Guardian Managers has purchased the Batory Office Complex in Warsaw on behalf of the Guardian New Europe Emerging Cities Fund. The deal includes the existing Batory Office Building I, which is fully let on long-term leases and the Batory Office Building II which is currently under construction. Jones Lang LaSalle acted for Guardian Managers.
Guardian Managers has purchased the Batory Office Complex in Warsaw on behalf of the Guardian New Europe Emerging Cities Fund. The deal includes the existing Batory Office Building I, which is fully let on long-term leases and the Batory Office Building II which is currently under construction. Jones Lang LaSalle acted for Guardian Managers.
The Batory Office Complex is situated in the business district of the Polish capital and is being developed by Liebrecht & Wood. The existing property comprises 6,393m2 of rentable office space over six floors. Phase II will offer 7,704m2 of rentable office space over six levels and is planned for delivery in the second quarter of 2009.
Tomasz Puch, associate director at Jones Lang LaSalle Capital Markets team in Poland, commented, 'With the significantly reduced number of investment transactions throughout the CEE Region, Guardian managed to secure very good quality product in a convenient and growing location with long-term income and at the same time with yields set competitively to the current market.'
