Deutsche Asset & Wealth Management’s (DeAWM) real estate investment business today announced that it has acquired Rondo One, an office building in the heart of the Warsaw Central Business District, on behalf of its investors for approximately €300 million. This brings its total assets under management in Poland to €850 million.
Rondo One comprises almost 70,000 square metres of office space over two buildings, and includes 5,000 square metres of retail space on the ground floor.
The property, certified LEED Gold, is one of the largest office buildings in Poland and Central Europe. It offers high quality Class A office space in a desirable location due to its proximity to five star hotels, Zlote Tarasy, a 65,000 square metre prime retail destination, and its position at the intersection of two of the city’s major thoroughfares.
Gianluca Muzzi, Head of Real Estate, Europe, at DeAWM said, “The quality and location of Rondo One and its caliber of tenants, along the highly attractive and growing Polish market make this an excellent investment for our clients”.
He added ‘Our asset management team will take advantage of its strong track record and local experience as we look to capitalize on growth opportunities in the region”.
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Deutsche Asset & Wealth Management
With €923 billion of assets under management (as at December 31, 2013), Deutsche Asset & Wealth Management is one of the world's leading investment organizations. Deutsche Asset & Wealth Management offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices.
1 Deutsche Asset & Wealth Management is the brand name for the Asset Management & Wealth Management-division of Deutsche Bank AG and its subsidiaries. The responsible legal entities offering clients products or services of Deutsche Asset & Wealth Management are listed in the respective contracts, sales materials and other product information documents.
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