Building the new future of work with V Tower

There’s much debate about the future of work. But what about the future of work places? How do we build high-quality office spaces that are sustainable, future-proof and operationally efficient? In the heart of Warsaw’s central business district it’s a question our partners Cornerstone Investment Management and local Polish family office EFF have explored to the limit.

In 2023, Cornerstone and EFF acquired the 22-story landmark building V Tower; an iconic landmark of the Warsaw skyline. Their ambition? To reposition the asset from a single-tenant building into a modern, high-quality multi-tenant office.

Most new office supply in the region is delivered through new-build developments, where older properties are often demolished and replaced with entirely new buildings. In the case of V Tower, however, Cornerstone and EFF recognised that while the building required a substantial transformation to meet new build standards, it remained structurally sound and well suited for refurbishment rather than replacement. Instead of pursuing a new-build development, the owners chose to undertake a comprehensive shell-and-core renovation of the existing, but

slightly outdated, V Tower. The project involved extensive upgrades to the building’s components while retaining key structural elements such as the frame and façade.

By upgrading and reusing the existing structure, the project achieved specifications comparable to those of a new-build, while at the same time delivering an estimated 85% reduction in embodied carbon compared to constructing a similar tower from scratch.

Our unfailing belief in the commercial benefits of ESG makes partnerships like this extra rewarding. “We believe V Tower is a compelling example of capital being invested on attractive terms for the principals while also delivering clear ESG benefits for a broader group of stakeholders, including significantly reduced CO₂ emissions” explains our Managing Director Petter Björklén.

The comprehensive, tailored financing solution refinances all existing facilities, enabling the completion of the refurbishment’s final stages as the project moves into its commercialisation phase.

“V Tower is a clear example that you don’t need to start from scratch to create a top-quality office building. From the beginning, our goal was a deep, thoughtful revitalisation – and we needed a financing partner who believed in that approach. P Capital Partners understood the project and backed a vision that focuses on reuse, quality and long-term value.” says Przemek Pikus, Senior Partner, Cornerstone Investment Management

Congratulations to the entire V Towers team on reaching this incredible milestone – and for proving your commitment to sustainable construction. We’re proud to support you in this next stage of your journey.

To learn more about this partnership, contact Petter Björklén pb@pcapital.se or Viktor Eklind ve@pcapital.se