Griffin Premium RE.. N.V. (GPRE), which recently rebranded to Globalworth Poland, announces the conclusion of a purchase agreement on the Warta Tower office building in Warsaw. The value of the transaction amounted to €55 million.
Warta Tower, which was completed in 2000, is one of the first and most widely recognized office buildings in Warsaw. It comprises approximately 28,000 sqm of gross leasable area and offers outstanding architectural qualities, including its iconic lobby. The 21-floor building is multi-tenanted, with Warta Insurance as its largest tenant.
Warta Tower is the fourth office property acquired since Globalworth became the controlling shareholder in GPRE in December 2017 and demonstrates Globalworth Poland’s expansion strategy as it seeks to become the leading office landlord in Poland.
Malgorzata Turek, Chief Executive Officer of GPRE, comments: ”Globalworth Poland is very excited to be growing its portfolio with the acquisition of this sizable, landmark asset in Warsaw, following on from the high-quality offices in Wroclaw, Gdansk and Katowice acquired in December 2017. In addition to an attractive current income, this property offers excellent asset management potential.”
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