Warimpex sells Le Palais office building in Warsaw (PL)

Shortly after the successful completion and opening of Le Palais office building in Warsaw earlier this year, Warimpex Finanz- und Beteiligungs AG announces the signature of a purchase agreement with the IVG Warsaw fund.

The transaction is expected to be closed in summer 2013, being subject to the fulfillment of the standard closing prerequisites for such real estate transactions in Poland.

The parties agreed that the purchase price would not be disclosed. “We are very pleased to announce another transaction – it is the third successful real estate sale within the last six months and shows once again that the Polish market is gaining more and more in quality and that investments pay off,” said Franz Jurkowitsch, CEO of Warimpex.

Le Palais office building is located on the corner of Próýna Street and Grzybowski Square in the central business district of Warsaw. It provides approximately 5,300 m² of prime, grade A office space plus retail space on the ground floor, and has attracted renowned tenants. More than 75% of the office space has already been successfully let through the real estate services firm Jones Lang LaSalle. Only around 450 m² of office space as well as some of the retail and restaurant/bar space on the ground floor and in the basement are still available.

Source: Warimpex

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