Penta Real Estate has sold the D48 office building in Warsaw’s Służewiec district to fellow Slovak company IAD Investments for an undisclosed sum.
D48, located at the junction of ul. Domaniewska and ul. Postępu, has a total area of almost 26,200 sqm, of which more than 24,300 sqm is office space and 1,860 sqm is retail and service. The L-shaped building was completed in August 2017 as Penta’s first development in Poland and consists of two wings with 11 and 8 storeys. It also has a two-level underground car park with 435 spaces and a charging station for electric vehicles, 45 above-ground parking spaces and about 100 bicycle stands with changing rooms. The project is LEED certified at the ‘Gold’ level. It is fully leased to such tenants as Smyk, Intrum, Gemius and MFinanse.
IAD Investments is the oldest Slovak asset management company (founded in 1991) and now manages assets – mainly in Slovakia and the Czech Republic – with a total value of more than €1.03 billion. It has acquired D48 for its Prvý realitný fond, which was established in 2006 to manage a long-term and balanced portfolio in all real estate segments to achieve steady returns.
“We appreciate the professionalism and flexibility of all parties during this transaction even more, since the final steps have been closed during this difficult period of anti-COVID-19 measures and we are glad that D48 will become part of Prvýrealitný fond owned and managed by IAD,” comments Vladimir Bolek, a board member of IAD and its portfolio manager.
Vladimír Bolek
Portfolio Management, Member of the Board
IAD Investment
Cushman & Wakefield represented Penta Real Estate in the sale of the property, while Linklaters and Deloitte advised the developer on the legal and tax issues. MiddleCap was the lead advisor for IAD.