Rockspring Property Investment Managers has announced the acquisition of the Atrium International Business Center in Warsaw, a major office building situated in a prime location within Warsaw's CBD. The acquisition was on behalf of a separate account client.
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The Atrium International Business Center comprises 12,000 m² of office space.
The Atrium International Business Center comprises 12,000 m² of office space, and benefits from having a diverse base of high quality tenants including Pramerica, Reuters, Dago and BZ WBK, delivering a strong income stream and covenant.
This latest acquisition is ideally situated on the corner of Alega Jana Pawla II and Grzybowska Street in a highly visible location within Warsaw's CBD. It provides exposure to one of Europe's most resilient and prosperous office markets, characterized by low vacancy, limited office stock, and relatively strong underlying national economic fundamentals.
This transaction follows a number of successful purchases in key European cities in recent months, including a retail warehouse in Dortmund, Germany, acquired on behalf of the Rockspring German Retail Box Fund; a logistics warehouse in Stockholm bought for a separate account client; and the Olympia Shopping Centre in Brno, Czech Republic, which was acquired in a joint venture.
Kevin Muscat, European Director of Rockspring, commented: "The acquisition provides our client with excellent exposure to Warsaw's competitive office market, and is in line with our strategy of sourcing good quality, well-located and well-let assets in major European cities.
"The purchase of the Atrium International Business Center further demonstrates Rockspring's expertise in identifying assets that promise to deliver significant capital and income growth within core European Markets."
Jones Lang LaSalle acted for Rockspring in the acquisition, whilst CBRE advised the vendor, a fund managed by M3 Capital Partners.
Source: FTI Consulting
This latest acquisition is ideally situated on the corner of Alega Jana Pawla II and Grzybowska Street in a highly visible location within Warsaw's CBD. It provides exposure to one of Europe's most resilient and prosperous office markets, characterized by low vacancy, limited office stock, and relatively strong underlying national economic fundamentals.
This transaction follows a number of successful purchases in key European cities in recent months, including a retail warehouse in Dortmund, Germany, acquired on behalf of the Rockspring German Retail Box Fund; a logistics warehouse in Stockholm bought for a separate account client; and the Olympia Shopping Centre in Brno, Czech Republic, which was acquired in a joint venture.
Kevin Muscat, European Director of Rockspring, commented: "The acquisition provides our client with excellent exposure to Warsaw's competitive office market, and is in line with our strategy of sourcing good quality, well-located and well-let assets in major European cities.
"The purchase of the Atrium International Business Center further demonstrates Rockspring's expertise in identifying assets that promise to deliver significant capital and income growth within core European Markets."
Jones Lang LaSalle acted for Rockspring in the acquisition, whilst CBRE advised the vendor, a fund managed by M3 Capital Partners.
Source: FTI Consulting
