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Kulczyk Silverstein Properties’ Initial Acquisition – Stratos Office Center

Aug 2 2011

Stratos 1

Warsaw, August 2, 2011 - Kulczyk Silverstein Properties (KSP) acquired from Pramerica Real Estate Investors Stratos Office Center. The transaction was financed by Landesbank Berlin AG and Berlin Hyp and brokered by Colliers International.

The project was developed in 2000 by Karimpol, a Viennese firm which is active in the Polish market. Stratos Office Center is a 10,678 square meter Class A office building located in the central business district on Skorupki Street immediately east of Marszalkowska Street, one of Warsaw’s main thoroughfares. The property provides 169 parking spaces on three underground levels in addition to modern technical specifications.

Presently the building is fully let to tenants including BRE Leasing, the Belgium Embassy as well as international law firms Beiten Burkhardt and Bird & Bird.

Commenting on the acquisition, Edgar Rosenmayr, Managing Director of Kulczyk Silverstein Properties: "We are pleased to announce the acquisition of the Stratos Office Centre which fits our investment strategy of acquiring centrally located and well leased office assets which offer good potential for value growth during a medium or long term ownership. The transaction represents the first major acquisition for KSP and we have an appetite to buy more Class A office properties with similar characteristics in Warsaw, Prague and potentially other CEE capitals."

The sale of the Stratos Office Center has proven the relative strength and liquidity of the Polish real estate market in CEE. We are pleased to have this transaction concluded together with Kulczyk Silverstein Properties”, said Dirk Ruppert, Senior Portfolio Manager at Pramerica Real Estate Investors.

 

 

Press Contact

Katarzyna Mazurkiewicz
+48 504 111 005
k.mazurkiewicz@kulczykinvestments.com