Kulczyk Silverstein acquires Warsaw office building

Kulczyk Silverstein Properties (KSP) has acquired Holland Park, an office building situated in the centre of Warsaw.

The financial details of the transaction were not disclosed. The asset is the fourth prime addition to KSP’s portfolio.

KSP, a joint venture of Kulczyk Real Estate Holding and Silverstein Properties, purchased Holland Park from a fund managed by CBRE Global Investors.

Holland Park was developed by ING Real Estate Development and completed in 1998. The property comprises 10,400 m2 of office space, 1,420 m2 of retail and 108 parking spaces.

ING Bank and its affiliates occupy 81% of Holland Park.

The building is located in a prime area of the central business district in the vicinity of the Warsaw Stock Exchange, Sheraton Hotel, Polish parliament, government buildings and is part of the city’s 'Royal Route'.

KSP intends to refurbish, extend and reposition the asset.

KSP’s shareholders have developed, owned and managed more than 3.25 million m2 of commercial, residential, and retail space in the US and Eastern Europe combined.

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