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Crown Square building in new hands

Crown Square

Invesco Real Estate sold the Warsaw Crown Square office building located in the immediate vicinity of the Rondo Daszyńskiego metro station. The buyer of the building is M&A Capital. Crown Square offers over 16,000 sq m. modern office space and 236 parking spaces.

Crown Square is a fully leased office building located in Wola district, next to the Daszyński Roundabout. In addition to excellent transport links (next to the building there is a metro station, stops of five tram lines and seven bus lines) the building is distinguished by very high quality: Crown Square was assessed as "Excellent" in the BREEAM classification system. This confirms that the project was implemented in accordance with the idea of ​​sustainable development.

The Warsaw office market enjoys unflagging interest of investors. Our portfolio includes high-quality projects, located in strategic locations and offering added value to tenants thanks to the proactive management, hence the great interest from the buyers -says Tomas Picha, Senior Director for Transactions in CEE at Invesco Real Estate.We are happy with the sale of our property which we acquired in year 2010/2011 and from the asset management perspective we have executed our targeted business plan with almost 100% retentions of all our blue-chip tenants. With further increased acquisition activity in Polish market, we recognized it is good time to offload it and reinvested the capital into other interesting opportunities which are in advanced stage. Certainly, INVESCO will remain active in Poland and other markets of CE.- emphasizes Tomas Picha.

Invesco Real Estate is a global company investing in real estate and property management since 1983. The company began operations in the United States to enter the European and Asian markets. The company currently manages a global real estate package worth USD 70 billion. In Europe, there are 150 properties in 12 countries worth 11 billion USD nearly. To date, IRE has invested $ 1.3 billion in Central and Eastern Europe in assets in the hotel and commercial sectors.

M&A Capital is a real estate asset manager which provides a range of real estate management and advisory services. It benefits from proven and successful experience across the CEE for the last decade and nearly 20 years of experience in the European real estate market. M&A Capital has recently co-invested in income generating properties in Poland in cooperation with several large institutional investors.

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