Rockspring acquires Atrium International Business Center in Warsaw

Rockspring Property Investment Managers (“Rockspring”) today announces the acquisition of the Atrium International Business Center in Warsaw, a well-known office building situated in a prime location within Warsaw’s CBD.  The acquisition was on behalf of a separate account client.

The Atrium International Business Centre comprises 12,000 sqm of office space, and benefits from having a diverse base of high quality tenants including Pramerica, Reuters, Dago and BZ WBK,  delivering a strong income stream and covenant.

This latest acquisition is ideally situated on the corner of Aleja Jana Pawla II and Grzybowska Street in a highly visible location within Warsaw’s CBD.  It provides exposure to one of Europe’s most resilient office markets, characterised by low vacancy, limited office stock, and relatively strong underlying national economic fundamentals.

This transaction follows a number of successful purchases in key European cities in recent months, including a retail warehouse in Dortmund, Germany, acquired on behalf of the Rockspring German Retail Box Fund; a logistics warehouse in Stockholm bought for a separate account client; and the Olympia Shopping Centre in Brno, Czech Republic, which was acquired in a joint venture.

Kevin Muscat, European Director of Rockspring, commented:

“Atrium IBC’s acquisition provides our client with excellent exposure to Warsaw’s competitive office market, and is in line with our strategy of sourcing good quality, well-located and well-let assets in major European cities. The purchase of the Atrium International Business Center further demonstrates Rockspring’s expertise in identifying assets that promise to deliver significant capital and income growth within core European Markets.”

Jones Lang LaSalle acted for Rockspring in the acquisition, whilst CBRE advised the vendor, a fund managed by M3 Capital Partners.