Dentons advises CPI Property Group on the sale of the Moniuszki 1A office building in Warsaw

Dentons has advised CPI Property Group (CPI), a leading owner and manager of commercial real estate portfolios in Central and Eastern Europe, on the sale of the Moniuszki 1A office building in Warsaw to BPI Real Estate Poland, the Belgian developer. The new buyer of the property completed the transaction as part of a joint venture with a long-term investment partner.

Commissioned in 2002, the Moniuszki 1A office building, also known as Moniuszki Tower, is located in the very center of Warsaw. This 20-story building offers approximately 10,000 sq.m. of gross lettable area. The property is distinguished by its excellent location - just a 4-minute walk from the Świętokrzyska metro station, close to the Old Town and just over 1 km from the Railway Central Station.

Currently, most of the office space is leased, and the building will continue to serve its current function, with a long-term plan to convert it into a residential facility through a sustainable adaptation strategy.

This is another transaction involving the Moniuszki 1A office building that Dentons advised on. In March 2020, Dentons' Real Estate team in Warsaw advised CPI on the acquisition of this investment from the Canadian fund Catalyst Capital.

The sale of Moniuszki 1A is another step in implementing CPI's real estate portfolio management strategy, based on regular asset analysis and a focus on office and retail projects with the highest potential for value growth.

The transaction was led by managing counsel Łukasz Zwiercan who was supported by associate Julia Bujkowska. Partner Monika Sitowicz, Deputy Head of Dentons' Real Estate practice in Poland, has supervised the transaction.

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