October 08, 2014

A new office building in Adgar’s portfolio – Cirrus renamed Adgar Wave

A new office building in Adgar’s portfolio – Cirrus renamed Adgar Wave

Adgar has signed an agreement for the acquisition of the Cirrus office building situated in the Mokotów Business District, which the company has renamed Adgar Wave. This is the Adgar Group’s sixth investment in Warsaw.

The acquisition includes a 2,925 sqm plot and an office building offering a total of 14,007 sqm of office and retail space and 283 parking places in an underground car park. The seller is Castle Carbery Properties, on behalf of Mazovia Holdings II, which was represented in the transaction by Colliers International.

“After the purchase of Adgar Park West last year, which is now being re-imagined and undergoing a complete transformation, we were interested in acquiring another office investment in an attractive Warsaw location,” said Eyal Litwin, CEO of Adgar in Poland.

He added: “We planned to purchase an existing project and increase its market value, making use of Adgar’s experience, extensive knowledge of the office market and expertise in the latest technologies. We decided to purchase the Cirrus building, which we have renamed Adgar Wave, because we see it as an excellent investment. The building is 100 percent leased by renowned international companies and is situated in the capital’s most important business district.”

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