CPI Property Group has sold the Concept Tower office building in Warsaw to Wood & Company Real Estate Fund. The price has not been discolsed.
Belonging to the group's portfolio since 2020, the 15-storey building is located in close proximity to Wola, in the vicinity of the second metro line facilitates communication with other districts. An additional advantage is the rich retail and catering offer in the nearby area. Built in 2012, the office building has a LEED certificate at the Gold level. Concept Tower is currently fully leased by 25 institutions and businesses.
"CPI Property Group has recently significantly increased its assets in the Polish office market by acquiring a majority stake in Immofinanz. Now is the moment to review and optimise our assets against our development strategy. Concept Tower is an example of a medium-sized office building with high investment potential," comments Barbara Topolska, Country Manager of CPI Property Group Poland.
CPI Property Group's Warsaw portfolio comprises 23 office buildings (including Warsaw Spire and Warsaw Financial Center) with a total area of more than 550,000 sqm and a value in excess of €1.7 billion.
