Union Investment Real Estate has acquired the 25,000 m2 Senator office building in Warsaw.
Union Investment Real Estate has acquired the 25,000 m2 Senator office building in Warsaw.
The German fund manager purchased the recently completed building in the north of the city centre from developer Ghelamco Poland for €120 mln.
This is the first office investment for Union Investment's open-ended real estate fund UniImmo: Europa in Poland. 'This investment boosts the geographical diversification of the fund’s portfolio and further reduces the average age of its holdings,' said Reinhard Kutscher, CEO of Union Investment Real Estate.
The multi-tenant building boasts BREEAM certification and has an occupancy level of 80% across its six floors at the time of purchase. Tenants include companies from the oil, financial and media sectors.
The seller is providing a five-year letting guarantee for the vacant space. The property has 322 car parking spaces.
