Commerz Real has acquired two buildings which are part of the “Lixa” office building complex in Warsaw – currently under construction on Kasprzaka Street – through its Luxembourg company CR Fund Management for a South Korean investor. The investor is Hana Financial Investment, which is domiciled in Seoul, South Korea. The seller is the project developer Yareal International. The purchase price was not disclosed.
Both office buildings are scheduled for completion by mid 2020 and will then have a leasable area of approx. 28,700m² and 410 underground car parking spaces. The 13-storey “Building A” accounts for approx. 22,400m² of leasable area, and the 6-storey “Building B” for approx. 6,365m². Ultimately the entire Lixa office complex is to encompass around 65,700m². Building A is already leased in full for ten years to the Polish subsidiary of BNP Paribas Bank, BGZ BNP Paribas Bank Poland, which will relocate its headquarters there.
Yareal International has submitted a five-year rent guarantee for Building B. Thus the current occupancy rate amounts to some 78%. The ensemble is located in the City Centre West district and will be part of a new business hub that is being developed at Warsaw’s Daszynski junction. It is also well connected to the local public transport network, and enjoys easy access to both underground and bus. There are several restaurants and a number of shopping opportunities in the immediate area, as well as the renowned performing arts theatre Teatr na Woli.
“We intend to open up for international investors to a much greater degree in the future,” said Johannes Anschott, the member of the board of Commerz Real responsible for institutional business. “Above all, we are seeing much stronger demand for professionally structured investment opportunities in Europe from the Middle East and Asia.”
