CEE developer-investor Afi Europe has agreed to acquire the Marynarska 12 office building in Warsaw’s Mokotów district from US investment firm Starwood Capital Group.
Financial details were not disclosed, but the deal is understood to be worth around €100 mln, making it the largest office real estate transaction in Warsaw of 2020.
The vendor was represented by global real estate services firm Cushman & Wakefield, which is also the property manager for the building.
Marynarska 12 provides around 43,000 m2 of space over eight floors and is leased to a major international telecommunication company and one of the world’s largest banks.
The vendor was advised by Soren Rodian Olsen and Marcin Kocerba from the Capital Markets team of Cushman & Wakefield.
‘The agreement signed demonstrates the continued attractiveness of the Polish office market for investors. We are proud to have advised the vendor on this transaction, which was also AFI Europe’s first acquisition of a Class A office building in Poland,’ comments Marcin Kocerba, associate, capital markets, Cushman & Wakefield.
Cushman & Wakefield, now acting as a property manager on behalf of the owner, previously represented two anchor tenants in the building.
‘The acquisition of Marynarska 12 office park is a milestone to strengthen AFI Europe position in Poland. We believe in modern assets with strong covenants. Currently AFI Europe is working on further transactions in CEE with strong focus on Warsaw office and PRS market,’ commented Michal Stepien, CEO of AFI Europe Warsaw activities.
AFI Europe for a long time was considered as a development company, however this has changed and the recent transaction […] is the beginning of a new investment strategy of the group in the area of office and rental apartments market,’ said Sebastian Kiec, CEO of AFI Europe Poland.
