Experience

Magnolia Park Shopping Center is a Wroclaw-based prime property originally developed by Octava S.A. on the 24ha site of a former meat production company.

The team implemented a liquidation and demolition of a former meat plant. It oversaw a pre-let of over 65% of the planned GLA and secured full development financing to build a ca. 76k square meter shopping mall. The project opened in autumn, 2007.

The team managed Octava’s sale of the project to Blackstone Group at a valuation of ca. 223m EUR.

Acquired in mid-2017 by the Onyx team, on behalf of Octava Property Trust.

• Renaissance Tower is a ca. 18.7k square meter GLA office building centrally located in Warsaw’s Wola district, .
• This over-leveraged, 50% vacant property was acquired for a low price, in agreement with the bank to conditionally write-off a portion of the debt.
• Onyx re-let and carried out the modernization of the property, resulting in its almost full lease-up.
• In 2022, the building was sold to the Adgar Group.

Acquired by Onyx in mid-2017, on behalf of Octava Property Trust

• Okęcie Park (formerly Centrum Krakowska 61) is a ca. 80k GLA house furnishings retail park with Auchan hypermarket and office complex located near the Okęcie airport in Warsaw.
• Upon its acquisition by OPT in 2017, the property suffered from years of underinvestment, a low WAULT and a ca. 10k square meter GLA (over 12%) structural vacancy of over 4 years.
• Onyx undertook an aggressive recommercialisation and refurbishment programme comprising capital investments of ca. EUR 10 million . As at August 2019, the property had a WAULT of 9 years and was 100% occupied.