January 26, 2015

BPT Optima sells Obrzeżna Building in Warsaw and Baltic Business Center in Gdynia

BPT Optima sells Obrzeżna Building in Warsaw and Baltic Business Center in Gdynia

BPT Optima has sold two buildings from its office real estate portfolio in Poland. Both Obrzeżna Building in Warsaw and the Baltic Business Center in Gdynia were purchased by Octava FIZAN – an investment fund affiliated with Octava SA, a property company listed on the Warsaw Stock Exchange. Experts from JLL and Clifford Chance advised the vendor on the transaction and Magnusson advised the buyer.

Obrzeżna Building, located in the Mokotów district in Warsaw, is an office scheme that offers 9,600 sqm of office space. The Property is solely leased to Orange Polska SA., part of Orange Group – one of the world’s leading telecommunication operators. Baltic Business Center is located in the center of Gdynia and provides 11,300 sqm of office space. Baltic Business Center is home to Thomson Reuters and Bank Pekao SA.

With the sale of Obrzeżna and Baltic Business Center, BPT Optima has completed its planned disposals of all office investments in Poland and now remains the owner of Young City - a large waterfront development project in the center of Gdańsk as well as income producing property portfolio in the Baltic countries.

Antanas Anskaitis, Fund Manager, BPT Optima, commented: “This successful exit is primarily a result of the asset management programme for both Baltic Business Center and Obrzezna Building we have completed over the last three years. This covered a comprehensive refurbishment, prolongation of all leases, securing full satisfaction of the anchor tenants and through all this delivering an investment grade product to the future long-term owner."

Rafał Kosoń, Associate Director, Capital Markets, JLL, added: “We are glad to have the opportunity to work with BPT Optima. This transaction highlights the increasing interest for well let and solid income-producing assets located not only in Warsaw, but also in regional cities.”

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