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CA Immo purchases landmark Class-A Warsaw office

02 October 17 - RE+D Magazine
CA Immo purchases landmark Class-A Warsaw office

COMPANIES

Solum Property Solutions

Consultant - GREECE

IBI Group

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
CA Immo signed and closed a Sales and Purchase Agreement to acquire the centrally located Warsaw Spire Building B landmark Class-A office building comprising of 21,600 sqm GLA in Warsaw, Poland.

 

According to the company’s official press statement, the transaction volume of the fully rented asset amounts to around € 100 m, the annual gross rental income reaches around € 6 m. With this transaction, CA Immo fulfills one of the last strategic and budgeted targets announced for 2017.

The seller is the Developer Ghelamco Poland, who completed the building in 2015. Warsaw Spire Building B is primarily occupied by the Headquarter of Frontex – the European Border and Coast Guard Agency of the European Union.

Frontex commenced its 10 years lease in Q1 2015. With this transaction, CA Immo strengthens its presence in the core market Warsaw, where it currently holds an investment portfolio worth around € 290 m. According to plan, the acquisition will already contribute to recurring earnings (FFO) of CA Immo in the fourth quarter of 2017. Greenberg Traurig (legal), KPMG (tax) and Arcadis (technical) acted as advisors to CA Immo.

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