Cushman & Wakefield appointed property manager of Proximo II

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In early October 2018, global real estate services firm Cushman & Wakefield was appointed a property manager for Proximo II, an office building in Warsaw. The owner of the complex is ČS nemovitostní fond, the Czech largest open-ended investment fund managed by REICO.

Proximo II is the second office building of the Proximo complex, located at 26 Przyokopowa Street, near Daszyńskiego Roundabout in Warsaw. It offers 20,703 sq m of high-class office space and 650 sq m of service space, as well as underground and surface parking spaces. Proximo II was designed by Rolfe Judd while Hochtief Polska was the general contractor. The building incorporates sustainable building materials and has received a green BREEAM certificate with a “Very Good” rating.

“The vicinity of Daszyńskiego Roundabout, or the eastern part of the Wola district, is transforming almost overnight. Office buildings there command slightly lower rents compared to schemes in the city centre, yet offer a top-quality work environment. In addition, this part of Warsaw is one of the best-connected areas of the city, enabling a quick commute by multiple means of public transport. Another advantage of this location is the wide choice of retail stores and service outlets near Proximo. I am confident that, as in the case of Proximo I, REICO will be pleased with cooperation with Cushman & Wakefield on the second building of this complex,” said Zuzanna Paciorkiewicz, PhD, Head of Operations, Asset Services Poland, Cushman & Wakefield.

The ČS nemovitostní fond was founded in 2007 primarily for conservative investors and it is now the largest mutual fund in the Czech Republic. The fund net asset value currently exceeds CZK 21 billion and the number of unit holders is over 75,000. Fund performance achieved 3.39% in 2018 and its long term return annual oscillates between 2.5 – 3.5 % p.a. The fund currently owns 16 office, retail and logistics assets in Czech Republic, Slovakia and Poland. The fund is managed by REICO IS ČS which is a wholly owned subsidiary of Česká spořitelna, a.s., the largest daughter company of Erste Group Bank AG.