Amundi Real Estate, on behalf of its managed funds, has completed the acquisition of "Nowogrodzka Square", a Class A office and retail building in the heart of Warsaw, from Polish property developer Yareal.
With a surface area of 11,529 m² over 6 floors (10,783 m² of offices, 652 m² of ground floor retail outlets, and 94 m² of archive facilities), the building, which also has terraces and an underground carpark with 147 spaces, is leased to ten tenants.
Built in 2018, “Nowogrodzka Square” has been certified “BREEAM Excellent”. Its environmental and architectural qualities have been awarded the "Best Office Building" and "Special Grand Prize of the Architecture Jury 2019" by the City of Warsaw.
Very well located, just a few minutes from the Palace of Culture and Science, a major landmark of the city, and in the immediate vicinity of the Central Station and the large shopping centre "Zlote Tarasy", the building is visible from Jerozolimskie Avenue, one of the main thoroughfares of the city.
Jean-Marc Coly, Chief Executive Officer of Amundi Real Estate adds: “The acquisition of this recent, secure and well-located asset in Warsaw is our debut transaction in the Polish commercial property market. This award-winning building complements our portfolio of core and core+ assets and illustrates our capacity for international diversification.”
For this transaction, Amundi Real Estate was advised by CMS, Knight Frank, Sentient and Crido.
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