Invesco Real Estate (IRE) has announced the sale of the Zaulek Piekna office building on behalf of one of its separate account clients in Germany to GLL Real Estate Partners.
Financial details were not disclosed.
Developed in 2005 through a collaboration between Atelier 2 Architekci and Ghelamco Poland, Zaulek Piekna provides around 8,860 m2 of office space in Warsaw’s Central Business District. It s 100% leased to national and international tenants including Mazars, Pekao Bank, Sony and Bang & Olufsen.
'The successful sale of Zaulek Piekna confirms the continued demand among institutional investors for core assets in Poland,' commented Tomas Picha, director of CEE transactions for IRE. 'This demand, combined with the active management of our client’s investment mandate in order to achieve their investment objectives, meant the timing was optimal for us to sell this outstanding asset. However, we continue to have a strong interest in the Polish market on behalf of our existing investment mandates.'