Futureal Acquires Lipowy Office Park in Warsaw
Futureal has announced the acquisition of Lipowy Office Park in Warsaw. The company intends to reposition the building complex by transforming it into a sustainable, people-oriented, and modern office complex, according to a press release sent to the Budapest Business Journal.
The Lipowy Office Park, developed by Hochtief Development in 2009, consists of four "A" class office buildings providing a total of 40,000 sqm of office space available for lease. The project also includes a two-story underground garage and a surface garage. The complex is located near the international airport.
The transaction follows Futureal's "Office Impact Strategy", whereby older office buildings are being redeveloped to meet modern ESG market standards.
Futureal envisages that Lipowy Office Park will continue to operate as a sustainable and energy-efficient building in the future. The company's aim is that the complex will achieve Breeam 'Excellent in Use' certification following the refurbishment. Accordingly, a number of green technological improvements are planned, including the installation of solar panels, energy-efficient HVAC systems, LED lighting, and water-saving bathroom fittings.
"The newly announced acquisition fits into our investment strategy, which focuses on value-added and opportunistic investments that are expected to deliver high returns in challenging market conditions. Thanks to the solid professional and financial background of the Futureal Group, we will be able to significantly increase the market value of Lipowy Office Park", emphasized Karol Pilniewicz, CEO of Futureal Investment Partners.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.