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Warburg-HIH Invest finalizes the acquisition of Prime Corporate Center in Warsaw

Prime Corporate Center
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Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) has finalized the Sales & Purchase Agreement for the office property Prime Corporate Center in the city centre of Warsaw. The transaction, which took the form of an asset deal, was carried out as a club deal for four separate accounts of German institutional investors. The property has been sold by the Warsaw-based developer Golub GetHouse. The buyer was represented in this transaction by global real estate services firm Cushman & Wakefield.

The recently completed office property has a total rentable space of almost 20,900 square metres split over 23 floors and five basements. 300 square metres on the ground floor are being used for catering purposes. The property also has 197 parking spaces in the underground car park. The property is located centrally in the inner city of Warsaw in the upcoming district Wola in the immediate vicinity of the central business district and within easy walking distance of the central railway station. The Prime Corporate Center is fully let. All office spaces are being occupied by Raiffeisen Bank Polska S.A. under a ten year lease. The general contractor, the company Warbud, completed the building on schedule in March 2016 after only two years of construction. The Prime Corporate Center was designed by the Chicago-based architecture firm of Solomon Cordwell Buenz in cooperation with Epstein, Warsaw. The building is certified as BREEAM Very Good.

About Warburg-HIH Invest

Warburg-HIH Invest Real Estate (Warburg-HIH Invest) is a real estate investment manager serving institutional investors and covering the entire spectrum of national and international real estate investments. Warburg-HIH Invest is one of Germany's leading managers of special AIF for real estate, with real estate assets of EUR 5.7 billion under management. Warburg-HIH Invest can demonstrate a comprehensive track record in designing and implementing bespoke investment solutions. Warburg-HIH Invest, as a quality provider, supplies products and services with added value. This pursuit matches the quality standards set by both of its shareholders, HIH Real Estate and the private bank M.M.Warburg & CO founded in 1798. For more details, visit us on the Internet: www.warburg-hih.com

About Golub GetHouse

Golub GetHouse is a real estate, investment and development company with over 50 years' experience in real estate market in the United States and Europe. In Poland, apart from Prime Corporate Center, Golub GetHouse has so far developed such office buildings as: Warsaw Financial Center, International Business Center and Warsaw Corporate Center. Currently, in joint-venture with Mennica Polska, Golub GetHouse is developing the Mennica Legacy Tower – a 130-meter tower and an adjacent building, located just 250 metres from ”Rondo ONZ” subway station by Prosta and ┼╗elazna streets in central Warsaw.