Warburg-HIH Invest has announced two transactions in Wroclaw, Poland and Brussels, Belgium.
In the Polish city, Warburg HIH-Invest has acquired the Pegaz office scheme from developer UBM. The asset was acquired on behalf of an individual fund for an institutional investor for an undisclosed amount.
Built in 2016, the centrally-located property provides a total rental area of 20,900 m2 and 390 parking spaces. The scheme is rented for an average term of more than six years with occupiers including global insurance company XL Catlin, hydro-technology company Xylem, and contract law specialist AXIOM, who between them lease 49% of the property's total space.
'With the acquisition of Pegaz, we have confirmed our confidence in the Polish market, which, in comparison with other European regions, continues to expand, delivering above-average yield growth,' said Andreas Schultz, managing director Transactions Management International at Warburg-HIH Invest.
In Brussels, Warburg HIH-Invest has announced the sale of its stake in W.H. Arts 20 S.A., the owner of the Arts 20 office building, to Blue Colibri Capital's Partners Fund II. Financial details were kept confidential.
The 7,100 m2 office building was part of the Warburg-HIH Invest Pan-Europa Fonds Nr. 1 portfolio. 'This sale marks the next step in the scheduled closure of the fund as it reaches the end of its lifetime,' added Andreas Schütz, senior fund manager at Warburg-HIH Invest.
This is Blue Colibri Capital's first acquisition in the Brussels market. The company is a real estate investment firm based in Luxembourg with over €500 mln of assets under management. Blue Colibri Capital focuses on Value-Add / Opportunistic real estate investments in offices, retail and hotels in Germany, France, Austria and the Benelux.
This week it also bought the 8,800 m2 Centre Descartes in Luxembourg from AG Real Estate for an undisclosed amount.
