CPI Property Group (CPIPG), the largest owner of income-producing real estate in the Czech Republic, has acquired the Eurocentrum office complex in Poland’s capital, Warsaw.
With in excess of 85,100 sq metres of GLA and located on Aleje Jerozolimskie, the centre is in one of the city’s most sought-after business districts.
Head of Acquisitions for CPIPG, Tomas Salajka said: “The acquisition of Eurocentrum further enhances the Group’s footprint in the Warsaw office market, and demonstrates the strong progress we are making on our acquisition pipeline.”
CPI earlier in the year announced plans to spend some EUR800million in Warsaw offices during Q4 2019 and Q1 2020 having subsequently acquired Equator IV. Two other purchases are at the preliminary agreement stage.
The group’s ambitious acquisition trail in Poland confirms Warsaw’s place as a firm favourite for investors as the country’s position as the CEE’s economic powerhouse shows little sign of abating.
Blended living – next in line?
While offices and logistics still have appeal, Mellstock Studivest is promoting Student Housing and Co-living (and the combination of the two known as Blended Living) as the next hot topic in the country. While some big names are already active there, the opportunities for profits and yield are exceptional given Poland’s push for economic growth and expansion of its education sector.
Generally, in our view, the whole CEE region has great opportunity especially as many investors are still not ready to make their first move into the region.
Visit http://studivest.com/newopportunities/ for our thoughts on Emerging Europe.