P180 demonstrates that the Warsaw office real estate market continues to attract selective investors. This building, distinguished not only by its prime location near the Wilanowska metro station but also by its top-tier sustainability certifications and standards, appeals to those seeking long-term value and stability. We are delighted to have partnered with experienced entities like INVESTIKA realitní fond and BUD Holdings SA in this transaction and are confident that P180 will continue to meet the expectations of both its tenants and new owners,” says Mariusz Krzak, Executive Vice President Operations Poland and Czech Republic at Skanska Commercial Development Europe.

„Having been completed in 2022, P180 office building has been providing top office workplace to blue-chip international tenants. As to ESG, P180 has become our most sustainable asset meeting the highest scores of international certifications LEED Platinum, WELL Gold Core & Shell and WELL Health & Safety, which is reflected by building’s hight energy efficiency of the building and lower cost for the tenants. With our long-term active asset & property management strategy in place, we are convinced about asset´s long term increase in value,“ says Rafal Proczek, Director of INVESTIKA Polska Services, that is responsible for management of Polish part of INVESTIKA realitní fond´s portfolio.

P180 Sustainable Aspects

P180 is an office building that supports its owner as well as its tenants achieve sustainable development goals and reduce greenhouse gas emissions. According to data collected as part of LEED certification, P180 consumes as much as 47.9% less energy per year, saves 3.9 million liters of water, and emits 3,969 tons less carbon dioxide than a reference building. P180 was the first building in this part of Europe to be constructed using low-carbon concrete. There is a sidewalk outside the building that neutralizes the level of pollutants in the city air.

Inside there are solutions such as a digital lighting interface and an advanced building management system that adapts the operation of the installation to current needs and identifies unnecessary energy consumption. Additionally, through the “green leaf” function, employees receive a device responsible for the room temperature and light intensity. It provides information about the impact of the settings on the energy used – the leaf icon lights up green in energy saving mode and red when consumption is too high.

The building’s reduced environmental impact is also due to its location, which encourages the use of sustainable transport. Perfectly located next to the Wilanowska metro station as well as on the crossroads of multiple bus and tram lines, P180 is surrounded by a green area with landscaping designed by Skanska. Amenities for cyclists include a glassed-in bicycle area with access from the street, seamlessly integrated into the lobby, a repair station, changing rooms and showers. The building also provides parking and charging facilities for electric cars.

PLGBC Green Building Awards 2024

P180 received recognition for achieving the lowest carbon footprint. The asset meets the standards of the most demanding certifications: LEED Platinum, WELL Gold Core & Shell, WELL Health-Safety Rating, and Building without Barriers.

ABOUT INVESTIKA (The Buyer)

INVESTIKA is Czech investment company licensed by the Czech National Bank for management and administration of investment funds providing investment services. It was established in 2015 and as at 31 October 2024 it managed over 27 billion CZK. As of the same date, the number of investors in all five INVESTIKA funds reached 98 thousands.

INVESTIKA’s flagship is the real estate fund called INVESTIKA realitní fond, which, with 20 billion CZK investment capital under management, is the largest non-bank real estate fund for small investors in the Czech Republic and Slovakia. The fund targets a stable return of 4%-6% per annum which is being achieved thanks to the strong diversification of its real estate portfolio in terms of building type, the sectors in which their tenants operate and the countries where the real estate assets are located. INVESTIKA realitní fond owns properties in the Czech Republic, Poland, Croatia and Spain. www.investika.cz

ABOUT BUD HOLDINGS (The Buyer)

BUD Holdings SA is a private commercial company based in Luxembourg, which deals with private equity investments mainly in real estate assets. It focuses its attention on the preparation and realisation of investments in Central and Eastern Europe, usually in cooperation with a strong majority shareholder. During the last 3 years, BUD Holdings SA as a co-investor participated in real estate transactions amounting to more than 250 million EUR. www.bud-holdings.com

ABOUT SKANSKA COMMERCIAL DEVELOPMENT EUROPE (The Seller)

Skanska commercial development business unit is a leading office and living sector developer in the CEE operating in four countries: Poland, Hungary, Romania and the Czech Republic. We use knowledge & foresight to shape the way people live, work, and connect. Together with our customers, partners and the collective expertise of our teammates, we create future-focused and sustainable places and solutions that support healthy living beyond our lifetime. Our projects are certified in the LEED, WELL Core & Shell, and WELL Health-Safety Rating systems. www.skanska.pl

he 212,500-sqm-portfolio consists of prime logistics properties, almost fully leased to a diverse range of production, logistics, retail and e-commerce tenants.

Assets that became part of the portfolio in December 2024

„INVESTIKA Real Estate Fund has been successfully operating as an investor on the Polish real estate market since 2021 and I am delighted that – thanks to this acquisition – we have further strengthened our position in the largest and most robust market in Central and Eastern Europe. The portfolio of 5 logistics parks we´ve acquired from developer 7R comprises of high-quality logistics properties, almost fully leased to well-known tenants from production, logistics, retail and e-commerce sectors. This acquisition will contribute to sectoral rebalancing of INVESTIKA Real Estate Fund´s portfolio and achieving its long-term target return of 4 – 6 % p.a. for its investors,“ says Petr Čížek, Chairman of the Board of Directors of INVESTIKA, investment company which manages INVESTIKA Real Estate Fund, open ended mutual fund.

Alongside our existing investments, primarily in office buildings, we have decided to focus on the logistics sector as well. We believe in the future value growth of this type of real estate, particularly when it comes to such a high-quality product as the portfolio from 7R undoubtedly represents,” added Paolo Panico, Director of BUD Holdings SA.

„All five logistics parks guarantee long-term stability of rental income from a diverse group of reputable tenants. With their exceptional quality, these properties represent a rare chance for investors seeking a sizeable, diversified and stabilized portfolio,“ comments Chris Zeuner, Co-CEO and member of the Board of Directors at development company 7R.

„The newly acquired assets are strategically located and have functional layouts offering much sought-after flexibility for tenants. They are all compliant with BREEAM international environmental certifications and selected buildings are also equipped with photovoltaic panels. We have prepared with partners long-term active asset & property management plans for each of the assets in order to enhance their value for investors in INVESTIKA Real Estate Fund in the years ahead,“ says Rafał Proczek, Director of INVESTIKA Polska Services, that is responsible for management of Polish part of portfolio for INVESTIKA Real Estate Fund.

INVESTIKA Real Estate Fund and BUD Holdings were advised in Poland by Linklaters, Colliers, Avison Young, REALS as well as CRIDO. Bank Berlin Hyp provided project financing. 7R was advised by A&O Shearman.

The Tensor complex, completed in 2017, is characterized by its architectural quality as well as its excellent location in the administrative-business district of Gdynia. Together with Gdansk and Sopotas, it forms the dynamically developing region of the Tri-Towns, which according to surveys is currently the most desirable place to live in Poland. At the same time, in a promising Polish economy, it is one of the five most attractive regions for investors with extraordinary growth potential for the future.

The complex, consisting of three separate buildings with a total leasable area of over 20,000 square meters, has the BREEAM Excellent sustainability certificate and is now fully occupied. The 15 tenants include stable international companies such as the Nordic financial group Nordea Bank or the logistics company DB Schenker. The weighted average length of lease contracts (WAULT), which reaches 6 years in this building, is also above standard.
With the acquisition of the Tensor complex, real estate fund INVESTIKA continues to fulfil its vision of becoming a real estate fund with a wide range of assets across Europe and assets worth one billion euros under management. “Our fund capital is growing rapidly thanks to the increasing interest of investors – it now amounts to more than 11 billion crowns. Besides the Czech Republic, Poland and Western Europe, we now have in our sights acquisitions in other regions that have significant potential in terms of achieving a long-term attractive and stable return,” concludes Kovář.

Real estate fund INVESTIKA, an open-ended mutual fund managed by INVESTIKA, investiční společnost a.s., has since its inception in 2015 focused on valuing client`s money through conservative investments in commercial real estate. It is currently the second largest retail real estate fund on the Czech market with a fund capital of 11.3 billion crowns. It has already brought its general public clients a valuation of almost 37%* (CZK class) since its inception. The Euro asset class was also created in 2020, which achieved a performance of 8.96% for the whole of 2021*. More information about the investment company and real estate fund INVESTIKA, OPF, can be found at www.investika.cz.

BUD HOLDINGS SA. is a private commercial company based in Luxembourg, which deals with private equity investments mainly in real estate assets. It focuses its attention on the preparation and realisation of investments in Central and Eastern Europe, usually in cooperation with a strong majority shareholder. During the last 3 years, BUD HOLDINGS SA. as a co-investor participated in real estate transactions amounting to more than 150 million Euros. More information about BUD HOLDINGS SA. can be found at www.bud-holdings.com.

The property is occupied by a stable tenant on the basis of a long-term lease contract in the form of an American company operating in the automotive sector. In addition, the entire complex is characterized by a high level of applied technologies, in which more than 100 million euros have been gradually invested in the past. “Demand for commercial properties in the field of logistics and production is currently very strong from tenants and investors, with potential for further growth in the future. In this particular case, we also had the opportunity to take over an extremely high quality fully occupied complex in a desired location, which will further deepen the geographical and sectoral diversification of assets in our fund,” said portfolio manager of the real estate fund INVESTIKA Václav Kovář, adding that the seller was a Belgian investment fund.

He also stressed that the transaction will contribute to a substantial increase of the WAULT weighted average of lease term in real estate fund INVESTIKA to 5.5 years. “This indicator is important. The higher the value of WAULT in a real estate fund, the more predictable its future income becomes,” added Václav Kovář.

For real estate fund INVESTIKA, this is the third acquisition in Poland since it entered abroad for the first time with the purchase of the Szyperská office complex in Poznan less than a year ago. The acquisition of the production-logistics complex was completed by the fund together with the Luxembourg private equity company BUD HOLDINGS SA., which owns a minority stake in the acquired real estate company.

In addition, at the beginning of this March, the acquisition of two service centres for buses and trucks MAN in Gdansk and Wroclaw was formally completed. INVESTIKA, the real estate fund, announced the signing of a contract for this transaction with a total value of more than CZK 400 million already in November 2021. “We have not given up on the Czech Republic, but foreign acquisitions are now often more attractive than Czech ones in terms of fulfilling the fund’s objectives,” said Kovář.

The fund has financed the current acquisition in Poland thanks to strong investor interest from its own funds – the influx of new investments from people, who, among other things, are approached by a long-term target yield of 4-6% per year, amounts to hundreds of millions of crowns every month. In addition, several other acquisitions are already in the sights of the real estate fund INVESTIKA. “These are mainly large office projects in Poland,” the portfolio manager of the fund described the nearest plans.

ABOUT real estate fund INVESTIKA, open-ended mutual fund
Real estate fund INVESTIKA, OPF, whose manager is INVESTIKA, investiční společnost a.s., entered the Czech market in 2015. The fund offers conservative investments with attractive returns to its clients from the general public and since its inception it has brought investors a return of almost 35%* (CZK class). In 2020, the Euro asset class was also created, which achieved a performance of 8.96% for the whole of 2021*. The volume of assets under the fund’s management totalled CZK 10.5 billion at the end of 2021. More information about the investment company and real estate fund INVESTIKA, OPF, can be found at www.investika.cz.

ABOUT BUD HOLDINGS SA.
BUD HOLDINGS SA. is a private commercial company based in Luxembourg, which deals with private equity investments mainly in real estate assets. It focuses its attention on the preparation and realisation of investments in Central and Eastern Europe, usually in cooperation with a strong majority shareholder. During the last 3 years, BUD HOLDINGS SA. as a co-investor participated in real estate transactions amounting to more than EUR 100 million. More information about BUD HOLDINGS SA. can be found at www.bud-holdings.com.