CPI Property Group (CPIPG), the largest owner of commercial property in the Czech Republic, Berlin and the CEE region, has purchased the Equator II office building as part of its announced portfolio building strategy on the Warsaw office market.
Equator II is the fifth office property acquired by CPIPG after the announcement of its investment strategy in October 2019. In the fourth quarter of 2019 and at the beginning of 2020, CPIPG purchased high quality office buildings in prestigious locations in Warsaw with a total lease area of nearly 200,000 sq m.
CPIPG took over Equator II from Karimpol Polska. The building is located in Aleje Jerozolimskie, on the border of Śródmieście and Ochota districts. The 14-storey class A office building was completed in 2011. At the moment, Equator II, with the GLA of 23,100 sq m, is commercialized in 99%. Prestigious tenants of the building represent the following industries: medical, IT, real estate and insurance.
‘The purchase of the Equator II office building has strengthened our ownership position in the Aleje Jerozolimskie corridor. This is another acquisition of CPIPG in this zone, after Eurocentrum Office Complex and Equator IV. By concentrating our assets in one place, we will create a strong and uniform property management structure and develop their mutual synergy,’ said Barbara Topolska, Country Manager CPI PG Poland.
Equator II is another office building that fits into CPIPG’s strategy consisting in taking over high quality office buildings that meet ecological and location standards, with the possibility of further development.
The sale of Equator II marks the completion of investment cycle of Karimpol´s successful Equator office complex on Al. Jerozolimskie which was one of the foundation stones of the Jerozolimskie Business Corridor. The second transaction with CPI in Warsaw proves the investment grade quality of our products to large institutional investors throughout Central Europe – Harald Jeschek, Managing Partner, Karimpol Group.