Deka Immobilien buys office property in Warsaw for €103 million (DE/PL)
Thursday 17 March 2011
Deka Immobilien GmbH has acquired the fully let North Gate office building in Warsaw for €103 million. With construction completed in 2008, the property comprises total lettable floor space of around 30,000 m².
The building was sold by two companies in the Austrian Volksbank Group, which developed North Gate via its project development company Premiumred. The main tenant is pharmaceutical company Sanofi Aventis.
In total, the property accommodates 25 tenants. North Gate boasts 24 floors and is located in the center of Poland’s capital city, on the historic thoroughfare Bonifraterska Street, with excellent local transport links. There is an underground station and tram and bus stop very near the property. The building will be included in the investment funds portfolio of the WestInvest InterSelect open-ended mutual property fund.