Zeitgeist Asset Management enters Polish market and completes acquisition of two residential buildings in the centre of Warsaw
Prague, 21 June 2017
Zeitgeist Asset Management, a real estate developer and asset manager for private and institutional investors, has acquired two residential buildings on behalf of a Germany based pension fund, administered by Institutional Investment Partners. The properties are located in a prestigious residential area in the very centre of Warsaw.
Located in close proximity to the Krasiński Palace and the adjacent park, the buildings offer an almost 8,900-sqm rentable area. Whereas one part of this square area is being currently used by the Electro-Technological Institute of The University of Warsaw, which was one of the sellers, the other part, offering office space, has been fully leased out. Peter Noack, the co-owner of Zeitgeist Asset Management, said: “With this transaction, we have officially entered another real estate market. At present, our rapidly growing portfolio comprises 17 prime properties in three European countries. And further acquisitions are in the pipeline.”
The property is situated in Warsaw´s unique district of Muranów, which was built on the ruins of an ancient ghetto in an immediate vicinity of The Old Town. A great number of historical landmarks, chateaus and churches are within walking distance. Also, the impressive Monument of Warsaw Uprising, commemorating one of the big chapters in Warsaw´s history, and one of the truly remarkable contemporary Polish buildings, The Museum of the History of Polish Jews, designed by Finnish architect Rainer Mahlamaké, can be found in the vicinity.
About Zeitgeist Asset Management
Zeitgeist Asset Management, with its offices in Prague and Berlin, is a real estate developer and asset manager for private and institutional investors in Germany and Central Eastern Europe. Zeitgeist manages assets worth 213 million, leases out a total area of 207,100 square metres to tenants and has plots of land of 405,500 square metres at its disposal.