CA Immo has successfully completed the sale of the Bitwy Warszawskiej office building in Warsaw. The buyer is Polski Związek Pilki Nożnej (Polish Footbal Association).
The office building, which is over 20 years old, has a gross lettable area of around 20,000 sqm. The sale is in line with CA Immo's long-term investment strategy, which has a clear focus on large, high-quality class A office properties in prime city centre locations. As part of this strategy, CA Immo sells properties that do not correspond to its core business in terms of asset class, location, building quality, age or value creation potential, thereby continuously optimising the quality and sustainability of the property portfolio.
Keegan Viscius, CEO of CA Immo: "The successful sale of Bitwy Warszawskiej is a further step in the implementation of our strategic capital rotation programme. The proceeds from this sale will be used, among other things, to reinvest in our organic development pipeline at a higher yield, to cover the company's ongoing liquidity requirements and to make selective external investments should opportunities arise."
CBRE and Greenberg Traurig, LLP advised on the sale.
