Tristan's EPISO3 fund acquires office park in prime Kraków location
Cushman & Wakefield has announced that its Polish Capital Markets team has brokered an agreement for a joint venture between European Property Investors Special Opportunities 3 LP (EPISO 3), an opportunity fund advised by pan-European real estate investment manager Tristan Capital Partners, and Avestus Real Estate (Avestus) to acquire the Enterprise Park office complex in Krakow.
Enterprise Park is a leading Class A office development that will comprise over 50,000 sqm gross leasable area upon final completion. The three existing buildings of 29,462 sqm are long let to blue-chip tenants such as Cisco and Delphi. A further building of 5,867 sqm is under construction and is fully pre-let. Enterprise Park is located in a prime part of Kraków at 13 Powstańców Wielkopolskich Avenue.
James Chapman, Partner and head of CE Capital Markets, Cushman & Wakefield, said, “This is one of the largest office transactions in 2015 and is further evidence of the fundamental growth in institutional investment activity in Polish regional cities. The strong underlying occupational demand and increased liquidity have turned cities such as Krakow into highly desirable investment markets.”