IVG buys the Warimpex's office building

Office bulidng Le Palais in Warsaw
Office bulidng Le Palais in Warsaw
Warimpex has signed the sales agreement of the Warsaw's office building Le Palais with IVG Warschau Fonds fund.

The year 2013 began with signing a sales agreement of the recently opened office building Le Palais in Warsaw. The company  Warimpex Finanz- und Beteiligungs AG has signed the preliminary sales agreement with the IVG Warschau Fonds fund. The final closure of transaction is planned for summer 2013 and is connected with fulfillment of conditions required for this type of real estate transaction in Poland. The sale price was not made public.

“We are glad to inform about reaching another agreement, since this is already the third successful sale carried out within last six months. This indicates that Polish real estate market is constantly improving in quality, and investments are profitable,” said Franz Jurkowitsch, the President of Warimpex.

The office builidng Le Palais is situated at the intersection of Próżna Street and Grzybowski Square. It comprises both the Class A office area of 5,300 sq m and the commercial area located on the ground floor. The execution of Le Palais included reconstruction and renovation of historic buildings as well as the building extension. Offices are already leased in 75%. Jones Land LaSalle is responsible for the commercialization process. Considering that the ground and underground floors are intended to be occupied by retail stores and food service businesses, approximately 450 sq m is left for the lease of the office area.

Warimpex Finanz- und Beteiligung AG is a real estate development and investment company with the headquarters in Vienna. The company is listed on the Stock Exchange both in Vienna and Warsaw.

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