Warsaw, September 16, 2016 – Forum 76. Business Centre, formerly owned by Virako, has been acquired by a London based investment firm in a transaction advised by Colliers International, a global commercial real estate advisory company. Dentons law firm represented the seller in the transaction.
“We are very pleased with the closing of the transaction, which not only strengthens the position of Virako as a leading developer of modern office space in Łódź, but undoubtedly accelerates implementation of new projects. We are convinced that Forum 76 office building will meet all the expectations of its new owner. At the same time we are glad that this is one of the landmark recent transactions on the office investment market in Łódź that positions our city as an attractive place for institutional capital”, said Krzysztof Witkowski, CEO of Virako.
Forum 76. Business Centre is a modern Class A office building, which enjoys a prestigious city center location, at one of the most important intersections: Piłsudskiego Avenue and Kopcińskiego Street. Renowned global and domestic companies such as: Deloitte, Airbus, Magellan, Bank Zachodni WBK, Bank Millennium, Bank BGŻ and BNP Paribas S.A. are among the tenants of the property. This seven-storey office building offers approx. 7,900 sqm of gross office and retail space and more than 100 parking spaces.
Forum 76. Business Centre has been awarded with BREEAM In Use certification and received “Very good” rating in the Asset and Building Management category. It is worth mentioning that Forum 76. was voted the “Office Building of the Year in 2012” and “Office Building of the Year in 2014” in the “Eurobuild Awards” poll.
“The sale of Forum 76. Business Centre highlights the growing interest of institutional investors in modern office buildings located in main regional cities which provide a stable rental income generated by recognized tenants. The commercial real estate market in Łódź is forecast to enjoy further increase of liquidity accompanied by growing demand of international companies looking for office space. In the coming years Łódź is expected to emerge as one of the most important investment hubs in Poland”, said Piotr Mirowski, Partner and Head of Investment Services Poland at Colliers International.
Virako sp. z o.o. is a developer based in Łódź that invests in office projects. Active on the market since 2002. The company specializes not only in construction of modern office complexes but also in renovation of post-industrial buildings. The Faktoria Business Centre, located at 25 Dowborczyków Street in Łódź, was one of the first examples of the adaptation of an old factory for office purposes.