CA Immo has sold the Bitwy Warszawskiej office center in Warsaw to Polski Zwiazek Pilki Noznej (the Polish Football Association).
Bitwy Warszawskiej, which is over 20 years old, consists of three buildings, and has a gross lettable area of around 20,000 square meters, was acquired by CA Immo in 2013. According to the company, the sale is in line with its long-term investment strategy, “which has a clear focus on large, high-quality-class-A office properties in prime-city-center locations. As part of this strategy, CA Immo sells properties that do not correspond to its core business in terms of asset class, location, building quality, age, or value-creation potential, thereby continuously optimizing the quality and sustainability of the property portfolio.”
“The successful sale of Bitwy Warszawskiej is a further step in the implementation of our strategic capital rotation program,” said CA Immo CEO Keegan Viscius. “The proceeds from this sale will be used, among other things, to reinvest in our organic development pipeline at a higher yield, to cover the company’s ongoing liquidity requirements and to make selective external investments should opportunities arise.”
CBRE and the Greenberg Traurig law firm advised CA Immo on the sale.
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