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EUR 300 million for real estate investments in central and eastern Europe
EBRD commitment with Europolis Invest permits a quantum leap in expansion to the region
Investkredit Bank AG and the European Bank for Reconstruction and Development
(EBRD), London, are providing EUR 300 million in capital to Europolis
(Investkredit`s real estate company), a portfolio of funds to make real estate
investments in selected countries in central and eastern Europe, including the
EU accession countries. The EBRD's EUR 105 million equity stake in the
Europolis Group is the Bank's largest investment to date outside the financial
sector. With this investment, Europolis Invest, which is already one of the
largest real-estate investment companies in the candidate countries, will
significantly develop its market position in the coming years.
Europolis Invest manages real estate investment and development in central and
eastern Europe as part of the Investkredit Group (real estate segment). The
present real estate portfolio comprises six properties, including two in
Budapest (City Gate and Info Park Research Centre), one in Prague (Hadovka
Office-Park) and three in Warsaw (Warsaw Towers, Saski Point and Alliance
Logistics Centre). The most important real estate development venture is River
City Prague, an urban redevelopment project on the banks of the River Vltava.
The real estate portfolio currently represents a market value of some EUR 260
million.
Under guidance from the EBRD and Investkredit, Europolis Invest Immobilien
Management GmbH will be responsible for managing the real estate companies in
the region, as well as the development of the portfolio. The target for the
10-year fund is to achieve a volume of around EUR 1 billion within five years
and an attractive return on equity.
The participation of the EBRD is regarded by Investkredit and Europolis Invest
as a mark of trust and as confirmation of the strategy of real estate
commitments in Central and Eastern Europe that has been pursued for the last
four years.
"Through its cooperation with the EBRD, the Investkredit Group has gained an
international financial institution, exclusively active in central and eastern
Europe and the CIS, as a partner for its real estate business, thus creating a
European network in this area", said Wilfried Stadler, CEO of Investkredit
Bank AG. "Strengthened by this strategic investment, the Europolis Group will
expand its successful real estate activities in new markets - for example in
the Baltic States, Bulgaria, Croatia, Romania, Slovakia and Slovenia."
Speaking at a press conference in Vienna, Noreen Doyle, First Vice President
at the EBRD, said this deal provided a new type of vehicle for the EBRD to
invest in its countries of operations. Ms Doyle said the Bank would work
closely with Europolis Invest to develop more projects in the region.
Investkredit Bank AG: Hannah Rieger, Tel. +43/1/53 1 35/112, E-Mail:
rieger@investkredit.at
www.investkredit.at
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