IVG has acquired the historic Royal Trakt Offices building with a total of 3,500 m² lettable space in Warsaw for an existing specialized real-estate fund of a German insurance company. The five-story core property is situated in a very prominent location at the corner of Al. Ujazdowskie / ul. Wilcza in the diplomatic district of the Polish capital.
Large parts of the building were originally constructed in the mid-1870s and it was extensively modernized in 2005 keeping the original facade. An additional section that includes 12 underground parking spaces was added to the building. At present, one of the main tenants is the Polish Ministry of Foreign Affairs. The parties involved have agreed not to disclose the purchase price.
"Acquisition of the Royal Trakt Offices building proves that Warsaw’s real estate market offers a variety of investment opportunities which match the different investment criteria of all kinds of investors. IVG constantly implements its strategy to invest in the best, modern office buildings located in the most prestigious and best known locations in Warsaw. Furthermore, IVG aims to maintain its active role on the Warsaw investment market over the coming months", said Maciej Zajdel, Managing Director of IVG Poland.
International real estate advisor Savills acted as commercial advisor to IVG in this transaction, legal advice was provided by Dentons and tax advice was provided by both Dentons and Pöllath + Partners. Kancelaria Brochocki acted as the Seller’s agent in the transaction. CDZ and NOERR Legal Advisors advised the Seller's side.