INVESTIKA Real Estate Fund, acting jointly with its JV partner – BUD Holdings SA., has acquired the A-class office building Piastow Office Center in Szczecin from the funds managed by Blackstone. Thanks to this acquisition INVESTIKA Real Estate Fund expanded to another important city in Poland.
The Piastow Office Center located near the very heart of City of Szczecin consists of 3 office buildings totalling 21,000m2 of A-class commercial premises. The complex has been leased to modern IT/TELCO companies and business processing administrations. Besides offices, there is an established retail component such as canteen, bank and insurance outlets, medical facilities and gym. Including this acquisition the total size of real estate assets owned by INVESTIKA Real Estate Fund in Poland have increased to 430,000m2.
“Following a significant increase in our real estate portfolio in December 2024, we continue to grow and strengthen our position on the largest and the most robust market in CEE. We have already successfully set foot in the TriCity and now have spread our presence to Szczecin. These regional markets are booming and attracting companies from businesses such as IT/TELCO, maritime, logistics and banking. The stable rental income from this property will help achieve INVESTIKA Real Estate Fund´s target return of 4 – 6 % p.a. for its investors,“ says Petr Cizek, Chairman of the Board of Directors of INVESTIKA investment company which manages INVESTIKA Real Estate Fund, open-ended mutual fund.
“We have been seeking an acquisition in Szczecin for a long time and we are pleased that we have managed to acquire this attractive office complex, as it is one of the best and most promising office buildings in the area, and we have no doubt about its future growth,” added Paolo Panico, Director of BUD Holdings SA.
“Purchase of Piastów Office Center, being the first office property investment transaction in Poland in 2025, gives INVESTIKA Real Estate Fund a strong starting position into the year. Szczecin is considered one of the most stable office real estate markets in Poland, with a long-term low vacancy rate and stable rental development. The unique architecture of the project and the highest quality of used materials guarantee the longevity of the project, which combined with our long-term active asset & property management strategy in place makes us convinced about the asset´s increase in value in the long run,“ said Rafal Proczek, Director of INVESTIKA Polska Services, that is cooperating with INVESTIKA investment company in the management of the Polish part of INVESTIKA Real Estate Fund´s portfolio.
INVESTIKA Real Estate Fund and BUD Holdings were advised by LegalKraft and Savills in Poland. The Seller was advised by Cushman Wakefield and Greenberg Traurig.
Image Source - INVESTIKA.
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