GalCap Europe enters the Polish market

12 December 2018

New player on the Polish market – GalCap Europe, investment and asset manager for Austria and the CEE region, finalized its first commercial real estate acquisitions in Poland. The investor purchased two historic boutique office buildings in Warsaw City Centre – Wilcza 46 and Mokotowska 33/35 from Amhola. The buyer and the seller decided not to disclose any purchase price details. GalCap Europe was advised by Savills, Linklaters, Crido and DIL. The Seller was represented by Colliers International and MDDP.

The portfolio of two boutique offices located in Warsaw City Centre South comprise ca. 7,500 sqm of office and retail GLA let to reputable tenants such as Museum of Polish History, Adam Mickewicz Institute, State Mining Authority, SMEs Advocate Office and others as well as renowned fashionable restaurants such as Bazar Kocha and Nolita – one of the most prestigious dining places in Warsaw.

GalCap Europe was founded by Dr. Manfred Wiltschnigg, Marco Kohla and Paul Hallam in 2015. The well-established company has been specializing in investment and asset management in Austria and the CEE region. Main clients include German pension funds, insurance companies, family offices and Anglo-Saxon private equity funds, for which GalCap Europe is active as local partner in the region.

Amhola is a private equity investment company specializing in international commercial and residential property developments in Poland, Ireland, UK, and Denmark. In Poland, Amhola’s main focus are Warsaw CBD office properties that could be substantially refurbished and upgraded.

The acquisition of these two properties is another important step in building up a diversified portfolio, according to Marco Kohla, Managing Partner of GalCap Europe. “Acquiring Wilcza 46 and Mokotowska 33/35 is a unique investment opportunity on Warsaw’s market, which due to their superb location and timeless character perfectly fits to our growing portfolio in the region. The two assets are perfect examples for our value-driven investment approach: well-established buildings in the most central locations, not predominantly long-term lease contracts”.

“This acquisition will be a great starting point for GalCap’s expansion in Poland. Both buildings are among most prestigious locations in Warsaw which shall remain appealing to tenants and resilient to future supply of office space,” – adds Marek Paczuski, Deputy Head of Investment, Savills.

“Boutique, historic office buildings in high street locations in Warsaw represent an interesting niche for both developers and institutional real estate investors. There is a limited supply of such properties in Warsaw, and they are leased to smaller tenants, whom owners of typical large scale offices are not able to attract,” – adds Hubert Iwanicki, Associate Director, Investment Services, Colliers International.