Deka acquires Warsaw office building in largest CEE deal of 2009

Construction giant Skanska has sold Deloitte House in the central business district of Warsaw to a fund managed by German-based international investment management firm Deka Immobilien for EUR 117 mln. The transaction was the largest in Central and Eastern Europe so far this year.

The newly constructed, 21,000m2, Class A office building is the first certified green building in the Polish capital. The property officially opened this month.

Colliers represented Skanska and Clifford Chance acted as legal advisor. Jones Lang LaSalle acted for Deka.

Colliers also serves as property manager for the fully leased building. The global financial services firm Deloitte is the anchor tenant. 'Deloitte House is a best-in-class product in the European Union's best performing economy,' said John Banka, a director of Colliers International in Poland.

Skanska and Deka reached a preliminary sale agreement in September 2008. Originally called Atrium City, the building was renamed Deloitte House when the firm signed on as the anchor tenant, taking 14,600 m².

Colliers said that according to data supplied by industry research firm Real Capital Analytics the sale ranked as the fifth largest office sale in Europe, Middle East and Africa in 2009 to date, the year's largest transaction in Poland, and one of the top 12 office trades globally.