Generali buys office asset in Warsaw

Generali Real Estate, on behalf of the Generali Group’s GEIH fund, has completed the acquisition of Plac Malachowskiego from Europa Capital and White Star Real Estate.

Financial details were not disclosed.

The property, built in 1907 and renovated in 2013, comprises 14,500 m2 of office and retail space over six above ground and two below ground floors.

‘Investor appetite for Plac Malachowskiego was exceptionally strong which is a true endorsement of not just the quality of the building, but also the long income profile that we have created,’ said Robert Martin, founding partner at Europa Capital.

Current tenant mix includes, among others, US legal firm K&L Gates and Luxembourg private equity company CVC Capital Partners.

With this acquisition, Generali Real Estate currently manages a €770 mln portfolio across eight markets in Central and Eastern Europe.

In this transaction, Generali Real Estate was advised by White&Case, Baker & Mckenzie, Savills, PWC and Gleeds.


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