KanAm Grund's Leading Cities Invest fund has acquired a grade A office in Warsaw from a vehicle managed by GLL Real Estate Partners, marking the fund's first investment in Poland.
Financial details were not disclosed.
Originally built in 1902 as a residential building, Renaissance was converted into an office scheme in 2004, and refurbished again in 2017, with a BREEAM 'very good' rating.
The 5,300 m2 property offers five levels above ground, including five retail units on the ground floor, and a three-level underground car park. Its main tenant is global media company Viacom Media Networks, while a Raiffeisen Bank Polska branch, a hair salon and a delicatessen and organic food retailer also occupy the building.
The deal brings Leading Cities Invest to a total of 22 properties, across 16 locations in Germany, Belgium, France, the UK, Switzerland and Poland.
The fund includes a diverse mix of offices, industrial, retail and hotel assets, as well as medical surgeries and leisure facilities, all 100% leased, according to KanAm Grund.