As expected, Deutsche Asset & Wealth Management took over the Metropolitan office project in Warsaw. The value of the transaction was agreed to be kept confidential, but market watchers are speculating that the value of the transaction hit €200m. JLL and Cushman & Wakefield brokered the deal.
This is the second deal for Deutsche Asset & Wealth Management on Warsaw’s office market this year, following its acquisition of Rondo 1. Completed in 2003, Metropolitan was sold to Aberdeen Asset Management Deutschland in 2006 for €169m. Managed by Cushman & Wakefield, the property offers 38,000 sqm of lettable space. Tenants include DZ Bank Polska, BNP Paribas, McKinsey & Company, Dom Development, Cushman & Wakefield and Colliers International.
