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Focus Filtrowa changes hands

The company managing Deutsche Bank's real estate funds has acquired the office building for close to 117 million Euro.

DEGI International property fund, belonging to Aberdeen Immobilien Kapitalanlage gmbH, has sold the metropolitan office building Focus Filtrowa. The building has been bought for over 117 million Euro by a company managing Deautsche Bank's real estate funds- RREFF Real Estate.

- Warsaw currently has the biggest and best developed property market in Central Europe. Polish economy is solid and we expect it to achieve higher growth rate than average in neighbouring countries. This creates perfect conditions for investments in the capital - said the board's spokesman at RREFF Germany, Georg Allendorf.

Focus Filtrowa will become the 39th property included in investment portfolio of open real estate fund Grundbesitz Europa, whose assets are currently worth 3.2 billion Euro. Other than Focus, the fund is the owner of two metropolitan office buildings - Topaz and Nefryt. Focus, which has been completed in 2000, is located in Warsaw's Śródmieście. The structure is fully rented out. It houses offices of i.a.: Centrala Grupy Deutsche Bank, BMW, GlaxoSmithKline and Walt Disney.

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