Immobel offloads Warsaw’s Cedet building for over €129 mln

Image: Immobel

Developer Immobel has sold the Cedet office and retail building in downtown Warsaw to a fund managed by GLL Real Estate Partners on behalf of Korean investors. The value of the transaction amounts to €129.5 million. The recently re-developed and renovated Cedet building, which used to house a department store dating back to the 1950s, was re-opened for business in the third quarter of this year. It comprises more than 15,000 sqm of office space and 7,000 sqm of retail area. The property is BREEAM-certified at the “Excellent” level.

Pin It