Adventum International, a Malta based boutique investment fund manager, has acquired the 10,000 sqm office building Renaissance Plaza in the most dynamically growing area of the Polish capital from REInvest Asset Management, a Luxembourg based asset and fund manager. The 7-storey, B+ class office building is fully leased to Orange Polska S.A.
The transaction represents another milestone for Adventum: the acquisition is the second investment in the CEE region under its Adventum QUARTUM real estate fund within four months.
Dominik Ewerz, heading the transaction with REInvest Asset Management, commented “We are pleased to have found a partner in Adventum International on the transaction. With the exit from Renaissance Plaza our focus will now shift to new core investments in Warsaw”.
Andras Marton, director at Adventum International commented: “As a Mid-Cap fund manager we continue leveraging our regional experience in Poland, Hungary, Czechia and Romania to invest core+ and value-add opportunities. Under the Adventum QUARTUM fund we intend to utilise a further €150 million in the forthcoming months for office and retail properties with special focus on Poland. We are glad to have undertaken our second such transaction with REInvest Asset Management.”
The Renaissance Plaza is located in the Wola district of Warsaw, the largest city in Central and Eastern Europe. Being close to the Rondo Daszynskiego junction – the most dynamically growing area of the city – the B+ class building offers easy access to local amenities and thanks to its excellent location it simply reachable by car or public transport. Renaissance Plaza was redeveloped in 1998, with the last quite significant refurbishment taking place in 2016.
In the transaction, MFC Real Estate and CMS Cameron McKenna advised the seller; act BSWW, Avison Young and Deloitte the Purchaser.