CBRE Global Investors sells office portfolio in Warsaw – EuropaProperty

CBRE Global Investors, on behalf of the Property Fund Central Eastern Europe (PFCEE), has sold two offices in Warsaw, Poland.

The asset details are:

Trinity Office Park II, is a 26,127 sqm office located in the Mokotow district of Warsaw. It comprises nine floors and was built in 2007.

Prosta Office Centre, is a 21,313 sqm office situated in the centre of Warsaw. It was built in 2006 and comprises 11 floors.

Robert Snincak, Fund Manager, CBRE Global Investors, said: “We have completed the business plan for both of these assets and the timing is right for us to sell. Completion of this divestment was a key activity in the business plan for 2016/2017 as the fund reached its scheduled redemption period.”

John Mulqueen, Head of Transactions EMEA, CBRE Global Investors, added: ”We have been actively recycling capital in CEE and it is one of the most active regions for our business. Our team completed over €1 billion of transactions during 2016 and this latest disposal was achieved in line with our business plan. We have a significant amount of capital to invest in the region on behalf of our clients during 2017.”

CBRE Global Investors was advised by Clifford Chance and Cushman & Wakefield.