News Article Cromwell investment KGAL office Poland Warsaw
by Property Forum | Investment

KGAL, an independent investment and asset manager, has bought a second office building in Warsaw. The acquisition of the Prosta Office Centre (POC) from Cromwell Property Group follows the 2018 purchase of the Spark office complex. Both assets were acquired for a Europe-wide special real estate AIF.

"Today we are securing a location that tomorrow will be part of the new Warsaw city centre," explains André Zücker, Managing Director Real Estate at KGAL Investment Management GmbH. The Towarowa 22 development and other planned projects at Plac Europejski will boast modern infrastructure, cultural facilities and high-class apartments.

Completed in 2006, the Prosta Office Centre comprises around 21,000 square metres of office and retail space over 11 upper floors and three lower floors. Tenants include companies from the IT and advertising sectors, as well as financial service providers. The POC is located at Prosta-Strasse 51 near the Daszyńskiego roundabout, so is well connected to the road network and public transport.

Spark, KGAL's first Warsaw acquisition property, is a modern office building with a rentable area of 13,000 square meters and is also located in the Wola district.

DLA Piper and Colliers International advised KGAL.