German open-ended fund manager Union Investment has acquired the Horizon Plaza office scheme in the Mokotow district of Warsaw, according to reliable sources. The transaction is said to reflect a yield of 7%. Union Investment declined to comment.
German open-ended fund manager Union Investment has acquired the Horizon Plaza office scheme in the Mokotow district of Warsaw, according to reliable sources. The transaction is said to reflect a yield of 7%. Union Investment declined to comment.
Completed last year, Horizon Plaza is an office centre offering some 43,000 m² of gross floor space as well as 540 parking spaces in two underground levels.
The acquisition, which is expected to be completed at the end of March or beginning of April, is the second investment by Union this week after the purchase of the Lipinski office and retail complex in Warsaw's central business district from construction company Reinhold Polska.
