The seven-story building is on the edge of Wroclaw's city center. It currently has 10 international and domestic tenants, including Nokia, Siemens and BRE bank and is 82% leased. The ground level includes a restaurant and retail space.

Wroclaw is Poland's fourth largest city and one of the country's fastest developing economic centers. The city has a population of approximately 640,000 and continues to develop through the relocation to Wroclaw of a range of blue-chip companies. The building is situated on Wroclaw's main arterial road, offering access to both the city center and its international airport, which are both within 10 minutes of the site.

"This acquisition is further evidence of our strategy of increasing our presence in Poland's regional cities in all asset classes, where we see considerable potential going forward," notes Karim Habra, managing director of GE Real Estate's Central & Eastern Europe business, in a prepared statement. "We are confident that the combination of our professional asset management experience and the building's strong location will position us well to extract further value from the building." Habra explains that the acquisition brings GE Real Estate's total assets under management in the Polish real estate market to $890 million. GE Real Estate's ability to compete the acquisition using 100% equity demonstrates the company's financial strength as well as its ability to complete transactions despite challenging market conditions.