Germany's Deka Immobilien has acquired the fully-let North Gate office building in Warsaw, Poland for EUR 103 mln. The building was sold by two companies in the Austrian Volksbank Group, which developed North Gate via its project development company Premiumred.
Germany's Deka Immobilien has acquired the fully-let North Gate office building in Warsaw, Poland for EUR 103 mln. The building was sold by two companies in the Austrian Volksbank Group, which developed North Gate via its project development company Premiumred.
With construction completed in 2008, the 24-storey property comprises total lettable floor space of around 30,000 m2 and is located in the centre of Poland's capital city, on the historic thoroughfare Bonifraterska Street, with excellent local transport links. It is mostly let to pharmaceutical company Sanofi Aventis, but accommodates in total 25 tenants.
The building will be included in the investment funds portfolio of the WestInvest InterSelect open-ended mutual property fund.
