U.S. firm pays €139m for Polish portfolio

Affiliates of Lone Star Funds have acquired a real estate package from Cavatina Holding S.A. for €139 million ($138.7 million).

Assets include the Carbon Tower in Wrocław, Poland, and Ocean Office Park A and Tischnera Office in Kraków, Poland, offering a total of nearly 66,000 square meters (710,418 square feet), and their average lease rate is at the level of approximately 90 percent.

The sale price amounted to €40.6 million ($40.5 million) for Carbon Tower, €31.1 million ($31 million) for Ocean Park A and €67.6 million ($67.5 million) for Tischnera Office.

Prime office assets in Poland are attracting strong interest from investors. In the first half of the year, the total investment volume reached €2.88 billion ($2.88 billion), with as much as 44 percent in the office market.

“CBRE Poland are proud to have advised on another landmark transaction for our client Cavatina Holding illustrating the resilience and strength of the regional office