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As of late January, Apollo-Rida signed a deal with American Express for two floors in the Warsaw Trade Tower, which the company said is the latest sign of the building's re-emergence as a big-hitter on the Warsaw market and, together with a second blue chip company in the closing stages of negotiations, should bring Warsaw's tallest office building up to 50-percent occupancy.
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When the Warsaw Trade Tower changed hands two years ago, the market held its breath, wondering whether the building's new owner, Apollo-Rida Poland, would be able to shake off the negative air that surrounded it under the previous ownership of the beleaguered Korean concern, Daewoo.
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At a ceremonial gala at the InterContinental Hotel Jan. 27, Quality Awards were presented to outstanding developments and companies in Central and Eastern Europe in 2004.
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Davis Langdon Polska, the Polish branch of the UK- based independent construction cost consultancy practice, will occupy 370 square meters. Olaf Getting, a finance/legal advisory firm, signed a lease for 264 square meters. Warsaw Trade Tower is the tallest office building in Poland, and the 7th tallest office building in Europe. The building is located at the intersection of Chłodna and Towarowa streets on the Western Side of the Central Business District.
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Davis Langdon Polska, the Polish branch of the UK-based independent construction cost consultancy firm, has leased 370 square meters of office space at Warsaw Trade Tower (WTT) and has been joined in the building by Olaf Getting, a financial and legal advisory company that has taken up 264 meters of space. WTT's owner is Apollo-Rida Poland.
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Apollo Real Estate Advisors, L.P., the global property investment fund manager, through its vehicle, the Apollo International Real Estate Fund L.P., in partnership with Rida Development Corporation, has entered into an agreement to acquire 28 Metro-anchored shopping centers and free-standing stores in Poland in a transaction from Immopol GmbH & Co KG, a German property investment vehicle, for a total consideration in excess of 700 million Euros.
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Nike Poland, the sporting goods producer, has leased 1,193 square meters (an entire floor) at Warsaw Trade Tower, which is owned by Apollo Rida Poland. Other tenants in the building include KPMG, MSD Polska and the Warsaw Investment Group. The American investor has also finalized its transaction with Immopol GmbH & co KG, to acquire the latter's portfolio of Metro-anchored shopping centers across Poland. Apollo Rida had before announced this deal at MIPIM. held in Cannes in March.
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Warsaw—Nike Poland, part of Nike, a world leader in sporting goods, will occupy an entire floor measuring 1,198 square meters of office space at the Warsaw Trade Tower. Apollo-Rida Poland brokered the deal. NIKE Poland will join an existing list of world's renowned tenant! s such as: KPMG, MSD Polska (an affiliate of the US based Merck Inc.), EMC and the Polish-based Warsaw Investment Group.
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MSD Polska (Merck Sharp & Dohme Idea Inc.), a subsidiary of the U.S.-based Merck & Co. Inc, a research-driven pharmaceuticals concern, has signed a lease agreement to occupy the upper floors of the Warsaw Trade Tower, which is owned by Apollo-Rida Poland and is the tallest office building in Poland. Cushman & Wakefield H&B were agents for the deal.
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The EMC Corporation, which provides products, services and solutions for information storage and management, has renewed its lease for 524 square meters at Warsaw Trade Tower, owned by Apollo-Rida Poland. The deal was negotiated by Cushman & Wakefield Healey & Baker on behalf of the tenant.
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The brain trust of the Apollo and Rida companies and Eurohypo held a press conference at MIPIM in Cannes in March to announce the acquisition of 28 shopping centers across Poland by Apollo Real Estate Advisors through Rida Development Corporation.
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As far as the Polish market was concerned, the major announcement at MiPiM 2004 was madę by Apollo Real Estate and the Rida Develop-ment Corporation, that they were to ac±uire twenty eight Metro-anchored shopping centres and free-standing Stores, form the German Immopol GmbH & Co KG, for over zł.4.75 bil-lion (€700) million. The shopping centers arę master leased on a long term basis to affiliates of the Metro Group, a German retailer, whose brands include the hypermarket group, Real, the electronics chain Media Markt and the Praktiker DIY stores. The debt financing of up to zl.2.92 billion (€615) million for the transaction is being put up by Eurohypo, the Dusseldorf-based, specialised bank for real estate and public sector financing.
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