Austrian real estate group United Benefits Holding has expanded to Poland by acquiring its first real estate project in Wroclaw, Poland, PropertyEU has learned.
The off-market deal was made with Blackstone as manager of the portfolio/fund from which United Benefits Holding bought the property.
Built in 2007, the Silver Forum office building has around 16,000 m2 of usable space on seven above-ground floors, with a garage that offers 165 parking spaces plus 133 more on the surrounding site.
It will be fully repositioned into a modern office complex with a focus on ESG standards and mobility, improving the heating technology and aiming for LEED and BREEAM In-Use certification.
United Benefits plans to redesign the facade and restructure the interior to allow for more flexibility and multiple uses.
Michael Klement, CEO of United Benefits Holding, said: ‘We are delighted to have acquired an attractive commercial and office property in Wroclaw with the Silver Forum. Wroclaw is the third largest city in Poland. The country with the lowest recession rate in the EU – this is another factor that persuaded us to enter this market over the long term. We want to take the overall quality of experience to a new level and reduce ongoing operating costs for tenants in the long term.'
He added: 'We believe that the future lies in redevelopment, redensification and repositioning. We prevent properties like these from becoming stranded assets by redeveloping and repositioning them, and by applying our special ‘Manage to ESG’ expertise in existing buildings. The Group’s many years of experience enable us to take effective remedial action in complex real estate projects and develop new concepts.’
Two subsidiaries of United Benefits Holding are involved in the project as developer (Invester) and asset manager (Ekazent).
The expansion and conversion plans provide for a variety of public areas and healthy, sustainable restaurants.
Cushman & Wakefield Poland was appointed the leasing agent following the acquisition.
