Private investment manager Zeus Capital Management has acquired the Graffit office building in Warsaw from international real estate firm Hines.
Financial details were not disclosed.
The asset was purchased by Tan Poland, a company managed by Zeus, and marks Zeus' first investment in the country.
Graffit is an office building with a retail and services element, located at 28 Domaniewska St in Warsaw. The property was commissioned in the first quarter of 2018 and comprises 18,500 m2 of space.
'The acquisition of Graffit is our first transaction in the Warsaw market and fits perfectly with the investment strategy of our investment platform,' said Lila Pateraki, chief investment officer at Zeus Capital Management. 'We are very pleased to have acquired one of the prime office buildings in the promising Mokotow submarket.'
'Graffit is an important transaction, not only for the seller and buyer, but also for the entire market. We have proven that Mokotów is still an attractive market for developers, tenants and investors alike,' added Wojciech Rumian, vice president of Hines Polska.
Hines was represented by Dentons, the real estate agency Colliers International Poland and CRIDO. The buyers were advised by DLA Piper Gizinski Kycia, the real estate consultancy Cushman & Wakefield Polska, Ernst & Young and Sentient. The acquisition was financed by Berlin Hyp.