Greenstone, a private equity fund, has finalized the acquisition of the remaining 20% stake in the Format office building from Torus, becoming the sole owner of the property. This follows Greenstone's initial purchase of an 80% stake of Format office in May 2024. Just like in the first transaction, the seller was supported in this process by experts from the international advisory agency Cushman & Wakefield.
About Greenstone
Greenstone is a private equity fund specializing in investments in commercial real estate on the Polish market. It focuses on acquiring and actively managing high-quality assets, allocating capital from both private and institutional investors.Since 2017, Greenstone has invested approximately EUR 150 million, completing the acquisition of three office buildings in regional cities – Tensor Office in Gdynia, Lastadia Office in Szczecin, and Format in Gdańsk – as well as one retail property, Centrum Haffnera in Sopot. The fund stands out for its value-maximization strategy and its consistent pursuit of above-average returns, making it one of the most efficient players in the Polish real estate market.
About Torus
Torus is a leading developer in the Polish real estate market, known for delivering modern office spaces that meet the highest standards of quality and functionality. Up to now, Torus has delivered above 180,000 square meters of leasable space onto the Tricity market, and conducted eight sales transactionsof its office real estate (Format Office building, five buildings of Arkonska Business Park, and four stages of Alchemia) to seven various funds, both domestic, and international ones, for a combined fee of nearly 400 million Euro. The sale of Format is part of Torus's strategy to recycle capital for new development projects.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit http://www.cushmanwakefield.com.