Austrian investor Raiffeisen Immobilien KAG has purchased the Warsaw Corporate Center (WCC) from the Cromwell Property Group for an undisclosed sum.
WCC is a 10-storey high office property with a total area of around 8,700 m2. It is located in the centre of the Polish capital, next to the Central Railway Station.
'WCC perfectly complements the portfolio of our real estate fund for institutional clients, focusing on office and retail buildings. We are pleased about another successful acquisition in the Warsaw city centre,' said Matthias Marhold, managing director of Raiffeisen Immobilien KAG.
Knight Frank advised Raiffeisen on the acquisition.
'We are pleased to have had the opportunity to advise Raiffeisen Immobilien KAG during the acquisition of the WCC in Warsaw. It is a friendly office property with an unbeatable location. The acquisition was a great step to diversify the real estate portfolio with an attractive downtown office building,' said Krzysztof Cipiur, associate director, capital markets, Knight Frank.
Bird & Bird advised Raiffeisen on legal matters, while TPA Poland advised on tax.
Dentons advised Cromwell on the sale.
