Ethos, a Class A office building located at the heart of Warsaw, has been sold by Kulczyk Silverstein Properties to a Credit Suisse Asset Management real estate fund. Avison Young and CBRE jointly represented the seller throughout the sales process.
This newly redeveloped building, awarded with BREEAM “Excellent” certification, offers ca. 17,700 sqm of office and retail space altogether. Ethos is located in the prestigious and sought-after office area, at Plac Trzech Krzyży, and is superbly visible on the historical Royal Route. Retail high street space is leased by luxury brands and will also accommodate premier Italian fashion brands. Ethos also hosts Poland's first Michelin Star restaurant.
Przemysław Łachmaniuk, Director – Investment Properties at CBRE Poland: „The Sale of Ethos demonstrates once again that Warsaw has established itself among the truly core markets of Europe. Unlike most core markets however, it is the rental growth potential and development of this booming city which sets it apart from most Western European Capitals. It is one of the only core markets in Europe where investors are able to secure prime product leased to blue chip tenants at attractive yields with significant upside potential.”
Kulczyk Silverstein Properties was advised by Avison Young, CBRE and Dentons. Cushman&Wakefield, Greenberg Traurig, CMT and PwC provided advisory services on the buy side.
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