UK property company CIT Group has purchased the Euromarket Office Center in Krakow, Poland, from ZEI Fund for a total sum of over EUR 32 mln. ZEI Fund is managed by Invesco Real Estate, which acquired the centre in 2002. The deal marks CIT's first foray into Central and Eastern Europe. Invesco was represented by Jones Lang LaSalle in the transaction, while King Sturge advised CIT.
UK property company CIT Group has purchased the Euromarket Office Center in Krakow, Poland, from ZEI Fund for a total sum of over EUR 32 mln. ZEI Fund is managed by Invesco Real Estate, which acquired the centre in 2002. The deal marks CIT's first foray into Central and Eastern Europe. Invesco was represented by Jones Lang LaSalle in the transaction, while King Sturge advised CIT.
Euromarket Office Centre is located in Krakow's northwestern district and comprises some 13,000 m2 of office space and a development site for an additional 4,500 m2 of space. Tenants include Fortis Bank Polska and BP Polska. The property is located close to the main arterial roads leading to Krakow airport and Warsaw.
