Patrizia Immobilien AG has sold the Feniks office building in Warsaw to a South Korean investor via Warburg-HIH Invest Real Estate. The buyer was advised by Savills. Feniks is a class A, eight-storey office building located at Zelazna Street in Warsaw comprising over 10,000m² of office and retail space. The building was developed by Europlan in a joint venture with Griffin Real Estate and delivered to the market in 2012. In 2013, the property was acquired by IVG before Patrizia bought the building in 2017. Feniks office building is fully leased with BOŚ Bank as the anchor tenant. The purchase price was not disclosed.
“Investor appetite for prime offices in Warsaw remains strong. The acquisition of Feniks office building fits into the investment strategy of core investors due to its attractive location and income profile including above-average WAULT and rents at the market levels,” said Marek Paczuski, Deputy Head of Investment, Savills Poland.