Tristan opportunity fund invests in Polish development site
Tristan Capital Partners’ value-add real estate fund has acquired a development site in Poland for an undisclosed sum.
The site with full development rights was bought by Tristan’s €1.5bn European Property Investors Special Opportunities 4 (EPISO 4) fund together with Avestus Real Estate, the fund’s local operating partner and development manager for the project.
Located in the university city of Wroclaw, the site has planning rights to build around 22,365sqm of prime office space with a retail component. It will be known as Infinity.
Tristan said the site is ready for immediate development to achieve a delivery date during the third quarter of 2020.
Wroclaw is the second investment made by a Tristan Fund and Avestus into the Polish office market.
The firms previously completed on the acquisition of an office park in Krakow in May 2015.