AEW Europe has sold the Atrium Tower office building in Warsaw. The new owner of the property is VIG FUND, the real estate investment vehicle of Vienna Insurance Group (VIG). The purchase price was not disclosed.
Atrium Tower is an office building located within the Central Business District in Warsaw on Jana Pawła II 25 Avenue. The property was constructed by Skanska Property in 1997 and sold to AEW Europe in 2001. The building offers over 11,500m² (123,785ft²) of office space.
“We have actively managed Atrium Tower for the last 17 years. Its attractive location and our efforts including a refurbishment programme make it appealing to tenants which is proved by practically full occupancy. I strongly believe the new owner will be satisfied with this acquisition,” says Ewa Parys, Head of Asset Management Central Europe, AEW Europe.
“It was a pleasure to be part of the sales process of the property that from the very beginning was one of the symbols of the development of the modern office market in Warsaw. Now Atrium Tower is an attractive asset accommodating a wide range of international and national tenants,” adds Marek Paczuski, deputy head of the investment department, Savills Poland.
Michał Cwiklinski, Managing Partner, Country Head Poland at GVA Polska, adds: “I am convinced that this office building will be a great investment for our client, VIG FUND, due to its great location in the heart of city centre, as well as the level of income delivered from multiple tenants.”