IVG snaps up BTC Office Center in Warsaw

German investor IVG Institutional Funds said on Friday that it has acquired the BTC Office Center in Warsaw from local firm BTC Invest on behalf of one of its special funds.

Although the parties have agreed not to disclose the purchase price, IVG's head of th Warsaw branch, Maciej Zadel said the transaction is the company's second largest in the Polish office sector after the EUR 29 mln purchase of the Victoria office building in October 2010.

Completed in 2002, the 10-storey office building features 8,700 m² of rentable space and a total of 160 parking spaces. It is fully let to a number of tenants including Iberdrola Renewables Polska, BIC Polska, SII, International Masters Publisher, AXA, Raiffeisen Bank Polska, Opera Software Poland and Open Finance.

The state-of-the-art building is located directly on an underground station in the Mokotów district, one of the preferred business locations in the Polish capital between.