CPD Group has sold Iris office building in Warsaw to DL Invest Group. Avison Young brokered the transaction and represented the seller in the disposal process. A modern class A office building is a part of Cybernetyki Office Park, and is located in Mokotow Business District, a rapidly developing Warsaw district. Total building space exceeds 14,000m². Iris is 7 kilometers away from the city centre and only 2 kilometers from the Chopin airport. The purchase price was not disclosed.
“The acquisition of such a valuable asset is an important element of DL Invest Group development strategy. Our portfolio of real estate assets is being constantly expanded through developments and acquisitions of new projects. This is another purchase of DL Invest Group closed this year. The value of our real estate portfolio already exceeds PLN 2 billion. We are capable to acquire assets and development projects quickly, thanks to a well-developed internal structure. This structure allows us also not only to conduct a quick appraisal of the property, but in particular generate additional value by revitalizing or re-commercializing of the project. We are constantly looking for attractive assets to purchase, especially those where we can generate additional value. And Iris is a great example of such an asset – with significant potential to increase value. Additionally, over 95% of the available lease space is based on strong tenants such as Asus, Poczta Polska or Saint Gobain, what guarantees constant, long-term cash flow,” commented Dominik Leszczyński, CEO at DL Invest Group.
