Deka Immobilien has bought an office complex in Warsaw for €152 million from a subsidiary of the listed Echo Investments SA, the largest real estate developer in Poland.
The ensemble in ul. Grzybowska includes the new building “Malthouse Office”, completed in 2020, and the revitalized objects “The Malthouse, Historic Cellars” and “Historical Villa”. The rentable area of the multi-tenant property amounts to a total of approx. 30,000 square meters and 180 parking spaces.
The majority is rented on a long-term basis. The main tenants are the Polish beer producer Grupa Żywiec, the international law firm Allen & Overy and the consulting firm MDDP. A certification of the office property “Malthouse Office” with the British seal of approval for sustainable building BREEAM with “Excellent” is aimed for.
The office complex in Warsaw is part of the “Browary Warszawskie” district development, which comprises a total of over 100,000 square meters of office, residential and retail space. The quarter on the former brewery area is centrally located in the City Center West submarket. It convinces with its mix of uses of office, retail and gastronomy, which creates a very special flair with its industrial charm and is a point of attraction for the wider area.
With this investment, the fund management is expanding the WestInvest InterSelect portfolio in Poland with a new and representative building in a prime CBD location.