Austrian office-focused property company CA Immo has purchased Building B of the Warsaw Spire Complex for around €100 mln from developer Ghelamco Poland.
The 21,600 m2 office building is 100% occupied by European Union agency Frontex as anchor tenant with a remaining lease term of around 7.5 years.
'The Warsaw office market is highly dynamic, with only a limited number of core investment opportunities. Housing a European Union tenant with a long-term commitment to the property, the Warsaw Spire Building B is a high-quality landmark scheme and a valuable addition to our core portfolio,' commented Frank Nickel, CEO of CA Immo.
'It will provide us with secure cash flow, strengthen our portfolio on the Warsaw core market and is a perfect complement to our high-growth development activities in Germany.'
The property's annual gross rental income is around €6 mln and adds to CA Immo's Polish portfolio. The office investor currently holds an investment portfolio worth around €290 mln in Warsaw alone.
Greenberg Traurig (legal), KPMG (tax) and Arcadis (technical) advised CA Immo.
