FFA Real Estate, acting on behalf of the special purpose vehicle MIDOLUX 2, announced the purchase of the historic Młodziejowski Palace, located in the heart of the Old Town in Warsaw. The building at Miodowa 10 provides approx. 6,970 sqm of Class A office space. The seller, who was advised by CBRE in the transaction, was an investment fund managed by PATRIZIA.
The Młodziejowski Palace is a prestigious historic building, built in the 17th century, rebuilt in the 19th century and restored after World War II. In the years 2010-2011 it underwent a major renovation, thanks to which it was transformed into a modern office building.
“Investors are constantly looking for attractive locations and unique projects that guarantee a long-term, safe investment and high returns. Undoubtedly, the Młodziejowski Palace is such a project. This is our third transaction with the seller in recent months, which shows the high liquidity of the Warsaw office market. On the example of the sale of the Młodziejowski Palace, we also see that Poland is constantly attracting new investors from around the world,” Przemysław Łachmaniuk, director in the investment real estate department at CBRE, said.
FFA Real Estate is a member of the FFA Private Bank Group, a leading specialist banking and investment group in the Middle East, operating from Dubai (DIFC) and Beirut. FFA Real Estate is part of the group, dealing with consultancy in the area of real estate located in Europe, whose total value exceeds €200 million.