Entering Warsaw’s office market, Valad Europe has added Warsaw Corporate Center building to its VCERP fund. Delivered in 1993 by Golub Raczkiewicz Epstein Venture, the seven-storey, 8,693 office building is located in the city’s CBD on Emilli Plater street. Office tenants include companies like Danske Bank, Broadway Malyan and OSTC. JLL and Linklaters advised the seller, while Dentons represented the vendor. The value of the transaction was not published.
“This is a high quality acquisition for VCERP and a well-known asset in Warsaw. In the past few months, we have started to see some excellent value-add opportunities in the Central European office sector, particularly in the major cities like Warsaw and Prague, which has led us to broaden the Fund’s investment strategy to include the office sector,” said Karol Pilniewicz, Valad Europe’s Head of Central Europe.
