Benson Elliot’s latest pan-European value-add fund has invested €65m to buy an office complex in Warsaw from a fund managed by Heitman Real Estate.
The UK-based private equity real estate fund manager’s Benson Elliot Real Estate Partners V has bought Marynarska Business Park (MBP) from the unnamed Heitman fund.
MBP provides 46,000sqm of office space across four buildings, together with 1,400 car parking spaces.
Benson Elliot said it is planning a targeted refurbishment of the property which was developed in 2008.
Joseph DeLeo, Benson Elliot Senior Partner, said the Marynarska Business Park represents the second office investment in Warsaw for Benson Elliot in the last 12 months.
“The acquisition of MBP fits in well with our strategy of acquiring quality office assets in strong locations across Poland.
“We look forward to building on the park’s longstanding popularity, providing tenants with contemporary space in a healthy environment.”