Rida Development Corp. joint venture and Mack Real Estate Group acquired from A&T Holdings, a financial investor a complex of four office buildings in Warsaw – Jerozolimskie Business Park. Apollo-Rida Poland, the Polish branch of Rida Development Corp., will act as investment manager and property manager, the company said.
“Jerozolimskie Business Park will expand our portfolio of buildings and office parks. The property fits perfectly into our strategy of acquiring well-located, high-quality assets – offering prospects for further increasing their value. Following the acquisition of Equal Business Park in Krakow in June last year, this purchase is Our next large transaction on the office real estate market confirms the trust that our investors place in the strength of the Polish economy and the increasing competitiveness of the offer of Polish cities on the global office services market. Group in Poland and the United States “- commented Rafał Nowicki from Apollo-Rida Poland, quoted in the material.
The complex offering a total of 16,000 sqm of office space and nearly 400 parking spaces is located a short distance from the West Railway Station, in the vicinity of Atrium Reduta and Blue City shopping centers. In recent years, the property has undergone a thorough modernization, which included the renovation of the common parts of the buildings and the development of the external area, recalled.
Penteris acted as legal advisor to Apollo-Rida Poland, while Linklaters represented the seller – A&T Holdings. Financing of the purchase was provided by Deutsche Pfandbriefbank AG, it was also reported.
Apollo-Rida Poland has been operating since the beginning of the 90s. It was inspired by David Mitzner, an icon and pioneer of the real estate market in Poland. The company carries out development and investment projects in the field of office, warehouse and commercial real estate. Apollo-Rida manages a portfolio of investments with an area of over 1 million sqm and a value exceeding EUR 1.5 billion.
Source: Apollo-Rida & ISBnews
