CA Immobilien Anlagen AG has taken a further successful step in the context of the strategic focusing of its portfolio: the contract for the sale of the Warsaw office building, Lipowy Office Park, has been signed. Kimberley a special purpose vehicle belonging to a US-listed REIT, is taking over the property for a purchase price of around € 108 m.

The office building has a gross floor area above ground of about 40,000 sqm and the entire property is the subject of a long-term lease to Bank Pekao S.A. The four buildings arranged around an inner courtyard were completed in 2009 and have been owned since that time by Europolis AG, which was taken over by CA Immo in early 2011. The transaction is expected to be closed in the first quarter of 2014. The real estate consulting company, Colliers International, and Allen & Overy, solicitors, acted as advisors to the vendor.

- Following the recently established takeover of the AXA portfolio shares in Warsaw, we are now taking the next step to balance out our asset portfolio in Warsaw. In addition, the successful sale of Lipowy Office Park is also evidence that we are able to sell properties at attractive prices and above book value in Eastern Europe as well - says Bruno Ettenauer, CEO of CA Immo.