IVG Warsaw Fund has acquired the Feniks office building in its 10th deal in the Polish capital since 2011.
IVG Warsaw Fund has acquired the Feniks office building in its 10th deal in the Polish capital since 2011.
The fund acquired Feniks from a joint venture of developer Europlan and Warsaw-based Griffin Group, which provided mezzanine financing for the project, for an investment volume of about €39 mln.
Feniks comprises 8,600 m2 of modern office space over eight storeys which is fully leased to a bank; 1,000 m2 of retail and 90 parking spaces on Zelazna Street in the Wola business district of the city.
IVG Warsaw Fund has now acquired 10 assets in the Polish capital since 2011. Last month the fund completed the purchase of Le Palais Offices for €31 mln.
The fund is managed by IVG Institutional Funds. Investors in the vehicle include a German insurance company, a German pension fund and an institutional investor from Austria. The IVG branches in Vienna and Warsaw are responsible for the fund and asset management.
Colliers International was the exclusive agent in the sale for the vendors, with Linklaters and MDDP also advising on the sell side. IVG was advised by Dentons, Hogan Lovells, Cushman & Wakefield and DIL.
