Prosta Office Centre acquired in developing location – KGAL, a leading independent investment and asset manager, has bought a second office building in Warsaw. The acquisition of the Prosta Office Centre (POC) follows its 2018 purchase of the Spark office complex. Both assets were acquired for a Europe-wide special real estate AIF.
The Warsaw office market is one of the most dynamic in Eastern Europe. The Prosta Office Centre is located in the Wola district to the west of the city centre - a location which will see major development activity during the next five years.
"Today we are securing a location that tomorrow will be part of the new Warsaw city centre," explains André Zücker, Managing Director Real Estate at KGAL Investment Management GmbH. The Towarowa 22 development and other planned projects at Plac Europejski will boast modern infrastructure, cultural facilities and high-class apartments.
"The location is highly dynamic. The Prosta Office Centre will benefit from the urban feel and density of this neighbourhood."
Completed in 2006, the Prosta Office Centre comprises around 21,000 square metres of office and retail space over 11 upper floors and three lower floors. Tenants include companies from the IT and advertising sectors, as well as financial service providers. The POC is located at Prosta-Strasse 51 near the Daszyńskiego roundabout, so is well connected to the road network and public transport.
Spark, KGAL's first Warsaw acquisition property, is a modern office building with a rentable area of 13,000 square meters, and is also located in the Wola district.
DLA Piper and Colliers International advised KGAL.
Please credit KGAL GmbH & Co. KG when using the attached image.