Invesco Real Estate (IRE) has announced the sale of Zaulek Piekna office building on behalf of one of its separate account clients in Germany to GLL Real Estate Partners GmbH.
Zaulek Piekna is an 8,860 sqm Class A office building in Warsaw’s CBD and was developed in 2005 through a collaboration between Atelier 2 Architekci and Ghelamco Poland. The property is fully leased.
‘The successful sale of Zaulek Piekna confirms the continued demand among institutional investors for core assets in Poland. This demand, combined with the active management of our client’s investment mandate in order to achieve their investment objectives, meant the timing was optimal for us to sell this outstanding asset. However, we continue to have a strong interest in the Polish market on behalf of our existing investment mandates’, commented Tomas Picha, Director - CEE transactions for IRE.
This year marks the second anniversary of Invesco Real Estate’s presence in Warsaw, its second on-the-ground team in Central and Eastern Europe (CEE) after opening its Prague office in 2005