IRE divests Alma office scheme in Warsaw

Invesco Real Estate has sold the Alma office building in Warsaw's Mokotow district to the Polish private equity company Rotaria for an undisclosed amount.

Alma is a fully-leased office property offering 6,000 m² of lettable area. The main building was developed in the 1960s and was substantially refurbished in 1998. The adjoining two-storey section was erected in 2001. Key tenants include Renault, RCI Bank, Pol-Assistance and Call Center Poland.

'The sale of this building was a long-term strategy plan that we were forced to revisit after 2009,' said Tomas Picha, head of Transactions for CEE at Invesco Real Estate.

Invesco was the asset manager of the property on behalf of the owner, PRP Sp. z o.

'We managed to hold the building 100% let since its acquisition in 2002 and I am pleased that eventually there are Polish private equity investors that are liquid enough to acquire commercial properties across Polish markets.'

The buyer was advised by Cushman & Wakefield, Savills acted for the vendor.