Austrian property firm FLE's €2 bn Luxembourg-based investment fund FLE Sicav FIS has made its first foray in the Polish market with the acquisition of the Wratislavia Center mixed-use complex in Wroclaw’s Old Town.
Financial details were not disclosed.
The complex, comprising a five-star Sofitel hotel, offices, ground-floor retail units and an underground parking, encompasses 17,000 m2 of gross lettable area.
'The asset perfectly matches the investment criteria of the fund. It has an outstanding location in the absolute heart of an important Polish city with very strong anchor tenants,' commented Alexander Klafsky, managing partner of FLE.
The buyer was advised by White & Case. Knight Frank represented the seller, while Dentons provided legal advice.
