Marynarska Point I changes hands
Savills Investment Management has completed the disposal of Marynarska Point I, an office property located in Warsaw to an investment fund managed by Adventum Group. The parties have agreed not to disclose the purchase price.
Marynarska Point I is an office building located at 15B Postępu Street in the Mokotów district, the largest non-central business zone in the Polish capital. It offers in total 13,270 sq m of modern office space and retail area on the ground floor. For more than a decade it hosted such reputable companies as Generali or Nielsen. The property has been BREEAM In-Use Excellent certified.
“We are pleased to have completed the transaction with Adventum. The sale of Marynarska Point 1 is in line with our strategy to concentrate on core assets and, following an earlier sale of a building in Hamburg, marks the end of disposition activities for our European Office Fund,” – says Piotr Trzciński, Head of Investment, Savills Investment Management in Poland.
“The acquisition of the BREEAM Excellent In-Use certified Marynarska Point into the Adventum Penta fund underlines our commitment to ESG standards and the further expansion planned in Poland. We are pleased to have cooperated with Savills Investment Management on the transaction,” – says Kristóf Bárány, Partner, Adventum Group.
“Marynarska Point I is a greatly located office asset with significant value-add potential. The property benefits from extensive city infrastructural investments, including redevelopment of Marynarska Street. Mokotów’s business district has significantly increased its attractiveness to investors thanks to transportation improvements and changing landscape with more residential developments,” – says Marek Paczuski, Deputy Head of Investment, Savills Poland.
Savills Investment Management (Savills IM), an international real estate investment manager, was acting on behalf of Savills IM European Office Fund, an open-ended special fund for institutional German investors.
Adventum Group is an investment fund manager focused on Central European real estate investments, with approximately EUR 500+ million in assets under management in office and retail investments within Hungary, Poland and Romania.
Savills Investment Management was advised by Savills Poland, Dentons and ATA Tax, while Adventum Group was represented by BSWW, MDDP and Avison Young.