AIB property fund invests in Poland

AIB Capital Markets has announced that its Polonia Property Fund has acquired a second regional office building in Poland.

The €30 million property is located in the heart of Krakow and provides over 14,000sq metres of prime commercial office and retail space. The acquisition represents the first major office transaction in Krakow’s central business district. Tenants include Cap Gemini and Fortis Bank.

Michael O’Hara, chief executive of the fund, said the yield on the investment was above current market levels. The fund has invested €400m in commercial property in Poland and Hungary.