CA Immobilien Anlagen AG (CA Immo) signed a sales agreement concerning Lipowy Office Park complex in Warsaw. The purchaser is Kimberley Sp. z o.o., a company owned by American REIT fund. The value of the transaction totaled ca. 108 million euro.
Lipowa Office Park was commissioned in 2009. It is composed of four buildings class A, which are located around the internal courtyard. The complex offers jointly ca. 40 000 sq. m of usable area. Moreover, a two-level underground as well as aboveground garage was built within the investment. The offices are equipped with management, safety and CCTV monitoring systems. A modern systems of air exchange and de-smoking were applied in the building as well as sprinkler devices and escape routes. The complex is located in close proximity to Żwirki i Wigury Street.
The whole complex is rented by Bank Pekao S.A. Europolis AG has been the owner of Lipowy Office Park since 2009, however, it was taken over by CA Immo in 2011. At present, a sales transaction is being carried out. It is supposed to end in the first quarter of 2014. Lipowy Office Park was advised by Colliers International and Allen & Overy companies in the negotiations.
We are making another step at making our property portfolio in the capital more sustained, after recent taking over of shares in AXA partnership in Warsaw. Furthermore, the successful sales of Lipowy Office Park is an evidence that we are able to sale investments in an attractive price above their book value in the Eastern Europe – said Bruno Ettenauer, chairman in CA Immo.