June 2019

Penteris advises IMMOFINANZ on Warsaw Spire Acquisition

We have advised IMMOFINANZ on its acquisition of Warsaw Spire. The agreed property value for the office tower amounts to approximately EUR 386m.

The Warsaw Spire Tower Building is roughly 220 metres high and has approximately 71,600 sqm of rentable space. It has 49 floors and is the highest office tower in Warsaw. The office space is fully rented, among others to Goldman Sachs, Samsung, JLL and Mastercard. The tower is situated in the rapidly growing City Center West district.

Our team advising IMMOFINANZ was led by Agnieszka Pytlas, Managing Partner, supported by Kamil Osowski, Iga Piotrowska, and Jeremiasz Kuśmierz (antitrust).

IMMOFINANZ’s property portfolio in Poland had a book value of EUR 760.3 million as of 31 March 2019, which represents 17.2% of the total portfolio. The 26 standing investments have approximately 377,100 sqm of rentable space and an occupancy rate of 93.0%.

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