{"id":1004103302,"date":"2014-09-05T05:14:21","date_gmt":"2014-09-05T13:14:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004103302"},"modified":"2022-12-07T23:20:07","modified_gmt":"2022-12-08T07:20:07","slug":"international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\/","title":{"rendered":"INTERNATIONAL: Amstar Buys Luxury Residential Tower in Warsaw"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/i><\/p>\n

\"Zlota44

Courtesy of Orco Property Group.<\/p><\/div>\n

Warsaw, Poland\u2014Denver-based Amstar Global Advisers recently announced the purchase of Warsaw\u2019s iconic Zlota 44 residential tower in an off-market transaction. Amstar is partnering with Poland-based developer BBI Development to complete the project. The purchase of the 52-story property located in downtown Warsaw marks Amstar\u2019s first venture into Polish territory.<\/p>\n

\u201cAmstar has been monitoring the Polish market for several years due to the country\u2019s well-balanced growth and economic stability,\u201d said Jason Lucas, president, Amstar Global Advisers. \u201cThe off-market acquisition of Zlota 44 was the ideal opportunity to acquire a high-quality project at a significant discount to replacement cost.\u201d Amstar and BBI Development purchased the property from Luxembourg-based Orco Property Group, the tower\u2019s original developer. Jeff Stonger, Amstar vice president, will manage the project in Warsaw, with support from Amstar\u2019s Denver, London, Kiev and Istanbul offices.<\/p>\n

Designed by Polish-born American architect Daniel Libeskind, Zlota 44 is the tallest residential tower in the European Union. The building was named after its pre-World War II address, Zlota (Golden) Street, and is located right in the heart of downtown Warsaw.<\/p>\n

\"zlota_architecture_c_0\"

Courtesy of Orco Property Group.<\/p><\/div>\n

\u201cZlota 44 is a project close to my heart and it has been a true honor to build in my home country\u201d, said Libeskind. \u201cI am confident that the new investors will bring revived energy to successfully complete this project, which has already become a symbol for the future of Warsaw.\u201d<\/p>\n

Construction on the project began back in 2007, but the developer\u2019s financial difficulties delayed its completion. At the end of 2013, the project was deemed a failure and Orco sought to sell the property as quickly as possible.<\/p>\n

Upon completion, Zlota 44 will become Warsaw\u2019s third tallest skyscraper, and will feature 266 luxury residential units, 288 parking spaces, fitness and business centers, cinema, indoor pool, a wine cellar and an observation deck. The premier residential community will also feature 24-hour concierge service and elegant open living spaces with floor-to-ceiling windows and panoramic views of the city.<\/p>\n

Zlota 44 is conveniently located next to the Palace of Culture and Science\u2014Poland\u2019s tallest building\u2014the Golden Terraces shopping and service center, Hotel Intercontinental and the Warsaw Financial Centre, as well as other premier retail, office and fine dining destinations.<\/p>\n

\u201cWe look forward to applying our hands-on development capabilities to complete the project and believe our efforts will establish Zlota 44 as the preeminent residential address in Poland,\u201d said Lucas.<\/p>\n","protected":false},"excerpt":{"rendered":"

Denver-based Amstar Global Advisers has purchased Warsaw\u2019s iconic Zlota 44 residential tower in an off-market transaction.<\/p>\n","protected":false},"author":1335,"featured_media":1004103306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21742],"tags":[],"class_list":["post-1004103302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-latest"],"acf":[],"yoast_head":"\nINTERNATIONAL: Amstar Buys Luxury Residential Tower in Warsaw - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INTERNATIONAL: Amstar Buys Luxury Residential Tower in Warsaw\" \/>\n<meta property=\"og:description\" content=\"Denver-based Amstar Global Advisers has purchased Warsaw\u2019s iconic Zlota 44 residential tower in an off-market transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-09-05T13:14:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T07:20:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/Zlota44-BBI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"948\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"michaelratliff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/\"},\"author\":{\"name\":\"michaelratliff\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e3587e458e21524ccf71ab97d31c045c\"},\"headline\":\"INTERNATIONAL: Amstar Buys Luxury Residential Tower in Warsaw\",\"datePublished\":\"2014-09-05T13:14:21+00:00\",\"dateModified\":\"2022-12-08T07:20:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/\"},\"wordCount\":428,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/09\\\/Zlota44-BBI.jpg\",\"articleSection\":[\"International\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/international-amstar-pays-e63m-for-zlota-44-luxury-residential-tower-in-warsaw\\\/\",\"name\":\"INTERNATIONAL: Amstar Buys Luxury Residential Tower in Warsaw - 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