A joint venture managed by Czech real estate fund Investika and Bud Holdings has acquired the Tensor Office Park in Gdynia, northern Poland.
The vendor was Greenstone Asset Management, acting on behalf of EuroEast. Financial details were not disclosed.
The Tensor Office Park is located in the Gdynia Redlowo neighbourhood of the Baltic Sea coast city. It comprises three modern buildings X, Y and Z, with a combined area of approximately 20,075 m2.
In addition to offices, the complex also features an internal public space serving as a green breakout zone. The Tensor Office Park is now 100% let.
Václav Kovár, portfolio manager of the Investika real estate fund said: 'The Polish real estate market offers a wide range of interesting investment opportunities and Tensor is indeed one of them. It matches our investment criteria being a superb, fully occupied A-class office building in a great location, with unique WAULT and imaginative architecture.
'We strongly believe that Tensor, as our fifth Polish property, is the right asset for our fund. Our portfolio consists of already more than 30 commercial buildings and projects in four different European countries. This latest acquisition shall further improve geographical asset diversification.'
Cushman & Wakefield’s team led by Marcin Kocerba assisted the vendor.
'This transaction is an ideal evidence of the attractiveness and strength of the Polish office market and, above all, a confirmation that through strategic asset selection and implementation of a well thought business plan, above average profits can be achieved even on Core assets,' said Kocerba, partner, capital markets, Cushman & Wakefield.
