Arcona Property Fund acquired the Maris Office Centre in Szczecin from Bywater Properties for a reported price of around €8.9m. The building offers 5,455 sqm on six floors (along with 119 underground parking spaces) and was built in 2006. Located in the center of town, it’s leased to 11 tenants, including Intive, Mobica and Prudential. This deal increases the fund’s assets to €96.8m, of which 40.5 percent is located in Poland. Slovakia’s share of the portfolio amounts to 41.7 percent, while 17.8 percent is located in the Czech Republic.
“The acquisition of this well-located modern building improves the overall asset quality of the portfolio and continues the ‘pivot to Poland’ within the fund,” said Mateusz Siejka, MD of Arcona Capital Poland. “We are keen to acquire further high-yielding stock like this and have a number of new opportunities under review.”
Managed by Arcona Capital Fund Management, Arcona Property Fund produced €2.29m in net rental revenues in the first six months of 2017, up 47 percent from last year. The increase was driven by the acquisition of a new retail portfolio and integrating it into the fund’s holdings.
