K1 in Kraków sold

K1, the tallest office building in Kraków, has been sold. Avison Young provided technical due diligence services to the buyer.

K1, the tallest office building in Kraków, has been sold. The property was acquired from a global investment manager PGIM by FLE, an investment advisor headquartered in Vienna.

K1 is an office complex located in the center of Kraków. The gross leasable area (GLA) of the property amounts to ca. 12,600 sq m. It comprises 20 floors of offices with retail space on the ground floor.

FLE purchased the asset on behalf of FLE SICAV FIS, a real estate fund headquartered in Luxembourg and owning a commercial real estate portfolio in Europe and the US with a value exceeding €2.2 bn. This is the second FLE’s purchase in Poland after acquisition of Wratislavia Center in 2018.

Avison Young provided advisory services to the buyer including technical due diligence services. FLE was also advised by White & Case and TPA.