Poland's Griffin Premium RE, which was recently taken over by Globalworth Poland, has acquired the Warta Tower office building in Warsaw’s Wola district from Kulczyk Real Estate Holding for €55 mln.
The property, a 21-storey 82-metre-high tower, was completed in 2000 and provides around 28,000 m2 of gross lettable area occupied by Warta Insurance. It generates €5.9 mln of rental income with 3.5 years remaining on the lease.
'Globalworth Poland is very excited to be growing its portfolio with the acquisition of this sizable landmark asset in Warsaw following on from the high-quality offices in Wroclaw, Gdansk and Katowice acquired in December 2017. In addition to an attractive current income, this property offers excellent asset management potential,' said Malgorzata Turek, CEO of Griffin Premium RE
The purchase of Warta Tower marks the fourth office acquisition by Griffin Premium RE since December 2017 when Globalworth secured a controlling 72% stake in the company.
Globalworth Poland has the ambition to become the leading office landlord in Poland over the coming years.
