Project summary document

Project description
and objectives:

The Central Europe Property Partners Fund II is a US$ 200 million investment fund that will seek to achieve long-term equity gains through investment in property projects in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia.

The objective of the Fund is to provide investors with risk-adjusted returns through investments in property projects (primarily office buildings, warehousing/distribution and retail shopping centres) in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia. The Fund’s intention is to sponsor developments and/or redevelopments resulting in international-standard buildings that are attractive to institutional users and investors.

Transition impact:

The transition impact of the project would be most evident in its contribution to the development of sector-focused funds in the region. The existence of property funds is a key component in developing a secondary market for property. Another area of transition impact would result from the Fund’s investments to improve and expand the local markets for office space, warehousing/distribution infrastructure and retail facilities.

The client:

Heitman International, a subsidiary of the property advisory firm Heitman Financial Ltd., is organising the fund as a Luxembourg-based investment fund for the purpose of investing in real estate in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia. At present, Heitman International manages in excess of US$ 383 million in assets in Central Europe and has participated in transactions totalling USD 740 million in the Central European region.

EBRD finance:

The EBRD’s maximum commitment would be US$ 40 million or 20 per cent of total fund capital (whichever is the lower of the two). The Bank would commit up to US$ 35 million at the Fund’s closing with total Fund capital of US$ 175 million.

Total project cost:

Up to US$ 200 million

Environmental impact:

The Fund would follow the EBRD's Environmental Procedures for Property Development and Acquisition Funds. In implementing these procedures, the Fund would assess and address, to the EBRD’s satisfaction, potential environmental issues associated with its investments, which are required to comply, at a minimum, with national requirements for environment, health, safety and public consultation.

Technical
cooperation:

None.

For consultant opportunities for projects financed by technical cooperation funds, visit procurement of consultants.

Company contact:

EBRD contact:

Thomas Mueller, Operation Leader: muellert@ebrd.com

Business opportunities:

For business opportunities or procurement, contact the client company.

General enquiries:

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com