Developer-investor Kulczyk Silverstein Properties (KSP), a joint venture of Kulczyk Real Estate and Silverstein Properties, has purchased two office buildings in central Warsaw for an undisclosed amount. The vendor is Hochtief's Polish development arm.
Developer-investor Kulczyk Silverstein Properties (KSP), a joint venture of Kulczyk Real Estate and Silverstein Properties, has purchased two office buildings in central Warsaw for an undisclosed amount. The vendor is Hochtief's Polish development arm.
The assets, which provide a total of almost 18,000 m2 of office and retail space, are currently being renovated with delivery planned for mid-2013 and mid-2014. On completion, they will obtain a BREEAM environmental rating, the company said in a statement.
'The two new investments are in line with KSP's strategy to create a portfolio of commercial properties in the best locations of the largest cities of the CEE region,' said KSP board member Piotr Krawczyñski.
The building at the Ma³achowskiego Square was erected in 1910 and used to house the Polish post office. The scheme at the intersection of Œwiêtokrzyska and Mazowiecka Streets served as the headquarters of Wydawnictwa Naukowo -Techniczne. Delivery is scheduled for August 2013.
