Germany’s Deka Immobilien has acquired, a 37,000m² office and retail building in Warsaw for approximately €148m.
The International Business Center, in Warsaw’s city centre, has been bought for the Deka-ImmobilienEurope open-ended property fund. Following the acquisition, the share of the fund attributable to Poland has increased from 4.3% to 5.6%. The fund now has a total of eight Polish properties in its portfolio with a combined fair value of around €590m.
The vendor is an institutional European property fund of Munich-based GLL Real Estate Partners.
The asset was built in 2002 and extended in 2007 and its floorspace includes 2,500m² of retail space. The building is fully let to 19 tenants, with PricewaterhouseCoopers the main occupier.
