London & Regional Properties have bought the Rondo 1 office building in central Warsaw from Hanover Leasing for €260 million. The deal was financed by Aareal Bank AG. London & Regional was represented for this transaction by Salans, with Nöerr Stiefenhofer Lutz acting as agents for Hannover Leasing.
This is the second time that the building has been sold, after CommerzLeasing und Immobilien bought it from the developers, Hochtief Project Development. The original investment in the office complex cost €200 million.
Rondo 1, which is located on the Rondo ONZ roundabout, opened on March 7th this year, and contains 54,000 sq.m. of rentable space. It already counts amongst its tenants Ernst & Young, Caylon Bank Polska, Volkswagen Bank Polska and Baker McKenzie.