Fosun Closing In On Warsaw Office In €200m Deal

The ever acquisitive Chinese conglomerate Fosun and the UK-based manager Valad are said to be in exclusive talks to buy two office blocks in one of Warsaw's landmarks, Zlote Tarasy at the central station.

Zlote Tarasy which translates as Golden Terraces in English, is made up of a distinctive bubble-shaped 63,500 sq.m. shopping mall connected into a semi-circular office block named Skylight, adjacent to an office tower called Lumen.

The mall consists of 200 shops and restaurants, a hotel and multiplex cinema. The transparent bubble-shaped roof covers the mall's signature central indoor courtyard and is designed for concerts and other events.

The entire complex, which is connected to Warsaw's main station, provides 205,000 sq.m. of space including public areas. The lower-rise Skylight offers 19,525 sq.m. of space, and the high-rise Lumen some 23,500.

Fosun International has been on an aggressive acquisition push in the past few years. In 2014 the Chinese conglomerate bought almost 20% of German Bank BHF. The company also purchased One Chase Manhattan Plaza in New York for $725m. Earlier this year a deal was struck which gave Fosun control of French resort company Club Med.

Valad Europe is owned by Cromwell Property Group a leading Australian property investment and funds management group and listed REIT.







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