DRFG has joined the crowd of Czech real estate funds that’s piling into Warsaw with the acquisition of Signum Work Station. Built in 2009, the 32,500 sqm office building is located near Frédéric Chopin Airport.
“The seller was a tough but fair partner,” said says Jan Pelíšek, Director of Real Estate Development CEE at DRFG Group. “In the end, we managed to reach an agreement that is commercially interesting for both parties.” The company did not divulge the price of the deal, nor details such as vacancy levels or WALT, saying merely that it’s part of the group’s expansion plans for CEE. Tenants include Ringier Axel Springer, Mondelez International, Columbia, and PPD. The building has a BREEAM Excellent environmental certificate.
The fund completed the deal using its own resources, claiming that bank financing will be arranged in 2025. DRFG will put its August acquisition TriGranit to work completing fit-outs for new and existing tenants along with upgrading the building’s BMS system and installed technologies.
“Our goal is to further increase the energy efficiency of the building and enhance its attractiveness. We will work on modifying the spaces to meet the needs of existing clients while providing added value for potential new tenants,” says Tomasz Lisiecki, CEO of TriGranit.
The office building was managed by Cromwell Property Group, and Avison Young was the seller’s agent in this transaction.
