The German fund Catella Wohnen Europa has acquired a package of 72 apartments in Warsaw’s Złota 44 project from BBI Development and the US fund Amstar, which recently took over the troubled scheme for a discount price of €63m. The sale represents one-fourth of the apartments in the skyscraper, marking the first transaction of this type on the Polish market. The package includes all flats located between the 11th and 19th floors, totaling 8,200 sqm of space. The German fund took over the flats with the intention to rent them on a long-term basis. BBI and Amstar say they expect to complete the sale process in the first half of 2018. The average price per sqm in Złota is PLN 28,000.
