German property group Strabag Real Estate has purchased an office tower in Warsaw, Poland, from Frankfurt-listed investor Patrizia Immobilien.
Financial details were not disclosed.
The Atrium International office building is a six-storey office property located on Jana Pawla II Avenue in Warsaw, with a lettable area of over 12,000 m2. Local development plans permit the construction of an office tower with a height of up to 135 metres on the site.
JLL represented the vendor in the transaction process.
Patrizia Immobilien, which posted a 72% profit increase last week in its full-year results for 2018, has said it is hunting for M&A opportunities this year. In the wake of acquiring proptech firm Evana, these could include further digital business ventures, the investment manager told PropertyEU.