Avison Young has advised M7 Real Estate in the disposal of the Mokotow Plaza office building in Warsaw. The buyer is Vienna-based investor FLE GmbH, entering Warsaw office market with this purchase.
Mokotow Plaza is a 5-floor office building that underwent refurbishment in 2014. It is located in an established office district of Warsaw, Mokotow Business District, at 6 Postępu Street. Its total GLA is 15,500, leased on long-term agreements to such tenants as EnelMed, SDI Media, Securitas, BDO or Rockwool.
“Mokotow Business District is undoubtedly Warsaw’s most developed business hub outside the city centre. The area has undergone substantial urban transformations for the last few years. The redevelopment of Marynarska Street or extension of Postępu and Woronicza streets as well as several offices, residential and hotel projects were delivered. Attractive rental levels in comparison to the city centre are perfect for companies targeting cost‑efficient solutions within a renewed office environment. We are expecting more transactions of comparable assets in the area in the near future,” comments Bartłomiej Krzyżak, Senior Director, Investment at Avison Young in Poland.
“We are very happy about our latest acquisition in Poland,” adds Alexander Klafsky, Managing Partner of FLE. “Mokotow Plaza guarantees a strong cash flow that is secured for more than six years and a very high upside potential. After being present already in several regional cities in Poland, we are glad to have finally entered the Warsaw market with an office investment and are eager to increase our portfolio here. Our appetite for Polish real estate remains strong as well in 2022.”
Avison Young’s investment team has represented the seller throughout the transaction. Allen & Overy provided legal advisory to M7 Real Estate. DLA Piper and TPA supported FLE with legal and tax advisory.
