KGAL, a leading independent investment and asset manager, has bought a second office building in Warsaw. The acquisition of the Prosta Office Centre (POC) follows its 2018 purchase of the Spark office complex. Both assets were acquired for a Europe-wide special real estate AIF. The purchase price was not disclosed.
Completed in 2006, the asset comprises around 21,000m² of office and retail space over 11 upper floors and three lower floors. Tenants include companies from the IT and advertising sectors, as well as financial service providers. The POC is located at Prosta-Strasse 51 near the Daszyńskiego roundabout, so is well connected to the road network and public transport.
"Today we are securing a location that tomorrow will be part of the new Warsaw city centre," explained Andre Zucker, Managing Director Real Estate at KGAL Investment Management. "The location is highly dynamic. The Prosta Office Centre will benefit from the urban feel and density of this neighbourhood."