Heitman buys Warsaw office park for €116m

The Chicago-based real estate investment firm has purchased the Marynarska Business Park on behalf of its €505 million European value-added fund, Heitman European Property Partners IV.

Heitman has acquired a Class A office complex in Poland on behalf of its European property fund.

According to the Chicago-based real estate investment firm, it purchased Marynarska Business Park in the Mokotow District of Warsaw from German open-ended real estate fund DEGI International, which is managed by Aberdeen Immobilien Kapitalanlagegesellschaft. Although representatives from Heitman declined to disclose the price, sources familiar with the matter have revealed that the firm bought the property for €116 million. 

Rob Reiskin, Heitman’s managing director and co-head of Europe, said in a statement that the purchase of Marynarska Business Park is a “strong example” of the firm’s “value-added strategy.”

Heitman bought the asset on behalf of its €505 million value-added fund, Heitman European Property Partners (HEPP) IV. Launched in 2008, HEPP IV is entering its final year of deploying capital across Central and Eastern Europe, and this property represents its fourth acquisition in Poland.

Built in 2008, Marynarska Business Park totals approximately 45,800 square meters. The building is fully leased to a strong mix of large national and global tenants including Netia, Play, Colgate, Tebodin and SC Johnson. The property also has a café and a restaurant on site.