Deutsche Hypo finances Prime Corporate Center in Warsaw
Deutsche Hypothekenbank is acting as the sole lender to a real estate company, which is managed on behalf of four independent investors by Warburg-HIH Invest Real Estate GmbH, for the purchase of the Prime Corporate Center office building in Warsaw. The financing volume amounts to €40.5 million. In addition to this long-term investment financing, Deutsche Hypo is also providing a short-term bridging loan to cover the VAT element in the amount of €14.2 million.
The newly built 28-storey office complex (of which five storeys are in the basement) is located in the city’s Wola district, which is on the western border of the city centre as well as the central business district (CBD) and includes a usable area of more than 20,000 sqm. With Raiffeisen Bank Polska as the main tenant the building is fully let under a ten-year lease. Prime Corporate Center has been awarded a BREEAM VERY GOOD certificate.
“With this financing we are expanding our portfolio in Poland and adding to it a high quality property in the emerging Warsaw city district of Wola, which is increasingly growing in importance as a business district,” explained Andreas Pohl, Chairman of the Board of Managing Directors of Deutsche Hypo. “The highly sustainable and very modern Prime Corporate Center corresponds extremely well with our prime sustainability rating.”