Invesco Real Estate sold the Warsaw Crown Square office building located in the vicinity of the Rondo Daszyńskiego metro station. The buyer of the building is M&A Capital. Crown Square offers over 16,000 sqm modern office space and 236 parking spaces.
Crown Square is a fully leased office building located in Wola district. In addition to excellent transport links (next to the building there is a metro station, five tram stops and seven bus lines) the building is distinguished by very high quality: Crown Square was assessed as “Excellent” in the BREEAM classification system.
“The Warsaw office market enjoys unflagging interest of investors. Our portfolio includes high-quality projects, located in strategic locations and offering added value to tenants thanks to the proactive management, hence the great interest from the buyers,” says Tomas Picha, Senior Director for Transactions in CEE at Invesco Real Estate.
“We are happy with the sale of our property which we acquired in year 2010/2011 and from the asset management perspective we have executed our targeted business plan with almost 100 percent retentions of all our blue-chip tenants. With further increased acquisition activity in Polish market, we recognized it is good time to offload it and reinvested the capital into other interesting opportunities which are in advanced stage. Certainly, INVESCO will remain active in Poland and other markets of CE,” emphasizes Tomas Picha.
“We are very happy to have this opportunity to purchase a high-quality asset with blue chip anchor tenants in a superb location such as the Crown Square. The Crown Square which fits to our long-term strategy, is our second asset in the WOLA district after we have completed the acquisition of 50 percent of the Karolkowa Business Park in December 2017,” says Ehud Gat, the founder of M&A Capital.