CA Immo has successfully finalized the sale of Wspolna 47-49 office building in Warsaw. The property totals 7,696m² of GLA and 137 parking units. The sale has closed at a premium to the 31 December 2020 book value. The property was acquired by Yareal Polska. Warsaw is one of the long-standing core markets of CA Immo. The company's Polish portfolio consists of nine office buildings with a total area of more than 170,000m² and a book value of approximately €590m. The purchase price was not disclosed.
Hedwig Hofler, Head of Investment Management AT & CEE, commented: “With the sale of Wspolna 47-49, we have further increased our focus on large, modern Class A office properties in established or emerging office submarkets. This disposal is another step in our capital rotation program, which aims to secure and increase the attractiveness and sustainability of our real estate portfolio.”