Orange sells Warsaw property for €81 mln

Telecom operator Orange Polska has sold a complex of buildings located on ul. Nowogrodzka and ul. Św. Barbary in downtown Warsaw to a company affiliated with Zeitgeist Asset Management for €81 million. The seller will be leasing back part of the space in the complex till 2026 so that it has time to move its infrastructure to a different location. Since 2007, Orange Polska has been carrying out a program of selling buildings and plots that it no longer needs. Many of the properties, which often house technical infrastructure used in the telecom industry, are attractively located in the centers of large Polish cities. Since the beginning of last year, the company has offloaded properties valued at a total of over PLN 650 million. In the future, the operator wants to sell properties valued at an estimated more than PLN 1 billion.

(Warsaw Business Journal)