Eastnine secures EUR 280 million acquisition of Warsaw Unit
Deal News | Dec 04, 2024 | Gernandt & Danielsson Advokatbyr
Eastnine AB, a Swedish real estate company, has successfully completed the acquisition of the Warsaw Unit, a 46-storey office tower located in Warsaw, Poland. This transaction, valued at EUR 280 million, is reported as the largest office property deal in Europe for the year 2024. To finance the purchase, Eastnine utilized existing cash reserves, a secured five-year green bank loan worth EUR 168 million, and a set-off issue of new shares amounting to EUR 41 million. Gernandt & Danielsson Advokatbyr, a law firm, advised Eastnine on this landmark transaction. The advisory team included partners Bjrn Svensson and Gustav Skog Nyvang, as well as senior associate Simon Wetterholm and associate Philip Brn. This acquisition aligns with Eastnine's strategy of investing in modern, sustainable office spaces in prime locations across Poland and the Baltics. Eastnine is publicly listed on Nasdaq Stockholm and focuses on sustainable real estate developments.
Sectors
- Real Estate
- Financial Services
- Legal Services
Geography
- Sweden – Eastnine, the acquiring company, is a Swedish real estate firm listed on Nasdaq Stockholm.
- Poland – The acquisition target, Warsaw Unit, is located in Warsaw, Poland, making it a key geographic focus.
Industry
- Real Estate – The transaction involves the acquisition of a significant office property, indicating the primary industry focus on real estate.
- Financial Services – The financing components, including a bank loan and share issue, highlight the involvement of financial services in structuring the deal.
- Legal Services – Gernandt & Danielsson's role in advising the acquisition adds relevance of the legal services industry.
Financials
- EUR 280 million – Total purchase price for the Warsaw Unit acquisition.
- EUR 168 million – Secured five-year green bank loan used to finance the acquisition.
- EUR 41 million – Value of the set-off issue of new shares in Eastnine to assist in financing the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Eastnine AB | Acquiring Company | Company | A Swedish real estate company focused on sustainable office properties, listed on Nasdaq Stockholm. |
| Gernandt & Danielsson Advokatbyr | Legal Advisor | Company | A law firm advising Eastnine on the acquisition of the Warsaw Unit. |
| Warsaw Unit | Target Company | Company | A 46-storey office tower located in Warsaw, Poland, acquired by Eastnine. |
| Bjrn Svensson, Gustav Skog Nyvang, Simon Wetterholm, Philip Brn | Legal Advisors | People | Members of the Gernandt & Danielsson team advising Eastnine on the acquisition. |