Valad Europe decided to purchase Warsaw Corporate Center from MEAG. The structure will be in the portfolio of the VCERP fund owned by Valad. It is a high quality canvassing for the VCERP fund. We have noticed perfect opportunities on the Central European market within recent months, especially in Warsaw or Prague, and thus we decided to extend the investment strategy of the fund by an office sector (ed.) – comments Karol Pilniewicz, Head of Central Europe, Valad Europe.
The selling party was advised by JLL and Linklaters in the transaction whereas the purchaser was advised by Dentons. It is a good beginning of the year on the investment market in the segment of office properties. Many transactions are at advanced level and other office projects will certainly arouse interest among investors. The sale of Warsaw Corporate Center is a culmination of the nine-year and successful work of MEAG on this property and the recent successes in the area of lease are a fortunate forecast for the investment realized by Valad – says Leon Ballard, Chairman in Department of Capital Markets of Office Properties, JLL.
The VCERP fund was created in 2014 in order to build a portfolio of commercial properties located in Central Europe, mainly in Poland and Czech Republic.
Valad Europe is an independent manager of investments which specializes in properties with the chain of local offices in Europe and manages properties with the value amounting to 5.3 billion euro within 27 investments funds. The company manages about 400 properties covering approx. 4.2 sq. m. Valad Europe hires 200 people in 22 offices in 13 European countries.
Warsaw Corporate Center is located at Emilia Plater 28 Street in front of Marriott Hotel. The building will offer about 8700 sq. m of space and it is composed of nine office tiers as well as commercial and service part on the ground floor. The structure was built in 1993 by Golub Raczkiewicz Epstein Venture. The group of tenants includes e.g. Danska Bank, Broadway Malyan and OSTC.