CA Immo sums up the first year of operation following the acquisition of Europolis

It has been a year since the acquisition of the East European regional offices of Europolis by the Austrian investor CA Immo. Today, the company's portfolio in Poland comprises seven office buildings, two office parks, and two warehouse parks – more than half a million square metres of rental space in total, which makes the company a leading investor in the market for commercial space in this part of Europe. The first year of combined operation turned out to be very busy and successful. The CA Immo team scored successful negotiations and won new leases. In 2011, they leased out more than 160,000 m² in office and warehouse space.

Andrzej Mikołajczyk, Managing Director of CA Immo in Poland, summarizes the first year of combined operation: "It was not an easy year. Any business combination involves the need to take care of many organisational aspects which are not directly related to the core business. This makes me view the results for the year 2011 as all the more satisfactory, and the new CA Immo Poland, which takes advantage of the synergies between the two strong players, as one of the unquestionable leaders of Poland’s real estate market.»

The largest transaction in the office portfolio was the lease extension of 2,600 m² of space to Shell, a global fuel industry leader, which decided to remain at the Business Center Bitwy Warszawskiej building at least until 2017. In total, the building at Bitwy Warszawskiej Street had lease extensions executed for more than 4,000 m².

In the Warsaw Financial Center, which has also housed the new CA Immo since March 2011, the largest transaction was an agreement with DLA Piper Wiater law firm, which extended its lease of 2,300 m². Other significant transactions were: an agreement for 1,900 m² with Wyborowa SA, a leader in the spirit industry, which decided to remain in the building for another 5 years, and the addition of 1,900 m² to the offices of Kompania Piwowarska, which extended its lease until 2017. New lessees included two international concerns Halliburton and Alstom, a brokerage house of JP Morgan, and Fortum, a Finnish energy company. In total, last year the Warsaw Financial Center executed leases for more than 13,000 m² of office space.

As far as the Warsaw Towers is concerned, the two most significant leases were executed with the existing tenants. Procter Gamble, one of the largest FMCG global firms, increased its rental space by 1,400 m², whereas Korporacja Ubezpieczeń Kredytów Eksportowych SA (Export Credit Insurance Corporation, which insures trade transactions of Polish businesses, decided to remain at the office building for another 5 years and extended its lease of 1,800 m² of space. The Warsaw Towers also won three new lessees, who leased a total of nearly 700 m² of space. Thanks to the recent transactions, 100 per cent of the building's office space has been leased out and only commercial space remains available.

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