Azora Europa finalizes purchase of Avatar office building (PL)
Friday 24 December 2010
Azora Europa, a Spanish private equity group, has finally acquired Avatar, new A-class office building in Krakow, for €30 million.
Avatar offers 11,500 m² of prime office space which is solely leased to the BNP Paribas Fortis Bank Polska for 10 years. The property was developed and now sold by Echo Investment.
Avatar is the fourth acquisition of Azora Europa this year in office sector including three buildings in Poland and one property in Prague, Czech Republic. The whole portfolio equals about €110 million.
Azora Europa has been represented by Knight Frank in the acquisition process.