Deka Immobilien's makes first investment in Poland (PL)

Deka Immobilien Investment GmbH is expanding its international activities and has invested for the first time in Poland. Through a sale-and-lease-back construction, Deka has bought two fully let office buildings in Warsaw. The seller is a subsidiary of the Polish Kredyt Bank S.A. The bank has long-term lease contracts for the full use of both buildings. Following this acquisistion, Deka Immobilien is now present in 19 countries.

Both buildings are situated in the city part Wola, which borders on the western side of the city center. The Victoria building was delivered in January 2003 and bought for €24.3 mln. This class A office building has 12,200 m² of lettable space, divided over 12 floors. The second building is the Kasprzaka building, which will be placed in the individual real estate Deka-S-Propertyfund No. 1. This fund aims at the institutional investor. The building has 4 floors and a total of 10,400 m² of office space. Both buildings are situated in the banking quarter, which has a good development potential.

Source: Deka Immobilien

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