Germany’s Deka Immobilien has acquired the fully-let North Gate office building in Warsaw, Poland for €103m. The building was sold by two companies in the Austrian Volksbank Group, which developed North Gate through its project development company Premiumred.
With construction completed in 2008, the 24-storey property in central Warsaw offers 30,000 sqm in total lettable floor space. Its primary anchor tenant is pharmaceutical company Sanofi Aventis.
The building will be included in the investment fund’s WestInvest InterSelect open-ended mutual property fund portfolio.