Hungarian investor Indotek acquires an office portfolio in Warsaw

Greenberg Traurig advised Indotek, a Hungarian investment manager, on the transaction involving the acquisition of an office portfolio from Immofinanz.

The newly acquired portfolio consists of four office properties located in Warsaw:

myhive Brama Zachodnia – an office building located at Aleje Jerozolimskie with a total leasable area of 24,000 sqm;

Cybernetyki Office Centre – a 6-floor office building located at ul. Cybernetyki with a total leasable area of 7,400 sqm;

Taifun Office Centre – an office building located at ul. Jutrzenki with a total leasable area of 7,000 sqm;

Bokserska Office Centre – a 6-floor office building located at ul. Cybernetyki with a total leasable area of 6,500 sqm.

The value of the transaction amounts to approx. €72.5 million.

The Greenberg Traurig team was co-led by Senior Associates: Aleksandra Kaczmarek and Paweł Jaśkiewicz, supported by Senior Associate Karolina Olko and Associates: Jakub Gajzler and Alicja Flis as well as Marta Trębacka. Partner Aleksander Janiszewski supervised the financing aspects of the transaction.

Partner Radomił Charzyński supervised all work on the transaction.

“We are delighted to have been able to advise Indotek on finalizing such a significant transaction despite the pandemic-related difficulties and the ensuing delay, and to assist the Client in entering the Polish office market,” said Radomił Charzyński, Partner in the Warsaw office real estate practice.

The Indotek Group is one of Hungary’s major investment managers with a diversified portfolio comprising more than 1.7 million sqm of buildable and leasable area. The company operates more than 30 office buildings, more than 20 shopping centres and some 100 warehouses, industrial halls and logistics parks. The Group is predominantly active in Hungary but is also seeking investment opportunities in the Central, Eastern and Southern European markets.