Benson Elliot has added a Polish office asset to its fourth value-add European property fund.
The manager said the Benson Elliot Real Estate Partners IV (BEREP IV) fund has acquired Chmielna 134 office building in central Warsaw from an institutional fund for an undisclosed sum.
Built in 1995 and refurbished in 2012, the property comprises 14,100sqm of modern office space, with ground-floor retail and 96 car parking spaces.
Joseph DeLeo, senior partner at Benson Elliot, said: “We’ve been engaged in Poland’s regional office markets for several years, but see a compelling investment story in Warsaw now too.”
DeLeo said the company is well-positioned to capitalise on the opportunity and look forward to delivering an exciting new urban workplace in this increasingly sought-after locale.
Benson Elliot said the latest acquisition takes manager’s Polish office holdings to more than €200m.
