Benson Elliot has invested €100m to acquire four office buildings in Poland for its fourth pan-European real estate fund.
The UK-based private equity real estate fund manager said the properties were acquired in separate off-market transactions with four different vendors.
The buildings acquired are the 8,290sqm Opera office building in Gdańsk, the 20,400sqm Vinci building in Kraków, The 7,910sqm Forum 76 in Łódź and the Okraglak and Kwadraciak in Poznań totalling 7,900sqm.
This acquisition follows the Benson Elliot Real Estate Partners IV’s acquisition of the 350-room Warsaw Sheraton Hotel in October 2015.
Joseph DeLeo, Benson Elliot senior partner, said: “Poland remains one of Europe’s strongest economies, with GDP growth averaging more than 3% over the past decade.
“With 75% of trade geared into the EU, the country is a principal beneficiary of Europe’s broader recovery, and continues to be a favoured destination for global outsourcing and shared services.
“With these four acquisitions we feel we’ve established a solid position for Benson Elliot in strong regional markets, with prime properties offering real value growth potential.”
Financing was provided by Bank Zachodni WBK and mBank Hipoteczny. Sharow Capital has been appointed as asset manager by Benson Elliot.