The complex consists of one 11-story building and one seven-story building and offers about 352,000 square feet of office, a retail area and storage space. It ranks as one of the most state-of-the-art buildings in the country and has an outstanding reputation in terms of sustainability and energy efficiency. Occupancy of the office and retail space is 90%, and tenants include Nokia Siemens Network, Getin Noble Bank, Pekao Bank Hipoteczny and WestLB Bank Polska.
"The acquisition of Horizon Plaza fits perfectly into our investment strategy of generating higher income in core-plus countries," said Union Investment RE Board Member Karl-Joseph Hermanns-Engel. In October 2008, Union Investment acquired a shopping centre in Katowice for $125.8 million for UniImmo Global.
Allan Saundersonis a managing editor of Property Investor Europe and a contributor to GlobeSt.com.Want to continue reading?
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