KGAL acquires Villa Office in Warsaw

KGAL Investment Management GmbH & Co KG has acquired office property Villa Office in Warsaw, expanding its managed real estate portfolio. 

Villa Office was acquired on behalf of a pan-European real estate special Alternative Investment Fund (AIF) from Polish developer, Echo Investment SA, for around EUR87 million.  

Thanks to its sustained positive economic and demographic development, Warsaw has one of the most dynamic office markets in Eastern Europe. "Villa Office impresses with its urban location and its high standards of architecture, sustainability and quality of stay. In particular the different facilities available on the former brewery site make the location highly attractive," explains André Zücker, Managing Director of KGAL Investment Management with responsibility for the real estate asset class.  

The multi-tenant property located on ul Grzybowska was completed in 2020 and has a BREEAM Excellent rating. It is part of a larger district development project on a former brewery site, where 50,000 square meters of office space and 10,000 square meters of restaurant space will be built alongside 1,000 residential units. The Villa Office itself comprises a total of around 16,700 square meters of office and restaurant space spread over 14 floors. The majority is already leased on a long-term basis to high profile international companies such as Accenture, a financial institution and WeWork.  

Colliers (brokerage and rental appraisal), BNP Paribas (technical appraisal) and DLA Piper (legal and tax advice) acted as advisers on the transaction.