Commerz Real took over Warsaw’s famous Universal building on Al. Jerozolimskie street from S+B Gruppe. The deal, whose price was not revealed, also includes the perpetual usefruct rights for the plot the building is built on. The new investor plans to spend nearly €95m to add 22,0000 sqm of office on the site. Construction is set to start next year and is expected to take two years. This is Commerz Real’s third acquisition on the Polish market. It also bought Harmony Office Center and Tulipan House. S+B Gruppe acquired Universal last year.
