Eika Real Estate Fund (EREF), a real estate fund managed by the fund management company UAB Eika Asset Management (EAM), has acquired the Celebro business centre in Warsaw, the fund's first investment in neighbouring Poland. The business centre has two anchor tenants, Avon and Pratia. The amount of the transaction is not disclosed.
Celebro Business Centre is a modern building completed in 2019, located at 22 Gladka Street in Warsaw. "Celebro is located close to Chopin Airport and major arterial roads. It is a convenient location with easy access to important places such as the city centre, the Mokotov business centre district or the Jerozolimskie "corridor". The building has a BREEAM "New Construction Very Good" rating.
The 7,200 sqm business centre has 139 parking spaces. Celebro is currently 100% leased to two strong tenants, Avon, one of the world's best-known cosmetics brands, and Pratia Clinic, part of the Neuca Group, one of Central and Eastern Europe's largest pharmaceutical companies.
Viktorija Orkinė, Managing Director of EAM, says this is the third investment abroad by the fund management company. "This investment is part of a focused strategy to invest in CEE countries while diversifying our portfolio. The investment in this business centre is safe as it generates a steady long-term rental income stream, and we believe in the potential of Warsaw, and we are planning further investments in this region," shares V. Orkinė.
The business centre was acquired from real estate developer White Stone, and the transaction was facilitated by Poland-based advisors JLL, lawyers Eversheds-Sutherland and financial and tax advisors TPA. BNP Paribas Bank financed the transaction.
"Celebro is EREF's 9th investment. EREF's investment portfolio includes the Highway business centre and Audi and Volkswagen car dealerships in Vilnius, DHL Lietuva terminal in Vilnius Airport and Tamro logistics centre of BENU pharmacies manager in Kaunas FEZ, ViaCon Baltic production centre in Kaunas district, Business Centrum Tesla business centre in Slovakia, Groston shopping centre in Riga.
EREF is the second of the four EAM-managed real estate funds investing in commercial real estate. EREF invests in classic commercial assets such as office buildings, shopping centres and logistics or light industrial assets in the CEE region.
