Deka buys Andersia tower in Poznan

Deka Immobilien has acquired the 19-storey Andersia tower, a flagship mixed-use development in the Polish city of Poznan from Von der Heyden Development, the service consultancy arm of the German Von der Heyden Group (VDHG). The financial details were not disclosed.

The fully-let building consists of class A office space and a hotel managed by IBB Hotels. VDHG said that it has attained a record low capitalisation rate with the transaction, and added that such a cap rate has never before been achieved in any Polish city outside of Warsaw.

'Irrespective of the current turbulences on the world financial markets Deka has been brave and forward thinking to acquire this prime property from us in an all-cash transaction. The Von der Heyden Group remains closely related to the building given our involvement in IBB Hotels as the operator of the Hotel component. As always, our closest advisors of Knight Frank and Clifford Chance have greatly contributed to a smooth and professional closing', said Sven von der Heyden, chairman of VDHG.

Adam Trybusz, managing director for Poznan, VDHG, said: 'Poland is developing and becoming increasingly attractive not just because of Warsaw's booming property market. The country's economic development is also evident in the economic growth of its regions. Secondary cities like Poznan, Wroclaw, Katowice, Krakow, Gdansk and Lodz all have plenty to offer in terms of Prime Property international real estate which is highly sought after because of the cash flows it generates, the quality of tenants it attracts, and the urban planning of its district. I am glad that this moment has arrived.'

VDHG was advised by Knight Frank Sp. z o.o.