Penta enters Polish market

Penta Investments made its first acquisition on the Warsaw market, buying a plot at the corner of Domaniewska and Postępu streets. The value of the transaction is being kept confidential, but Penta said earlier it plans to spend nearly €45m on a 24,500 sqm office scheme set to go up on the land. The company said its expects to launch the project in the third quarter of 2015 and that construction would likely take 18 months.

“This recent transaction remains crucial for Penta’s introduction to the Polish market,” said Jozef Oravkin, managing partner at Penta Investments.