Poland Huge deal for Greenstone

The vendor was Torus, a commercial property developer, which was advised during the transaction process by Cushman & Wakefield and law firm Greenberg Traurig. The buyer was advised by LegalKraft and Trebbi. In placing the capital of international institutional and non-institutional investors, Greenstone is focused in particular on the Polish office market. After it sold Tensor in 2022, it is now back in Tricity with the acquisition of a majority stake in Format.

There is no denying that that current situation on the office market differs a lot from that a few years ago. While a post-covid correction continues, high quality projects are always on the winning side and can positively stimulate the market. Although Format was built and commercialised in a pandemic and post-pandemic environment, it reached full occupancy and has now found a buyer.
Sławomir Gajewski, CEO, Torus

Format offers nearly 16,000 sqm of office space. It's located in a business district of Gdansk, at the border of Oliwa and Przymorze Małe. It features architectural and technological solutions taking account of environmental aspects and allowing for building a healthy and friendly work environment for which it has been awarded LEED Platinum and “Building Without Barriers” certificates. Format is leased to Ergo Technology & Services, Foundever, Mako TSL, Dr. Oetker, Assa Abloy Mercor Doors, Siemens Gamesa, Symfonia, and Finsa. Another tenant of the office building is collab, a flexible office provider operating under the Torus brand.