Korean investor Eugene Investment enters Europe’s real estate market
Korean investor Eugene Investment & Securities has marked its entry into Europe with the acquisition of a 10,000sqm office building in Poland from Patrizia. Eugene Investment has paid an undisclosed amount to acquire the FENIKS office building is located in Wola in western Warsaw.
The FENIKS was built in 2012 and is currently 85% leased. Matthias Brodesser, head of transaction management international at Warburg-HIH Invest, said: “FENIKS is strategically located between the traditional central business district and the new financial and service district of Wola. This is precisely where the city is growing together.
“Warsaw is a vibrant market from many angles. This dynamism has a lot parallels that we have seen on evolving Berlin in the past. And this is exactly where we see the city in the next years ahead. We will continue to grow our portfolio here.”
HK Kim, managing director at Eugene Investment & Securities, said: “We see our investment in the Warsaw office market as a proxy for capturing growth in one of EU’s fastest-growing economies.