Kulczyk Silverstein Properties (KSP) has purchased the Stratos Office Center in central Warsaw from Pramerica Real Estate Investors. KSP plans further acquisitions in Poland and other countries of CEE region.
Stratos Office Center is a 10,600 sqm Class A office building developed in 2000 by the Austrian developer Karimpol.
Pramerica acquired the property in 2006. The building is fully let to tenants including BRE Leasing, the Belgium Embassy as well as international law firms Beiten Burkhardt and Bird & Bird.
The transaction was financed by Landesbank Berlin AG and Berlin Hyp and was brokered by Colliers International. Hogan Lovells acted for KSP while Salans acted for the vendor. One unconfirmed market source not involved in the deal put the yield at around 6.6%.