Residential Units Offered at Zlota 44

WARSAW, Poland—Amstar and BBI Development said this week that a new offer for purchase of apartment units will be made public on April 15 for Zlota 44, a luxury residential tower designed by renowned architect Daniel Libeskind.

Amstar and BBI purchased the 52-story residential highrise in August 2014. Its construction was completed in 2013.

The 630-foot (192-meter) luxury residential tower, which features 37,000 sq. m of residential area, was showcased at Europe's foremost real estate conference, MIPIM, as the symbol of Poland's economic success and the dynamically growing capital city. The trade show in Cannes was attended by Libeskind, the American architect of Polish origin who designed Zlota 44 and numerous award-winning projects throughout the world.

“We are excited that, together with Amstar, we will provide a living standard and lifestyle that has not been accessible in our market” says Michal Skotnicki, President of BBI Development S.A.

The 52-story tower located in the very center of Warsaw will offer 287 exclusive apartments, with interiors designed by the renowned Woods Bagot. The building will also provide residents with an unmatched level of amenities and services that cannot be found elsewhere in Poland. Residents will have access to a business area, spa and wellness area with a 25-meter pool, gym, private cinema, wine cellar, and reception desk with dedicated concierge services.

“As a thriving city, Warsaw is among the most attractive investment markets in Central and Eastern Europe,” says Jason Lucas, president of Amstar Global Advisers. “We are proud to have the opportunity to complete this building and provide residents with the unequaled living experience they deserve. I strongly believe that Zlota 44 will prove to be Poland's most exclusive and luxurious residence.”

The partners also say that Zlota 44 will serve as a symbol of the 25-year period of economic and social transformation in Poland – one of the fastest growing countries in the CEE region. The re-launch of apartment sales coincides with a new stage in Warsaw's development as the second line of the metro just opened. This included seven new stations, with the central portion in close proximity to Zlota 44.

Poland's capital city is flourishing, attracting an increasing number of global investors, who in the previous year alone invested more than $2.83 billion (EUR 3.1B) in the country. The construction of the second line of the metro is the largest infrastructure investment in Warsaw, with an estimated cost of about $1.08 billion (EUR 1B). This is part of the plan by Warsaw's government to spend more than $6.7 billion (EUR 6.2B) on infrastructure and development by 2020, including the second metro line and revitalization of the city center with projects such as the Museum of Modern Art, which will be located next to Zlota 44.

BBI Development S.A. is a Warsaw-based development company whose investment portfolio includes projects with a unique and prestigious character, located primarily in Warsaw. Amstar is a real estate investment manager that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in select US and international markets.