Commerz Real has acquired the Harmony Office Center in Warsaw for its open-ended real estate fund hausInvest europa. The total investment volume for the office scheme, which has a gross lettable area of about 19,300 m[sup]2[/sup] and was completed in 2008, approximates EUR 56 mln. It is let in its entirety and for a period of 10 years to Bank Millenium, the fourth-largest financial institute in Poland. On the Commerz Real side, the transaction was facilitated by Savills.
Commerz Real has acquired the Harmony Office Center in Warsaw for its open-ended real estate fund hausInvest europa. The total investment volume for the office scheme, which has a gross lettable area of about 19,300 m2 and was completed in 2008, approximates EUR 56 mln. It is let in its entirety and for a period of 10 years to Bank Millenium, the fourth-largest financial institute in Poland. On the Commerz Real side, the transaction was facilitated by Savills.
‘With the acquisition of the Harmony Office Center, we demonstrate our continued interest in the Polish market. In 2008 we bought a Warsaw office scheme for our open-ended real estate fund hausInvest global,’ said Hans-Joachim Kühl, Board Member of Commerz Real and in charge of real estate acquisitions. ‘Poland counts among the European markets that have been least impaired by the financial and economic crisis but actually report sound economic growth. As the country’s administrative, trading and financial hub, Warsaw shows attractive market potential, which hausInvest europa should benefit from.’
Commerz Real said the Harmony Office Center offers good accessibility between the inner city and the office district of Mokotów and a good connection to the airport. The office scheme, which consists of three interconnected buildings, meets the highest international standards and features outstanding fit-out qualities, it added.
