Dentons’ Real Estate team in Warsaw has advised PATRIZIA Frankfurt Kapitalverwaltungsgesellschaft, a German entity managing real estate investment funds in Europe, on the sale of the Le Palais office building located on Próżna Street in Warsaw. Loranze, a company belonging to Generali Europe Income Holding, acquired the property.
Le Palais Office is a unique investment due to the revitalization of two buildings designed in the 19th Century in a neo-renaissance style. The property offers approximately 6,240 sq.m. of gross leasable area (GLA), including approximately 5.100 sq. m. of net office space. The flexible floor layout allows an effective office arrangement for both “open space” and cellular office layout or a combination of thereof. Furthermore, the property features a multi-level underground garage and approximately 1,000 sq. m. of exclusive retail area on the ground and -1 floors.
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