April 2021

Penteris Advises Immofinanz on Large Transaction

Penteris is proud to announce that we successfully supported long-term partner IMMOFINANZ in their  sale of four office buildings in Warsaw to the Indotek Group. With a real estate portfolio of approximately €5 billion (as of 2019), IMMOFINANZ is one of the largest twenty companies traded on the Vienna Stock Exchange. They are also listed on the Warsaw Stock Exchange. Indotek is a leading Hungarian real estate firm.

The buildings sold by Penteris partner IMMOFINANZ have a total rental space of approximately 45,300 sqm, and the sales price amounts to €72.5 million. The office properties sold are located in the Warsaw districts of Mokotów, Ochota as well as Włochy and had an average occupancy rate of 80% at the end of December 2020.

Despite the Covid-19 pandemic, several lockdowns and numerous other obstacles, Penteris helped bring this complicated transaction – which initially began in 2019 – to a successful conclusion. The Penteris team included Managing Partner Agnieszka Pytlas, Iza Bogucka, Łukasz Czerepak, Justyna Jóźwiak, and Martyna Zagrzejewska.

“We’re incredibly proud that the project finished successfully and that we were able to help. We’re also delighted that our partners at IMMOFINANZ are satisfied and happy with the successful conclusion of the deal,”  said Agnieszka Pytlas soon after the transaction was completed.

IMMOFINANZ COO Dietmar Reindl added, “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 finalised the sale.”

Congratulations to IMMOFINANZ and Penteris.