International real estate developer HB Reavis has sold its Konstruktorska Business Center to international real estate investment company Golden Star Estate B.V. in the developer’s first divestment in the Polish market.
Konstruktorska Business Center is our first development in Warsaw, delivered in 2013. With the sale we mark the completion of the entire development cycle, proving our capability to create high-quality office schemes that are attractive to both occupiers and investors. The successful sale also confirms the continued demand of investors for core assets in Poland. We found common understanding with Golden Star Estate and appreciate their investment approach.
The sale of Konstruktorska Business Center demonstrates clearly that investors have confidence in the Mokotow business district and they can envision its future potential. With the airport at the district’s doorstep, constantly developing amenities and upcoming infrastructural improvements, this largest business hub in Poland will in the long-term remain attractive for various types of businesses.
The acquisition of Konstruktorska Business Center is another investment in a quality asset we have decided to add into our international real estate portfolio of income producing assets. Konstruktorska Business Center stands in line with our business strategy of strengthening our position in the Warsaw real estate market together with other quality income producing properties we already own and manage here successfully.