SEB Asset Management has acquired a fully let office property in Warsaw from Investec GLL Global Special Opportunities Real Estate Fund, which is managed by GLL Real Estate Partners. The asset was acquired for EUR 38 mln and is being contributed to the portfolio of SEB Europe REI, a German real estate special fund aimed at institutional investors and with a conservative risk-return profile.
SEB Asset Management has acquired a fully let office property in Warsaw from Investec GLL Global Special Opportunities Real Estate Fund, which is managed by GLL Real Estate Partners. The asset was acquired for EUR 38 mln and is being contributed to the portfolio of SEB Europe REI, a German real estate special fund aimed at institutional investors and with a conservative risk-return profile.
Completed in 2008, the Grade A property is in the centre of the Mokotów district, a popular office location in the Polish capital. The 11-storey office building has total rental space of 13,270 m2 and 185 parking spaces. Main tenants include Generali, AC Nielsen and ILF Consulting Engineers, which occupy the scheme with an average remaining lease term of 5.4 years.
'The economic conditions on the Polish market are promising and rental prices are expected to rise,' the company said in a statement on Wednesday.
SEB Asset Management now holds eight properties in Poland for the various funds it manages, with a total of 119,200 m2 of space and a market value of around EUR 352 mln.
