The Luxemburg fund FLE SICAV FIS has acquired the K1 building in Krakow in a deal brokered by JLL. The K1 building is Krakow’s tallest building and is situated in the center of the city. JLL and EY advised the vendor in the transaction. “Commissioned for use in 1998, and being the tallest office building in the city, K1 still dominates the skyline after its refurbishment in 2015,” Piotr Piasecki, Head of Corporate Finance at JLL. “This deal illustrates a noticeable increase of investors’ interest towards older properties which very often offer great central location, high-quality workplaces, recognizable and stable tenant portfolio.” Last year, investment volumes reached €2.75bn, only the second year in which the Polish market has achieved such volume.
