POLAND Generali Real Estate has purchased the Plac Małachowskiego office building in central Warsaw for its Generali Europe Investment Holding (GEIH) fund from Europa Capital and White Star Real Estate.
The purchase is part of the company’s strategy to acquire office and retail assets, which provide a stable and long-term cash flow in prime locations in the main markets in Europe. The company currently manages a EUR 770 mln portfolio across eight markets. Plac Małachowskiego was built in 1907 and was thoroughly renovated in 2013. It includes 14,500 sqm of space. In 2016, the building was sold by Kulczyk Silverstein Properties to Europa Capital and White Star Real Estate.
Generali Real Estate was advised by White & Case, Baker & Mckenzie, Savills, PwC and Gleeds.