PHN sells Rakowiecka City

Real estate group Polski Holding Nieruchomości (PHN) has sold the Rakowiecka City office scheme to the Turkish Embassy in Poland, the company said in a news release on Thursday. The deal value was not disclosed. However, the property was sold at a price “higher than its book value,” PHN said. Rakowiecka City offers 1,802 sqm of GLA. The building is located on ul. Rakowiecka in Warsaw’s Mokotów district.