Invesco Real Estate has sold the Alma Office Building in Warsaw to Rotaria in an agreement signed off on last week. The 6,000 sqm GLA asset, now fully let, is located on Marynarksa Street, next to Galeria Mokotow. The main portion of the property was built in the 1960’s and refurbished in 1998. An adjoining two-storey section was built in 2001.
Invesco purchased Alma in 2002, but decided to sell after revisiting its long-term intentions beginning in 2009, according to Tomas Picha, head of transactions for Invesco Real Estate. “I am pleased that eventually there are Polish private equity investors that are liquid enough to acquire commercial properties across Polish markets.”
Piotr Szmilewski, Senior Surveyor from Warsaw’s Capital Markets Group of Cushman & Wakefield, who represented the buyer, said “This acquisition provides Rotaria with an excellent opportunity to expand on the Warsaw market, offering a stable income stream.”