German fund acquires Metropolitan

Deutsche Asset & Wealth Management has purchased the Metropolitan office building in Warsaw’s city center. The sum of the transaction has not been disclosed but according to market estimations the deal’s value stood at some €200 million. JLL and Cushman & Wakefield brokered the sale. The seller, Aberdeen Asset Management Deutschland, had bought the scheme in 2006 for €169 million. Metropolitan features 38,000 sqm of office space and its tenants include DZ Bank Polska, BNP Paribas, McKinsey & Company, Dom Development, Cushman & Wakefield and Colliers International. Earlier this year, Deutsche Asset & Wealth Management acquired one of Warsaw’s largest office projects – Rondo 1 – for €300 million.