In a deal that’s not yet been officially announced, IVG has sold Horizon Plaza to an as yet undisclosed buyer. The buyer has been present on the Polish investment market for a while now, but the Horizon Plaza purchase is being described as its first acquisition of a Polish office project to date.
The building sold at an allegedly strong yield, but details have not as yet been released. Horizon Plaza is a 35,000 sqm office project, delivered in June 2009 by a joint venture of Curtis Development and IVG. Shortly before the building received the occupancy permit, Curtis sold its 50 percent stake in the project to IVG, which became the sole owner. CB Richard Ellis has been acting for the seller.