The WOOD & Company Real Estate fund has acquired the Astrum Business Park office building in Warsaw from Prochem S.A. and the LFI investment fund. It is the first real estate acquisition by this fund in Poland. The TPA Poland team, headed by Małgorzata Dankowska and Martyna Szatkowska, was the advisor on this transaction for the fund.
The building, which was acquired by WOOD & Company Real Estate, is fully leased, with a total leasable area of more than 23,000 sqm. Astrum Business Park is located at the intersection of two of Warsaw’s main arteries – Jerozolimskie Avenue and Lopuszańska Street. There are several bus stops and a train station nearby, and Frederic Chopin Airport is five kilometers away. Construction of the building was completed in two phases: in 2016 and 2018. It has a technical class A rating.
WOOD & Company Real Estate Fund purchased the property from Irydion Sp. z o.o., a joint venture between Prochem S.A. and investment fund LFI 1 FIZAN.
WOOD & Company Real Estate Fund is one of the local leaders in the commercial real estate segment, with more than 332,600 sqm of leasable space. Following the acquisition of Astrum Business Park, the fund’s portfolio consists of eight office buildings and three shopping centers in the capitals of Central and Eastern Europe.
Prochem S.A. is an engineering company serving clients in the industrial, construction and environment protection sectors. The company was established in 1947. Many years of experience, highly qualified and professional staff and the use of state-of-the-art tools and working methods are among the company’s key strengths, guaranteeing it a stable leader position in the construction market.
LFI 1 FIZAN is an investment fund using monies raised through a non-public offering to purchase investment certificates in securities, loans to Polish small and medium-sized companies and other transferable property rights.