Tag Archives: Tristan Capital

Warsaw Financial Center sold to Allianz and Curzon Capital Partners III

It’s tough to think of many more important transactions that could take place in Central Europe than one involving the Warsaw Financial Center. And that’s exactly what was announced today, with co-owners CA Immo and Pramerica Real Estate Investors agreeing provisionally to selling the asset to Allianz and Curzon Capital Partners III, a fund managed by Tristan Capital. JLL and Colliers advised the vendors on the deal, who acquired the building originally in 2005. The two held 50% shares each in the 50,000 sqm asset, but in the new arrangement, Allianz will hold 87.5%. The sale price was announced to have been €210m.

“Our investment strategy calls for 7-10 % of the overall portfolio to be sold every year in order to take maximum advantage of positive market phases and generate profits,” says  Bruno Ettenauer, Chief Executive Officer of CA Immo. “Capital released in this way is earmarked for debt reduction and the realisation of current development projects. We are looking forward to the successful sale of the Warsaw Financial Center, which has now been agreed. This transaction will have a significantly positive impact on the annual result for 2012.”

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Panattoni/Standard Life sell five Polish projects for €91m

Who said the transaction market was dead? Panattoni Europe and Standard Life Investments have sold five projects in Poland, totalling 170,000 sqm of industrial space, to European Property Investors Special Opportunities, a fund co-advised by AEW Europe and Tristan Capital Partners. The transaction value is €91m. The schemes  are located in Łódź, Pruszków and Poznań – all fully let to a tenant mix of 18 logistics, light production and FMCG companies. The projects were developed in 2007-2008 .