Benson Elliot, the UK-based private equity real estate fund manager, acting on behalf of its pan-European fund, Benson Elliot Real Estate Partners V L.P. has acquired Marynarska Business Park” (MBP), an award-winning office complex in Warsaw, from a fund managed by Heitman Real Estate. The price paid was c. €65 million.
MBP provides 46,000 sqm of office space across four buildings, together with 1,400 car parking spaces. The site was developed by Ghelamco in 2008, with the project earning recognition that year as CEE Real Estate Office Development of the Year and Best Overall Development in Poland.
The business park is prominently situated in Mokotów, Warsaw’s largest office sub-market outside the city centre. Mokotów lies between the city centre and Warsaw’s Fryderyk Chopin Airport, providing quick and easy access to both by train or car. The area is set to gain further from major infrastructure works currently underway.
Benson Elliot is planning a targeted refurbishment of the property, encompassing an upgrade of communal areas and an expansion of occupier-focused amenities (including MBP’s food and beverage offering). In addition, Benson Elliot plans to re-design the park’s external areas to improve the volume of green space, providing the park’s office users with a significantly enhanced work environment.
Benson Elliot Capital Management LLP, founded in 2005, is a leading independent private equity real estate fund manager, with c. €3 bn of managed equity. The UK-based, FCA regulated firm has a pan-European investment platform and has transacted in the UK, France, Germany, Italy, Spain, Central Europe and Scandinavia.
Source : Company