Marvipol secured a buyer for its Prosta Tower offices in Warsaw. A preliminary agreement, tied to a long-term lease from Marvipol, has already been signed with an undisclosed investment fund that has agreed to pay €26.7m (PLN 118m) for the project. Located in Warsaw’s Wola district, near the Daszyńskiego roundabout, Prosta was supposed to be the developer’s landmark CBD office development. Delivered in 2011, the 18-story property is currently 95 percent leased, with Marvipol agreeing to anchor the project for the long-term. The transaction is expected to close in January.
Once all liabilities on the property are paid off, the sale will add PLN 49m in equity to Marvipol’s operations. The book value of the property has been estimated at nearly PLN 100m, according to Marvipol’s Q3 2016 report.
