April 3, 2014 / 11:12 AM / 4 years ago

Deutsche Asset & Wealth buys Warsaw buildings for 300 mln euros

LONDON, April 3 (Reuters) - Deutsche Asset & Wealth Management (DeAWM), the fund arm of Deutsche Bank, said on Thursday it had bought the Rondo One development in Warsaw for 300 million euros ($413.04 million).

Comprising two buildings with 70,000 square meters of office space and 5,000 square meters of retail space, the deal means the company now manages Polish real estate assets worth 850 million euros.

The development “offers high quality Class A office space in a desirable location due to its proximity to five star hotels, Zlote Tarasy, a 65,000 square metre prime retail destination, and its position at the intersection of two of the city’s major thoroughfares,” DeAWM said in a statement. ($1 = 0.7263 Euros) (Reporting by Simon Jessop; editing by Chris Vellacott)

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