UK-based private equity real estate fund manager, Benson Elliot, has acquired an office property in central Warsaw from an institutional fund, on behalf of its pan-European fund, Benson Elliot Real Estate Partners IV L.P.
Situated in the popular City Centre West sub-market, the office property comprises c. 14,100 sqm of modern office space, with ground floor retail and 96 car parking spaces.
“We’ve been engaged in Poland’s regional office markets for several years, but see a compelling investment story in Warsaw now too. The Warsaw office market is seeing rising take-up, falling vacancies and strong investor interest, with international companies moving to the capital to benefit from its young, well-educated, English-speaking work force. We’re well positioned to capitalise on the opportunity and look forward to delivering an exciting new urban workplace in this increasingly sought-after locale,” said Joseph DeLeo, Senior Partner at Benson Elliot.
Benson Elliot is planning a transformative refurbishment and subsequent repositioning of the building. The value-add programme will see an upgrade to the existing space and delivery of state-of-the-art amenities including co-working areas, an improved F&B offering and green spaces.
Benson Elliot was advised by Dentons and Reesco and has engaged Syrena Real Estate as local operating partner.