Globalworth Real Estate Investments’ Polish subsidiary intends to buy two office buildings from Unibail-Rodamco-Westfield for around €190m.
Globalworth - which moved into the Polish market a year ago - said Globalworth Poland (GPRE) has entered into a preliminary agreement to buy the Skylight and Lumen buildings in Warsaw.
The buildings were completed in 2007 and offer a gross leasable area of 45,500sqm over 18 and 8 storeys respectively. Its occupancy is currently around 89%.
Dimitris Raptis, the deputy CEO and CIO of Globalworth, said: “We are excited by this major acquisition of landmark assets in the centre of Warsaw, representing our largest asset acquisition to date.”
Raptis said the acquisition will further enhance the company’s leadership in the Polish office market and aspirations in the CEE region and “reiterate our focus on acquiring assets with ongoing asset management opportunities and attractive total return potential”.
The acquisition is expected to be funded from GPRE’s existing cash resources.
Globalworth, which is listed on London’s AIM market, has a 68.4% shareholding in GPRE.