Germany’s KGAL Investment Management is expanding its real estate portfolio in the Polish capital with the acquisition of the Villa Office office property from developer Echo Investment.
KGAL bought the 14-storey asset on behalf of a pan-European real estate special Alternative Investment Fund (AIF) for around €87 mln.
The multi-tenant office building provides 16,700 m2 of office space completed in 2020. It is part of a larger district development project on a former brewery site, where 50,000 m2 of office space and 10,000 m2 of restaurant space will be built alongside 1,000 residential units. The assets is leased on long term rental agreements to high profile international companies such as Accenture and WeWork.
‘Villa Office impresses with its urban location and its high standards of architecture, sustainability and quality of stay. In particular the different facilities available on the former brewery site make the location highly attractive,’ said André Zücker, managing director of KGAL Investment Management with responsibility for the real estate asset class.
Colliers brokered the deal.
