CBRE GI buys Aquarius

Azora sold Aquarius Business House, located in Wrocław, to CBRE Global Investors. Avison Young investment team represented the buyer.

The Spanish Azora Europa I Fund has closed the disposal of Aquarius Business House, office complex in Wrocław, which has been acquired by the international fund – CBRE Global Investors. Avison Young investment team represented the buyer.

Aquarius Business House is a modern office complex, offering over 25,000 s qm of a high-class office space and 410 parking spaces. Major tenants include BNY Mellon, Lux Med, Siemens, City Space and PwC. Due to the central location of the building, tenants can profit from many restaurants and other facilities; moreover, the neighboring shopping center Wroclavia offers a wide range of shops and services.

The sale of Aquarius Business House is another transaction closed in 2019 within the thriving retail and business hub established around the main Wrocław railway station. Average return rates for core properties located in large regional cities still remain higher than those for offices in the city centre of Warsaw, what attracts investors to Wrocław, Kraków, Gdańsk or Poznań.

– comments Michał Ćwikliński, Principal, Managing Director – Poland, Avison Young