FLE SICAV FIS, managed by FLE GmbH, has acquired its fifth office property in Poland – the Kopernik Office Buildings in Warsaw – from DWS, one of the largest asset management groups on the market. The deal, saw Knight Frank advising the buyer and Colliers representing the seller. Previous acquisitions concluded by FLE include industrial and retail facilities across Poland.
The acquired property, located in one of Warsaw’s main office concentration areas on Aleje Jerozolimskie, comprises 5 office buildings completed between 2001 and 2007, with 25 000 sqm GLA and 760 parking spaces. The Assets hold BREEAM certification at Very Good and Excellent levels. Warsaw’s main railway station (Warszawa Centralna) is 20 minutes away by car, and Chopin International Airport lies within 15 minutes drive.
Dr. Alexander Klafsky, Managing Partner at FLE GmbH said: “Our latest acquisition proves that we are able to continuously purchase suitable assets that yield a very strong cash flow, even if the economic environment seems challenging. Our strategy enables us to balance short-term hurdles with long-term prospects and we still see a lot of potential for Poland.”
Marek Jakubiak, Head of CEE at DWS said: Kopernik Office Buildings have been with DWS for over 15 years. Over the years, the property has proven to be very resistant to market and economic cycle changes, with a stable level of occupancy and fluent leasing transitions. This successful disposal is a testament to the attractiveness of the Warsaw office market and we are pleased to have delivered value to our investors in this region.
Krzysztof Cipiur, Managing Partner and Head of Capital Markets at Knight Frank commented: “We believe this acquisition will strongly complement FLE’s portfolio of properties in Poland. The Koperniki complex exhibits very good quality, proved by its excellent leasing history and tenant retention record. We would also like to thank FLE for the trust shown, in what was our fifth joint transaction”.
Piotr Mirowski, Senior Partner and Board Member at Colliers said: “This transaction demonstrates that the Warsaw market offers institutional-quality office buildings from the secondary market, which enjoy long-standing esteem among tenants and generate stable returns for investors. We congratulate DWS on another office transaction and wish FLE continued success. I am convinced that with the new owner, the Kopernik Office Buildings complex will maintain the status of a trusted business address and will continue to enjoy the loyalty of tenants.”
Allen & Overy supported the buyer with legal services, TPA Poland advised on tax issues, and technical consultancy services were provided by Avison Young.