Hungarian asset manager Futureal Investment Partners has made its second acquisition – the Wratislavia Towers mixed-use development in Wrocław city centre. The value of the transaction remains undisclosed.
Wratislavia Tower, which is located near major thoroughfare ul. Kazimierza Wielkiego and only 300m from the Rynek (the city’s main square), is a glazed 11-storey tower with more than 12,000 sqm of office, retail and service space, including a cinema, a fitness centre and 140 underground parking spaces.
It has changed hands through the acquisition by Futureal Investment Partners of its owner, Cinema Towers, which itself is a vehicle of Luxembourg-registered Cinema Holdings. This is owned by Péter Futó, the president of the Futureal group.
The transaction is the second by Futureal Investment Partners, which was launched last week with the acquisition of the Manhattan shopping centre in Gdańsk. The company is planning to redevelop Wratislava Tower into a retail, entertainment and office building with a focus on IT tenants.
"Wratislavia Tower is a fantastic redevelopment opportunity for us, given the high demand for office space in the centre of Wroclaw. We would like to reposition the asset over the next 24 months from a technical and tenant-mix perspective", commented Karol Pilniewicz, the head of Futureal Investment Partners
Futureal Investment Partners was advised by DWS, Crido and CMT for this transaction.
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