IVG announced the purchase of the The Młodziejowski Palace office facility from Mermaid Properties for ca. 22.4 MM EUR. The real estate will become an asset in the portfolio of IVG Warschau Fonds – an investment fund managed by the purchaser.
The Młodziejowski Palace is a historic building on Miodowa 10 in Warsaw Old Town. After the recently completed renovation the property has been adapted as an office facility that holds over 6,9 th sq m. The main lessees in the property are The Ministry of Foreign Affairs, The Office for Democratic Institutions and Human Rights (ODIHR) and the international consulting firm AT Kearney.
The Młodziejowski Palace is the fifth office facility in Warsaw that IVG purchased for its various funds in the last 15 months. The other four being Victoria Building, BTC, Ujazdowskie 10 and N21. In the transaction the seller was represented by DTZ, the buyer by CBRE.