Europa Capital and White Star Buy Plac Malachowskiego in Warsaw
Europa Capital (“Europa”) together with White Star Real Estate (“White Star”) announce that they have completed the acquisition of Plac Malachowskiego in central Warsaw (“the Property”).
Plac Malachowskiego is a recently redeveloped 18,000 square meter landmark office building close to Saski Gardens and Plac Pilsudski between Warsaw CBD and the old town. Car parking is also provided on site.
The Property is partially leased and tenants include international law firm K & L Gates, global private equity firm CVC Capital Partners and a number of boutique retailers and a restaurant. The building offers prospective tenants with a rare opportunity to lease high quality space in one of the few historical buildings in the CBD of Warsaw.
Europa and White Star have formed a joint venture for the purposes of this investment, while White Star will provide local Asset and Property Management services for the Project.
Robert Martin, Principal and Head of Central Europe at Europa, commented: “This is an exceptionally well developed office asset which offers tenants something different from the Warsaw norm. Amid an office market in oversupply, finding such special properties, and acquiring from motivated sellers, are of interest to Europa”.
James Farmer, Director (Central Europe Acquisitions) at Europa, added: “Plac Malachowskiego represents a rare opportunity to invest in a truly first class office building in a unique location in the CBD of Warsaw. The investment fits perfectly with our strategy to acquire high quality buildings in the key capital cities of the Central Europe region”.
Brian Patterson, Founder of White Star Real Estate, commented: “We are pleased to have identified and invested alongside Europa in the exciting opportunity presented by Plac Malachowskiego. This addition of a high-quality standing asset complements the WSRE development portfolio across Central Europe, and our asset and property management portfolio”.
For further information, please contact:
Gordon Simpson/Elizabeth King, Finsbury: + 44 20 7251 3801
Notes to Editors:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 90 transactions totaling some €9.0 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of Rockefeller Group International (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com.
White Star Real Estate
White Star Real Estate is the real estate arm of White Star Group, a holding company established to provide real estate management services and to make real estate and private equity investments primarily in Central and Eastern Europe. White Star is a highly respected international real estate company with a first-class track record. Its team has been active in Central and Eastern Europe since 1997, leading the completion of over 50 development projects throughout the region. White Star is focused on providing clients with high quality, best of class, real estate asset management services, as well as sourcing and developing real estate opportunities in the CEE markets.
Further information can be found at www.whitestar-realestate.com.