Experts at Colliers International, representatives of the tenant, say this is the first time such a strategy has been employed in Poland. The union will also create the largest contiguous floor plate in central Warsaw, totaling approximately 37,673 sf. Designed by Architecture and developed by Luxembourg-based Accession Fund SICAV, the 12-story building contains 208,820 sf of space and provides state-of-the-art technology, air-conditioning and unfettered views of the downtown's premier park.

"We would like to thank Provident for their commitment to IBC," says Accession Fund Manager Jochen Schnier, adding that the lease brings occupancy in IBC II above 70% occupancy, and is also the largest in Warsaw in 2007. Launched three years ago to invest in commercial properties throughout Central and Eastern Europe, Schnier's firm is being promoted in the Warsaw venture by Munich-based GLL Real Estate Partners and advised by its subsidiary, GLL Asset Management GmbH, a real estate fund management company active in both Europe and the US. Quinlan Private Golub is exclusive advisor to Accession Fund for the development, management and leasing of IBC.

Provident Polska, an affiliate of venerable British financial group Provident Financial PLC, is set to move into the property in late summer. The firm will join a roster of internationally known tenants such as Avon, Eli Lilly, PricewaterhouseCoopers, Samsung and Software AG. Other features of IBC II are an on-site café and underground parking for 122 vehicles.