Rotaria acquires Alma office building in Warsaw (PL)

Maciej Jaglarz, representing Polish private equity company Rotaria S.A., has signed an agreement for the acquisition of the Alma Office Building in Warsaw from Invesco Real Estate.

Budynek Alma

Alma Office Building is located in the most prominent part of the Mokotów district.

Alma Office Building is a fully leased office property with approx. 6,000 m² of lettable area, distributed in two phases. The main building was developed in the 1960s and was substantially refurbished in 1998. The adjoining two-story section was erected in 2001.

Alma Office Building is located in the most prominent part of the Mokotów district, on 13 Marynarska street, right opposite Galeria Mokotów (one of the largest shopping malls in Warsaw).

It is the most popular non-central office location in the capital city. The property benefits from excellent visibility.

Key tenants include Renault, RCI Bank, Pol-Assistance and Call Center Poland.

Invesco Real Estate is the asset manager of the property, acting on behalf of the owner, PRP Sp. z o.o. Savills acted for the seller of the property. Cushman & Wakefield represented Maciej Jaglarz.

Tomas Picha, Head of Transactions for CEE at Invesco Real Estate, comments: "The sale of the Alma building was part of a long-term strategy plan that we were forced to revisit after 2009.

"We managed to hold the building 100% let since its acquisition in 2002 and I am pleased that eventually there are Polish private equity investors that are liquid enough to acquire commercial properties across Polish markets."

Piotr Szmilewski, Senior Surveyor from Warsaw's Capital Markets Group of Cushman & Wakefield, who represented the buyer, commented: "This acquisition provides Rotaria with an excellent opportunity to expand on the Warsaw market, offering a stable income stream."

Source: Cushman & Wakefield

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