Philips House is a 5,571 square meter office building fully leased to the Polish subsidiary of Royal Philips Electronics on a long term basis. The property was developed by TK Development in 1999 for Philips Polska. Philips sold the building in 2006 in a sale leaseback transaction to Eindhoven Properties, a real estate company managed by Guardian Managers, which was declared insolvent in 2012. Philips House, which sits on a freehold site of almost 7,000 square meters and provides 170 parking spaces, is located along Aleje Jerozolimskie, approximately 5 kilometers to the west of the city center.
Batory Office Building I is a 6,394 square meter office building leased to international tenants including Cemex and Goodyear. Batory Office Building I was developed by Liebrecht & Wood in 2000 who sold the property in 2008 to Eindhoven Properties. Batory Office Building I is also located along Aleje Jerozolimskie. The property provides underground parking, two elevator lobbies and a modern technical specification.
"We are pleased to have acquired two high quality, well leased office buildings in one of Warsaw's most well established commercial sub-districts" commented Przemyslaw Krych, CEO of Griffin Group. "Our high yielding purchase was made together with an excellent financing package and at a price below replacement cost."
Colliers International acted on behalf of WestImmo, the primary claimant in the bankruptcy proceeding, brokering the deal between the lender and Griffin Real Estate.