Credit Suisse Asset Management Global Real Estate funds have bought an office portfolio in two Polish cities for €214m.
Skanska said it has sold the 22,800sqm Nowy Targ in Wroclaw and the 37,500sqm High5ive in Krakow to the unnamed funds.
The fully-leased Nowy Targ asset, which has just been completed, is a seven-story development in the heart of Wroclaw’s city centre.
Skanska said the third and fourth buildings of the High5ive office complex is expected to be completed during the fourth quarter of 2019 and the first quarter of 2020 respectively.
Adrian Karczewicz, head of divestment at Skanska commercial business unit in CEE, said: “Nowy Targ and High5ive are best-in-class assets built in prime locations in Wroclaw and Krakow.
“Top office buildings in Poland aren’t just found in Warsaw, but also in other regions and cities. There is a vast variety of investments to choose from and this brings in a lot of interest from investors who are willing to invest in more than one location and further diversify their investment portfolios.”
Francisca Fariña Fischer, head of real estate international at Credit Suisse Asset Management, said: “This portfolio of three prestigious office buildings in Wroclaw and Krakow is characterized by sustainable, high-quality construction and are in very attractive locations.
“Furthermore, Poland is a dynamic and liquid real estate market.”