Union Investment acquires Zebra Tower in Warsaw

Union Investment has acquired the Zebra Tower office and retail building in Warsaw for approximately €76m. The seller of the class A building is Austrian developer S+B Gruppe. The building was completed during the fourth quarter of 2010 and is situated in the center of Warsaw. It has a total area of around 18,280 sqm on 17 floors, of which 75 percent has been rented to Samsung, Boston Consulting and the Cityboard Media advertising agency, among others. A three-year vacant space lease guarantee from the seller was reported. The property will be a component of the Immo-Invest: Europa institutional real estate fund. Union Investment has thus completed three property transactions in the Polish capital within a single year at a total volume of approximately €220mn.

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