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BPH FIZ SN 2 through its spv has acquired Onyx office building from the BUMA Group, located in Cracow at Powstańców Śląskich Str 26.
ONYX is a modern office building with rentable area of 6,000 sqm let to international tenants, Electrolux and Skanska. The development completed in 2008 offers 156 parking spaces. It is distinguished by its remarkable architecture, wonderful panoramic views, modern technology systems and easy access from different city’s districts.
„We are delighted that we could work this time with the Polish investor as all previous developments of the BUMA Group have been sold to international funds. An increasing purchasing power of the Polish society and emerging Polish capital market confirms that now also Poles have a chance to invest at the Polish real estate market. The selection process wasn’t easy but BPH FIZ SN 2 has occurred to be the good choice. Final terms have satisfied both parties and received equity will be invested in new development projects in Cracow” , said Piotr Michalski of Buma Group.
In the selling process the Buma Group has been represented by Knight Frank while the legal advice was provided by Norton Rose.
BPH FIZ Sektora Nieruchomości 2 Fund is the Closed-End Investment Fund that invest in office, retail and warehouse properties. In has already acquired to its portfolio the office building in Warsaw at Puławska Str. and the fully let modern warehouse/office complex located in Warsaw at Działkowa Str, with the total useable area of 6,000 sqm. The second phase of the project is being prepared with a completion date in H2 2011.
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