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Cracow office taken over by American fund

Headquarters of Nokia Siemens Networks in Cracow, pic by Maciej Janiec, www.flickr.com
Headquarters of Nokia Siemens Networks in Cracow, pic by Maciej Janiec, www.flickr.com
CPA®:17 – Global investment fund, managed by American W.P. Carey partnership, has ended a sales as well as sale and leaseback transaction with Nokia Solutions and Networks partnership.

The company has rented the office located in Cracow at Bobrzyńskiego Street for 10 years. Value of the transaction totals 9,7 million euro.


In the structure offering 4961 sq. m, built in 2003, a center for research and development will be located. Ca. 300 engineers will cooperate with a unit of Nokia for network and telecommunications infrastructure.


In the official statement on website, W.P. Carey informed that an immense impact on the rental space in Cracow had both size and position of Cracow in the Central and Eastern Europe, which is referred to as “Eastern Europe’s Silicon Valley”. The fund followed possibilities of receiving support from the city, and numerous international companies located in Cracow, such as: Google, GE, Hitachi and IBM.


Nokia, listed on the New York stock exchange, disposes of securities with a market capitalization equaled 20 billion euro. S&P and Moody agencies give it a “BB / Positive Outlook” (“positive perspective”) note.


W.P. Carey partnership has been present in Europe since 1998. It invested here ca. 3 billion euro, and the signed agreement is the second transaction of the company concluded in Poland in this year – in April, W.P. Carey overtook the headquarters of Pekao Bank in Warsaw for 115 million euro.

Tags: Kraków
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