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Growth spurt at Europolis – an additional EUR 300 m equity for real estate projects
The following release was published today by Investkredit, 16 November 2004
Investkredit Bank AG and the European Bank for Reconstruction and
Development (EBRD) announce a second investment of EUR 300 m in capital to
Europolis, Investkredit’s real estate company. Europolis is a portfolio of
funds making real estate investments in an increasing number of countries
across the EBRD region.
Investkredit’s contribution will be EUR 225 m, with another EUR 75 m coming
from the EBRD. The two made a similar EUR 300 m investment in 2001.
Under the name E2, Europolis will create a regional portfolio of 15 to 20
property assets. Already active in the new EU member states of central Europe
plus Romania and Croatia, Europolis will expand into Bulgaria, Serbia and
Montenegro, Bosnia-Herzegovina, FYR Macedonia, Ukraine and Russia. Europolis
will acquire, develop and manage a real estate portfolio of first-class
office, logistics and retail properties in capital cities and in regional
centres.
The aim is to develop a property portfolio worth an estimated EUR 1 bn, for
capital gain
and to promote primary and secondary property markets, particularly the
less-developed markets. The investment programme will be governed by a clear
set of investment guidelines including regional diversification criteria. With
this investment Europolis will pursue its pioneer position in commercial real
estate in the region.
“The board of management of Investkredit Bank AG is proud to be working
with the EBRD again as its partner in continuing our successful investment
strategy of recent years. The EBRD’s participation is regarded by Investkredit
and Europolis as a mark of trust and as confirmation of the strategy that has
been pursued in central, eastern and southern Europe for the last seven
years,” said Klaus Gugglberger, member of the board of Investkredit Bank AG.
“The unique geographic reach of this investment fund is of particular
importance to the EBRD,” said Ralph Kinhirt, EBRD’s operations leader for the
E2 deal. “Helping to build the real estate business is an essential part of
the EBRD’s work in promoting the transition of the region to full market
economies.”
In less than seven years, the Europolis Group has grown into one of the most
significant real estate companies in central and eastern Europe, in part
thanks to the momentum the EBRD’s involvement brought to the investment
programme. Europolis has built a high quality portfolio, as confirmed by
numerous national and international prizes. The E1 real estate portfolio
currently contains 21 properties in the Czech Republic, Hungary, Poland,
Croatia and Romania, with a total portfolio value at the end of 2004 estimated
at EUR 900 m. By the end of 2004 – two years earlier than planned – the
committed capital in Europolis Group’s Central European Fund will have been
completely invested. The volume of the E1 portfolio will amount to around EUR
1 bn.
For further infromation please contact:
Alexander Bosak, Europolis Real Estate Asset Management GmbH
Tel.
+43/1/319 72 00-60, a.bosak@europolis.at,
www.europolis.at
Hannah Rieger, Investkredit Bank AG
Tel. +43/1/53 1 35-112, rieger@investkredit.at,
www.investkredit.at
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