Friday, 3 October 2014
Adgar Group purchases Cirrus, now renamed Adgar Wave (PL)
Adgar has signed an agreement for the acquisition of the Cirrus office building situated in the Mokotów Business District, which the company has renamed Adgar Wave. This is the Adgar Group’s sixth investment in Warsaw, adding to its existing portfolio of the Adgar Plaza Complex on Postępu St., Adgar Business Centre II (ABC II) on Konstruktorska St., Adgar Park West on Jerozolimskie Ave. and BMW Inchcape on Prymasa Tysiąclecia Ave.
Adgar has announced that as of 1 October it is the owner of Adgar Wave, the office building situated on 53 Rzymowskiego St. in Warsaw. The acquisition includes a 2,925 m² plot and an office building offering a total of 14,007 m² of office and retail space and 283 parking places in an underground car park. The seller is Castle Carbery Properties, on behalf of Mazovia Holdings II sp. z o.o. which was represented in the transaction by Colliers International.
“After the purchase of Adgar Park West last year, which is now being re-imagined and undergoing a complete transformation, we were interested in acquiring another office investment in an attractive Warsaw location. We planned to purchase an existing project and increase its market value, making use of Adgar’s experience, extensive knowledge of the office market and expertise in the latest technologies. We decided to purchase the Cirrus building, which we have renamed Adgar Wave, because we see it as an excellent investment. The building is 100% leased by renowned international companies and is situated in the capital’s most important business district,” said Eyal Litwin, CEO of Adgar in Poland.