GLL Real Estate Partners acquire Warsaw office building for €129.5m (PL)

GLL Real Estate Partners acquire Warsaw office building for €129.5m (PL)

Immobel has sold the Cedet office building, located in central Warsaw, Poland, to a fund managed by GLL Real Estate Partners for €129.5m. The building is ideally situated in central Warsaw, in the very heart of the Central Business District and the commercial area of the city, with abundant transport access and amenities. The property has recently regained its former glory after three years of restoration works and has been certified BREEAM “Excellent”.

 

This new complex, measuring more than 22,000m², is split between more than 15,000m² of office space and 7,000m² of commercial space. The entire office space was let even before the building was delivered in July 2018.

 

"We are delighted with the development and the sale of this emblematic building which combines heritage and modernity to such a reputable investor. This is a great recognition of the efforts made by our teams in recent years," says Jacek Wachowicz, CEO of Immobel Poland, a subsidiary of Immobel Group.

 

“The professional way in which the difficult restoration, letting and sale of the landmark building has been managed demonstrates the high quality of the teams, headed by Jacek Wachowicz, in place at Immobel Poland. Their work is making a positive contribution to the expansion of the Polish market as well as to Group international reach,” says Alexander Hodac, Immobel Group’s CEO.

 

Related News