Warsaw office complex sold to CPI Property Group

Warsaw office complex sold to CPI Property Group

Czech real estate investor CPI Property Group (CPIPG) has acquired Eurocentrum office complex in Warsaw, Poland. The puchase prices was not disclosed.

Eurocentrum boasts over 85,100 square metres of gross lettable area and is located on Aleje Jerozolimskie (Jerusalem Avenue), in one of the most sought-after business districts close to the city center.

The property is LEED Platinum certified, and is the largest green certified office complex in Warsaw. Occupancy is nearly 100% with high-quality tenants such as Unilever, COTY, Group One, Randstad, SAGE, PSE S.A., and Urząd Transportu Kolejowego among others.

“The acquisition of Eurocentrum further enhances the Group’s footprint in the Warsaw office market, and demonstrates the strong progress we are making on our acquisition pipeline,” said Tomas Salajka, Head of Acquisitions and Asset Management for CPIPG.

On 8 October 2019, CPIPG announced plans to invest more than €800 million in Warsaw offices during Q4 2019 and early Q1 2020. Since that time, the acquisitions of Equator IV and Eurocentrum have closed and preliminary purchase agreements have been signed for Green Corner A and Equator II.

READ ALSO : Czech investor buys office building in Warsaw

“For the last 12 years as owners of the project we created a totally new kind of real estate property which redefined the local submarket and now plays a dominant role in the Upper Jerozolimskie corridor,” said Marcin Juszczyk, member of the management board, Capital Park Group.

“Eurocentrum Office Complex stands out in terms of design and quality. We are happy to pass the project into the right hands, and are confident the project will add a lot of value and generate profits for CPIPG going forward,” he added.