|
contents | business | |||||||||
| Immofinanz Group acquires 100% of top office property in Warsaw Austrian real estate group Immofinanz is taking its next growth and optimisation step in Warsaw, currently the most attractive market for office properties in Eastern Europe. The company is acquiring the remaining 49% of the Warsaw Class A office property Equator and the adjoining office development project Nimbus from the former project partner, the developer Karimpol S.A. In exchange, this company will purchase 51% of the adjacent Cirrus development project from the Immofinanz Group and become the sole shareholder of this object. The parties have agreed not to release any information on the purchase or sale price for this transaction. The Equator, Nimbus and Cirrus development projects were part of a joint venture that was founded in 2006. The Equator Office Building was completed in 2008; it has over 19, 100 sqm of rentable space and is fully occupied at the present time. The Nimbus development project is currently in an advanced planning stage. Plans call for the construction of a high-quality office building with approx. 20,000 sqm at this site. Construction is scheduled to start at the beginning of 2012. write your comments about the article :: © 2011 Construction News :: home page |