BPT Optima sells the Moniuszki Tower in Warsaw, Poland, to Catalyst Capital

In an agreement closed on 16 December 2011 the BPT Optima real estate investment fund, managed by BPT Asset Management, has sold an office tower located on Moniuszki Street in Warsaw, Poland, to European asset manager Catalyst Capital.

Constructed in 2002, the Moniuszki Tower is a prominent office building in the center of the Polish capital. The 11,589 sq. m. building currently houses the Polish telecommunications operator
Telekomunikacja Polska S.A (TP SA) and is one of several buildings occupied by the telecom group. The property is set to undergo a complete recommercialization during 2013 when TP SA is expected to relocate to their new campus.

Both parties have agreed not to disclose the transaction value. However, the sale is another important step in the medium-term strategy to refocus and deleverage BPT Optima.

– “Moniuszki Tower is an attractive building with a lot of asset management potential. However, at this stage our focus is on tightening the BPT Optima portfolio and limiting any exposure to
the possible refurbishment risk which will come with the anticipated expiry of the lease term with single tenant TP SA. To that end, we are happy to see the property go to a manager committed to that project”, says Antanas Anskaitis, fund manager for BPT Optima.

The Warsaw office market has seen a positive development over the past year with moderate growth in prime rents and decreasing vacancy as occupier demand remains strong. The trend has resulted in falling yields and increased investor activity.

– “This transaction goes to show that there is buyer interest in the market and exits can be performed not only for core assets. Warsaw is a rising office market in Europe in the middle of an
economy that has been doing relatively well through the financial crisis, and this is attracting a lot of local as well as international attention”, explains Antanas Anskaitis.

BPT Optima intends to continue its divestment strategy in 2012. The fund currently owns five other office buildings in the Polish capital with a total portfolio size of close to 100,000 sq. m. of
prime office space.

For further information, please visit or contact:

  • Antanas Anskaitis, BPT Optima Fund Manager,
  • Bettina Knudsen, Director, Investor Relations & Marketing,, +45 33 69 07 33

Photos of the property are available upon request. Please contact Bettina Knudsen. See contacts above.

Download the full press release in pdf here