International real estate advisory firm Savills has advised AT Capital Group on the acquisition of the development plot at the junction of Grzybowska and Żelazna streets in Warsaw for the planned 140-metre-high Liberty Tower.
AT Capital Group is a Singapore based US$2.5bn family office with a portfolio of c. US$1 billion in real estate investments including commercial, residential and community space developments worldwide. Its Experion brand has won numerous awards for its innovative and affordable luxury projects. In Europe, the AT Capital Group is headquartered in Amsterdam, where it is developing a number of exciting projects including the Bajes Kwartier, a new City district of ca. 135.000 square meters encompassing residential, commercial, hospitality, student housing, care and community services in Amsterdam’s city centre. The development design promotes sustainable energy, innovative water systems and reusable materials.
Hywel Phillip, director of the AT Capital Group, said “We are delighted to have completed our first investment in Poland. Poland is an attractive market for real estate investment with great growth potential.”
Given current market conditions, AT Capital Group is considering the development of the Liberty Tower as a mixed use commercial and residential complex within a 140-metre-high tower (41 floors).
“The plot, at the junction of Grzybowska and Żelazna streets, is one of the most prestigious and still undeveloped sites in Warsaw. This part of Wola continues to see new multifunctional projects, including the adjacent Browary Warszawskie or Fabryka Norblina complex. This transaction illustrates the growing importance of mixed-use developments in the Polish investment market,” says Kamil Kowa, Board Member, Head of Corporate Finance and Valuation, Savills Poland.
“I am very excited that thanks to Savills support Warsaw city centre has a great opportunity to enrich its skyline with another landmark investment. The legacy and approach of AT Capital Group allows to assume that Liberty Tower will be turned into a fantastic development, which this location deserves and was waiting for – commented Tomasz Buras, CEO of Savills Poland”.
AT Capital Group was advised on the transaction by Savills and Agnieszka Stankiewicz of Greenberg Traurig Nowakowska – Zimoch Wysokiński sp.k (legal).