Generali Real Estate, on behalf of Generali Europe Investments Holding (GEIH) Fund, has acquired Piękna 2.0, a landmark office building in Warsaw, from an investment fund advised by Griffin Real Estate.
This prestigious property further strengthens Generali Real Estate’s managed portfolio in the Polish capital, which includes the KroLEWska building, Senatorska 18 and Plac Małachowskiego amongst others.
Piękna 2.0 is an eight-storey building with approximately 15,800 sqm of high quality office spaces, complemented by high street retail units at ground floor. Built in the early 2000’s, it recently underwent a major refurbishment and currently has the Polish Financial Supervision Authority (KNF) as the anchor tenant.
It is located in the very heart of Warsaw on Piękna Street, close to Constitution Square, the Polish Parliament, many embassies and government buildings, and it is well-served by public transport.
This transaction is in line with Generali Real Estate’s strategy of investing in the major European cities, with a focus on prime office, high street retail and retail assets. It also illustrates once again the company’s strong focus on Central and Eastern Europe, where Generali Real Estate currently manages a portfolio worth around €1 billion.
JLL acted as the commercial advisor of Generali Real Estate, who was also advised by White&Case, PWC, Baker McKenzie and Gleeds.