The Endurance Fund announces its first acquisition in Poland: a refurbished B+ class office building on Prosta Street number 69, in the center of Warsaw only 500 m from the heart of the Central Business District. The property, which is 100% let, was acquired for €15.5 million, and offers 11,150 m² office space and 158 surface parking spaces. The buildings tenants include for example: PTK Centerel (cable TV), Group 4 Securicor, BOTM (Polish government international transport agency), and Conoco Philips.
The building was acquired by purchase of the shares of the company owning the asset. The previous owner WWG Management remains as tenant in the building.
This is the Endurance Funds seventh purchase in the Central European region, after its acquisition of three office buildings and a shopping centre in Prague, and two office buildings in Budapest at the end of 2005 and beginning of 2006.
Source: Orco
