Starwood Capital Group took over Quattro Business Park in Kraków from the local developer Buma. The office complex comprises of four 14-story office buildings totaling 50,000 sqm of space. The project’s last phase was delivered this year. The complex is 97 percent leased. Three of the four office buildings have already secured BREEAM certificates. The transaction is Starwood’s second acquisition on the Polish market in 2014. The American investment group acquired a portfolio of three office projects from Ghelamco earlier this year. No further details regarding the Quattro Business Park deal were disclosed.
‘We continue to be active in the country that’s currently one of the fastest-growing economies in Europe. Poland has continued to attract international corporations thanks to its highly skilled workforce, modern infrastructure system and stable political and economical position,” said Keegan Viscius, vice president of Starwood Capital Group. He adds that the fund is looking to increase its exposure on Poland’s regional office markets.
