Polish GTC, a real estate investor and developer in Central and Eastern Europe, has announced the completion of the sale of the Matrix C office building in the Croatian capital, Zagreb, for €27 million, as well as land in Warsaw worth €55 million.

A Benchmark for Sustainability

Matrix Office Park is located at the intersection of Slavonska Avenue, Heinzelova Street, and Radnička Road.

Matrix Office Park Building C is a prime, DGNB-certified office building with two underground parking levels, totaling approximately 10,341 m² of GLA and 20,439 m² of GBA. The building consists of a two-story underground garage, a ground floor with mixed-use (retail) spaces featuring an entrance lobby and supporting facilities, and six floors designated for office use.

Matrix C was a pilot project for obtaining the international DGNB certification and was fully adapted to meet its requirements and criteria. The DGNB certification system is the only one aligned with EU regulations and standards, which is why the Croatian Green Building Council focuses on promoting this certification.

Over time, the system has become a global benchmark for sustainability and has proven to be the most advanced due to its comprehensive approach to evaluating buildings and urban areas. It is the only certification that equally values the economic and environmental aspects of sustainable buildings.

Matrix C is the third in a series of office buildings that GTC has financed over the past five years, built by Kamgrad.

The first two buildings of Matrix Office Park, located on the outskirts of Zagreb's business district, were completed in 2019 and 2020, respectively. They currently offer approximately 21,280 m² of modern, sustainable office spaces, retail units, warehouses, and parking spaces available for lease by domestic and international companies.

Achieving a Strategic Goal

Additionally, GTC’s sale of Matrix C, part of the Matrix Office Park complex in Zagreb, has generated €13 million in free cash flow. The building was sold at a book value of €27 million.

“This strategic asset disposal aligns with our goal of cash consolidation and increasing our financial flexibility,” said Gyula Nagy, CEO of GTC. Regarding the sold property in Poland, the land in Wilanów was sold to one of Poland’s leading residential developers for €55 million, representing a 20% premium over its last book value.

GTC Group is a leading real estate investor and developer focusing on Poland and major cities in Central and Eastern Europe. Over its 30 years of operation, GTC has built 82 modern office and retail buildings of high standards, with a total area of 1.4 million square meters.

GTC currently actively manages a portfolio of 45 commercial properties, providing approximately 745,000 square meters of office and retail space for lease in Poland, Budapest, Bucharest, Belgrade, and Zagreb, as well as a residential real estate portfolio in Germany.