In Poland, CA Immo's portfolio includes Poleczki Business Park in Warsaw Courtesy of IMMO

Austrian real estate investor CA Immo Group has completed its acquisition of Europolis, an Austrian firm heavily invested in Central and Southeastern European markets. The latter entity’s property assets have been valued at €1.5 billion.

“The acquisition of Euro-polis has enabled us to consolidate our position as one of Central Europe’s leading real estate companies and raise our profile on the key market of Poland for the long term,” said Bruno Ettenauer, chief executive officer of CA Immo.

Following the acquisition, CA Immo’s portfolio in Poland is now valued at approximately €670 million. It comprises nine office properties, two logistics parks and the under-construction Poleczki Business Park development in Warsaw.

The firms’ regional branch offices will be merged on April 1. In Poland, this will mean the fusion of Europolis Real Estate Asset Management (EREAM) and Mahler Property Services. The resulting subsidiary will be called CA Immo Real Estate Management Poland and it will be headed by Andrzej Mikołajczyk.

“By merging EREAM and Mahler Property Services, we are pooling our expertise in order to be an even more important player on the Polish market in the future. This synergy will produce benefits for both our company and the tenants of our properties,” Mr Mikołajczyk stated. “Being part of a financially robust international group is the best way for us to build our presence on the Polish market.”

CA Immo was established in 1987 and it concentrates on commercial real estate investment in Austria, Germany and Eastern Europe, with a focus on office properties. The acquisition of Europolis has pushed the value of CA Immo’s assets over €5 billion.

The group’s portfolio in Poland now comprises 430,000 sqm of GLA. Notable properties include the Warsaw Financial Center, Saski Point, Saski Crescent and Lipowy Office Park.