Warsaw office specialist Adgar Poland has finalised the acquisition of the Renaissance Tower in Warsaw from Octava Property Trust.
Financial details were not disclosed.
The property, located in Warsaw's Wola district, comprises over 18,000 m2 and will be modernised to meet the standards of the rest of Adgar's portfolio, which includes another 11 Warsaw offices.
Renaissance Tower is a 15-storey office building which was developed in 2001, and renovated in 2013. Following further refurbishment works, the property will be rebranded Adgar Renaissance Tower.
Michael Mevorach, country manager, Adgar Poland, said: 'After the purchase last year of Adgar PDT Wola, we announced that this is not the end of our ambitious plans in this part of Warsaw. Adgar Renaissance Tower significantly strengthens our offer both in terms of the supply of modern office space and business efficiency.
'The high standard of the building is no less important than the diversification of the locations where tenants can use our traditional rental services or the Flexi Lease format. Adgar Poland offices are now available, apart from Wola, also in the center of Warsaw, in Mokotów and Ochota.'
Adgar Renaissance Tower will also become another location where Adgar Poland offers its coworking solution, dubbed the Brain Embassy.
'We always make all purchasing decisions after a thorough analysis of the current investment status and the implementation potential of our proprietary rental concepts.
'The advantages of Adgar Renaissance Tower, related to the location and communications infrastructure, the standard of finish, the availability of parking spaces, the possibility of further restructuring in the process of creating effective, friendly workplaces, are all elements that perfectly fit into our plans,' added Robert Wloszek, operating director of Adgar Poland.
