CA Immo has successfully completed the sale of the office building Saski Point in Warsaw. The sale was closed at a premium to the last reported book value.
The 30-year-old centrally located multi-tenant building has a gross rental area of approximately 8,300 sqm. The sale is in line with CA Immo's long-term investment strategy, pursuing a clear focus on large, high-quality Class A office properties in prime inner-city locations. As part of this strategy, CA Immo is selling properties that do not correspond to the core business in terms of asset class, location, building quality, age, or value creation potential, continuously optimising the quality and sustainability of the property portfolio.
Keegan Viscius, CEO of CA Immo said: “The successful sale of Saski Point is a further step in the implementation of our strategic capital rotation programme. Proceeds from this sale will be used, amongst other things, to reinvest at a higher rate of return in our organic development pipeline, manage ongoing corporate liquidity requirements, and select external investment should the right opportunity arise.”
CBRE and Greenberg Traurig, LLP advised CA Immo on the sale.
