Waresco Sp. z o.o., the owner of the Sienna Center office building in the Polish capital Warsaw, has been purchased by Europolis Invest, an Austrian investor.
Sienna Center is a landmark office building in downtown Warsaw developed by Waresco. It is located in the prime business district of Warsaw, in Wola, west of Al. Jana PawÂ³a II and Rondo ONZ, enclosed by Sienna, Twarda and Â¯elazna streets. It was completed in January 1998 and comprises three interconnecting office buildings arranged around a central courtyard providing the net office area of 20,350 sq m on nine floors.
The first tenants to sign up at an early stage were Allen & Overy and Nokia followed by PTK Centertel, Cigna, Lockheed Martin International, Oracle, Servier, The Boston Consulting Group and Cushman & Wakefield Healey & Baker. The building was designed by Jerzy CzyÂ¿ and Leszek Klajnert from Projekt - a Polish-Belgian architectural company.
Waresco Sp. z o. o. is a joint venture company whose shareholders are two experienced Belgian companies, namely Buelens Real Estate and Compagnie Immobiliere de Belgique - each having 50% interest. The project required financing in the form of equity provided by Warescoâ€™s shareholders with external funding from the European Bank for Reconstruction and Development and the Generale Bank of Belgium, which supported this project from the outset.
By purchasing Warescoâ€™s shares, Europolis Invest has made a further step in its strategy of expansion in Central and Eastern Europe, where the company has already purchased three office buildings and a warehouse park in Warsaw, two office buildings in Budapest and an office building in Prague. Shares in the Europolis portfolio are held by the Investkredit Group (65%) and the European Bank for Reconstruction and Development (35%).
(source: Cushman & Wakefield)