Financial conditions of the transaction have not been revealed. The new owner, an investment fund managed by IVG Institutional Funds GmbH, was advised by Savills, and the legal advising was provided by Dentons company. Tax advisors of the fund were Poellath + Partners and Dentons companies, and the agent of the seller was Kancelaria Brochocki. SMFP company was legally advised by CDZ and NOERR Legal Advisors.
Royal Trakt Offices is a renovated office building, located on Aleje Ujazdowskie 41, near the Plac Trzech Krzyży. The object offers 3,500 m2 of space for lease on four storeys, and the tenants can use 22 parking spaces, 12 of them in an underground lot, which, considering the buildings’ historic character, is a unique feature. In Royal Trakt Offices there are offices of such institutions and companies as Ministry of Foreign Affairs, the Embassy of Montenegro, IFM, Krajowa Rada Radców Prawnych and Montagu Equity.
Buying of Royal Trakt Offices confirms that Warsaw real estate market offers interesting investment occasions, which match different investing strategies of its participants. IVG is consequently realising its strategy, investing in the best, modern office buildings located in prestigious parts of Warsaw. What is more, IVG is planning to maintain its large activity on Warsaw investment market in the following months – comments Maciej Zajdel, Managing Director at IVG Poland.
The office building is one of the several, bought by IVG in the recent years. Previously bought objects include Victoria Building, BTC, Ujazdowskie 10, N21, Norway House and Pałac Młodziejowskiego.