IMMOFINANZ sells four offices in Warsaw for €72m

IMMOFINANZ has sold four office buildings in Warsaw to the Indotek Group, a leading Hungarian real estate firm. The buildings have total rental space of approximately 45,300 square meters (tk square feet). The sales price amounts to €72.5 million ($86.35 million).

“Following the acquisition of our Warsaw Spire myhive landmark, the process of focusing our Warsaw standing investment office portfolio on our innovative myhive office brand is at an advanced stage. The transaction with the Indotek Group was signed before the outbreak of the COVID-19 pandemic —  we are pleased to have now successfully finalized the sale,” stated Dietmar Reindl, COO of IMMOFINANZ.

The office properties sold are located in the Warsaw districts of Mokotow, Ochota as well as Włochy and had an average occupancy rate of 80 percent at the end of December 2020.