RREEF Investment has acquired the Topaz and Nefryt office properties in Warsaw on behalf of its open-ended grundbesitz europa fund for EUR 80 mln. The vendor is the Polish project development company Globe Trade Centre.
RREEF Investment has acquired the Topaz and Nefryt office properties in Warsaw on behalf of its open-ended grundbesitz europa fund for EUR 80 mln. The vendor is the Polish project development company Globe Trade Centre.
Topaz was completed in 2006 and Nefryt in 2008. Both seven-storey properties, featuring a total of around 27,000 m2 of rental space, are fully-let to 16 companies.
The buildings are located in the Mokotów district - south of the city centre - in close vicinity to the Galeria Mokotów, one of the largest shopping centres in Warsaw.
'The superior building quality and attractive location of the two office buildings assure an ideal letting situation, which is especially attractive for international corporations', said Georg Allendorf, head of Germany, Austria and Switzerland for RREEF.
'In 2002, grundbesitz global was the first German open-ended real estate fund to invest in Poland. We have had excellent experiences with our Polish investments for both of RREEF's open-ended funds for German investors, grundbesitz europa and grundbesitz global', according to Allendorf.
Grundbesitz europa currently holds 36 properties with a total value of EUR 2.8 bn.