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«Union Investment has acquired the Horizon Plaza office building in Warsaw from IVG Immobilien AG in a transaction worth around EUR 103 million. The deal is the second Polish investment for the UniImmo: Global open-ended real estate fund. Union Investment previously purchased a shopping centre in Katowice for EUR 95 million in October 2008. “This transaction is an excellent fit with our investment strategy for UniImmo: Global to generate higher returns in core-plus countries,” says Dr. Karl-Joseph Hermanns-Engel, member of the management team of Union Investment Real Estate GmbH. “Poland has enjoyed impressive growth over the past ten years and its economic structureincreasingly resembles that of the original 15 EU member states.”
Completed in 2009, the Horizon Plaza offers 38,000 square metres of space, including 32,700 square metres for office use, a small retail area of 3,200 square metres plus additional storage space. The property features outstanding architecture, above-average construction quality and excellent divisibility of the rental space. Located in a prime location in Mokotow, the city’s second largest office submarket, the building is 90% let to financially solid companies».
(CS della Società).
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