06:49 BPT Optima sells the Twarda Tower in Warsaw to Europa Capital Finance | |
| In an agreement signed on 30 August 2012 the BPT Optima real estate
investment fund has sold its single largest asset, the Twarda Tower in
Warsaw, Poland, to London-based Europa Capital. The tower was originally acquired in July 2008 as part of a large sale-and-lease back transaction with Telekomunikacja Polska S.A. (TP SA). The original transaction included three office assets in the Polish capital. Although the transaction price is not disclosed, with today's sale BPT Optima exits its single largest asset and with it also closes all liabilities associated with the original transaction. The 27,000 sqm Twarda Tower is located in the very heart of Warsaw’s central business district. "With the sale of the Twarda Tower, BPT Optima achieves an important milestone in the current restructuring process of the fund," said Fund Manager, Antanas Anskaitis. The other tower in the original portfolio, the Moniuszki Tower, was sold in December 2011 while the last of the three buildings, Obrzezna, located in the Mokotow District of Warsaw, still remains with BPT Optima. The building houses the R&D organisation of TP SA, and this July the lease agreement with this single tenant was prolonged until 2023. Apart from the property portfolio in the Baltics, the focus of BPT Optima in Poland is now on Obrzezna in Warsaw and the Baltic Business Center in Gdynia. The biggest Polish asset of the fund is the Young City development site in Gdansk, which is also entering a new development phase this autumn. "As our plan progresses we will assess our strategy in Poland and look to see what other options we have to optimize the current overall portfolio for this fund," concluded Antanas Anskaitis. Source: europaproperty.com | |
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