Polish investment fund Octava Fizan has acquired a portfolio of six offices across Poland for an undisclosed amount.
Polish investment fund Octava Fizan has acquired a portfolio of six offices across Poland for an undisclosed amount.
The properties are FDS Plaza and Light House in Warsaw; Quattro Forum in Wroclaw; Winogrady Business Center in Poznan; Red Tower in Lodz and Alfa Plaza in Tri-City.
The portfolio, totalling 48,300 m2 of gross lettable area, was carved out from a larger platform, the Arka BZ WBK Property Market Fund, which was the first closed-end commercial real estate fund to be established in Poland in 2004.
JLL advised Octava Fizan on the commercial aspects of the deal while Nordic-Baltic law firm Magnusson provided legal and tax advice.
Ostava, a company which has been listed on the Warsaw Stock Exchange since 1997, is a minority stakeholder in Octava Fizan.
Back in 2011 JLL advised Octava on the disposal of the Magnolia Shopping Centre in Wroclaw. Blackstone Real Estate acquired the asset from Octava NFI and Manchester Securities Corporation for €110 mln on behalf of its Polish shopping centre platform, King's Street Retail.
