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Pałac Jabłonowskich sold to S+B Gruppe

Rafał Ostrowski 09 August 2018

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

Pałac Jabłonowskich sold to S+B Gruppe
The building is on ul. Senatorska dierctly opposite the National Theatre

POLAND Closed end fund CFB-Fonds 148, which is managed by Commerz Real, has sold the Pałac Jabłonowskich office building at ul. Senatorska 18 and 18A – directly opposite the National Theatre. The property has been bought by S+B Gruppe.

The fund had reached the end of its life and therefore was obliged to sell the asset to pay its shareholders.

At the end of 2015, Mbank, which is the main tenant of the building, prolonged its 17,000 sqm lease until 2020, at a monthly rate of EUR 26 per sqm. At the same time a clause that gave Mbank first purchase rights to the building was removed from the agreement. This allowed Commerz Real to sell the building to S+B Gruppe. The price of the current transaction has not been disclosed but Commerz Real valued the building at EUR 70 mln just a few years ago.

The palace was built in the 18th century for Antoni Jabłonowski and functioned as the city hall before the Second World War. After being devastated during war, the palace was pulled down. It was rebuilt in 1999 as the headquarters of BRE Bank in Poland.

Commerz Real and S+B Gruppe operate several joint ventures in Poland and on the German and Czech markets. In Warsaw, S+B Gruppe is the contractor for the J44 building at Rondo Dmowskiego – a project being developed by Commerz Real.


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