Valad Europe has acquired Wisniowy Business Park in Warsaw in partnership with funds managed by Oaktree Capital Management.
The asset is located next to two of the largest business districts in Warsaw, Upper South (Mokotow) and South West (Wlochy), and close to Okecie Airport. It comprises four buildings totalling 40,214 m2 of leasable area and 1,371 parking spaces. Current tenants of the Park include RBC, Johnson & Johnson, IBM, Carlsberg and Regus, among others.
Valad Europe aims to reposition the asset by adding value and investing extra capex, including the possibility of developing an additional building with a gross lettable area of 11,000 m2.
Commenting on the transaction, Christian Bearman, head of business development and private equity for Valad Europe, said he 'warmly welcomed' the new relationship with Oaktree. 'It marks our 10th such partnership over recent years, with €1.5 bn invested across Europe, and demonstrates our ability to deliver attractive deals that match investor appetite. The combination of Wisniowy Business Park’s location and the potential to add significant value through our local asset management platform, make this an attractive opportunity for the partnership.'
Valad Europe is part of Cromwell Property Group, a diversified real estate investment manager based in Australia. Valad Europe manages €4.7 bn of real estate assets and investment capacity across its 24 funds and mandates in Europe. With a team of 28 in Central Europe, Valad manages approximately €870 mln of assets over 985,000 m 2of space across Poland, Czech Republic, Hungary and Romania.
