Ghelamco sells Warsaw office building to Czech investment fund

Wołoska 24, an office building developed by Ghelamco has a new owner, the Czech investment fund, ZFP realitní Fond, managed by ZFP Investments, which is a subsidiary of Slovakia’s IAD Investments. The value of the transaction amounted to over €60 million.

Wołoska 24 is an A-class office building located in Warsaw within the Mokotów district. It was developed by Ghelamco in the year 2016. Its new owner is the Czech investment fund, ZFP Investments, which belongs to the oldest Slovak asset management company IAD Investments. It has been operating in Central European countries for 30 years. ZFP Investments owns properties in Slovakia, the Czech Republic, Hungary and, since December 2017, also in Poland. As part of the sales, the owner’s business affairs were represented by CBRE and Allen&Overy. MiddleCap, Squire Patton Boggs, ARCADIS and TPA were among the advisors to the buyer.

The change of ownership has been achieved through the acquisition of shares in a special purpose vehicle.

“At ZFP Investments, we are pleased that despite these uneasy times we were able to finalize this transaction with world-class real estate developer Ghelamco. Wołoska 24 perfectly suits our diversified portfolio. We believe that this high-quality building with its highly reputable tenants will bring a prosperous future for our clients”, says Peter Lukáč, Board Member at ZFP Investments.

“Wołoska 24 is a well-located office building with prestigious tenants. I would like to thank all the parties that were involved in the transaction. I am sure that the building will be a great addition to the portfolio of the fund managed by ZFP Investments”, says Jeroen van der Toolen, Managing Director CEE of Ghelamco.

Wołoska 24 is an office building located in Warsaw within the Mokotow district. The office building is leased almost 100 percent and among its tenants are such brands as NEST BANK, ARVAL Group, Hyundai and Teleperformance.

Wołoska 24 has a total of 23,500 sqm of office space. The building offers 518 parking spaces in an underground car park and it provides an additional above-ground car park. There is a separate car park, changing rooms and showers devoted to cyclists. Access to the building is ensured through two independent entrances from Woloska and Magazynowa streets as well as through the close vicinity of bus and tram stops.

The building has an Excellent-rated BREEAM certificate.