French investor Paref Gestion has acquired three office properties in Krakow, Poland, from Balmoral Properties.
The assets form part of the city's Browar Lubicz scheme, a mixed-use development that blends the architectural elements of the former brewery and a modern building. The three office buildings have a combined area of 7,500 m2.
Financial details were not disclosed.
The property is located at Lubicz Street, directly opposite Krakow Main Railway Station and Galeria Krakowska, just 800 metres from Krakow’s Main Market Square.
Paref acquired the properties on behalf of SCPI Interpierre Europe Centrale.
Tenants include one of the leading app-based mobility service providers, CentralNic, a multinational holding company providing domain name registry services, web hosting and web traffic monetisation, and YGGDrasil, a Swedish provider of gaming solutions.
Savills advised Balmoral on the disposal.
Tomasz Buras, CEO and head of investment, Savills Poland, said: 'Thanks to its prime location, Browar Lubicz ties in with the strategy of investment funds targeting assets close to key transport hubs. It is unique in being one of very few modern office buildings located so close to the historic Main Market Square and the Tower of St. Mary’s Basilica.
'The transaction is a confirmation of the continued trust and confidence of cross-border capital in high quality properties in Poland.'
Balmoral Properties was advised on matters of investment and leasing support services by Savills and Jakubaszek & Wspólnicy on legal aspects.
Paref was advised by Dentons on legal matters and BNP Paribas Real Estate on technical aspects.
