After winning a bid for Poland’s top office project, Rondo 1, Deutsche Bank is in the process of acquiring another Warsaw’s office project: Metropolitan. The German bank’s investment arm, RREEF Spezial Invest GmbH, has asked Poland’s antitrust regulator (UOKiK) to approve the deal. Market watchers are speculating that the transaction may be worth nearly €200m. The owner of the office building, Aberdeen Asset Management Deutschland, took over the project in 2006 for €169m.
Located at Plac Piłsudskiego street in Warsaw, the Metropolitan project offers 38,000 sqm of lettable space, with Cushman and Wakefield overseeing leasing. The project was delivered in 2003, with the famous architect Norman Foster providing the design.
The new acquisition comes three months after Deutsche Bank purchased Rondo 1. While the value of the transaction was kept confidential, market observers speculate the deal was more than €300m.
