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SEB Buys Local Office for $128M

WARSAW-The investment manager purchased the 350,763-square-foot Trinity Park III building for its mutual fund, which now has 41 properties.

By Allan Saunderson | Updated on March 18, 2010

WARSAW-Frankfurt-based SEB Asset Management, the real estate and securities investment manager of Sweden’s SEB group, has acquired from local Polish developer Ghelamco a Warsaw office building. SEB bought the property for its mutual fund SEB ImmoPortfolio Target Return Fund. The total investment was $128 million.

With rental space of 350,763 square feet, Trinity Park III is a modern office building six floors in height on Ulica Domaniewska, one of the largest commercial streets in the district of Mokotów. It has a U-shaped design and contains three separate foyers. The main tenants are branches of Unilever, Kraft Foods, Teva Pharmaceuticals and MTV Networks.

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