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Pegaz sold

12 October 2017

Pegaz sold
Thje building was completed in 2016
POLAND UBM Development has sold the Pegaz office building at ul. Kazimierza Wielkiego 3 in Wrocław to an institutional fund managed by Warburg-HIH Invest Real Estate (Warburg-HIH Invest) for an undisclosed sum

The building, which was completed in 2016, is fully leased with an average lease term of six years. It has a leasable area of 20,900 sqm and 390 parking spaces. Three companies lease almost 50 pct of the total space: Insurer XL Catlin, Water treatment company Xylem and legal advisors Axiom. “With the acquisition of Pegaz, we have confirmed our confidence in the Polish market, which, in comparison with other European regions, continues to expand, delivering above-average yield growth”, said Andreas Schultz, the managing director for international transactions management at Warburg-HIH Invest.


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