Project description
and objectives:
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The Polonia Property Fund is a proposed €125 million investment fund that would seek to achieve long-term equity gains through investment in property projects in Poland.
The objective of the Fund is to provide investors with superior returns through investments in property projects (primarily office buildings, warehousing/distribution and retail shopping centres) in Poland. in addition, the Fund would sponsor developments and/or redevelopments resulting in international-standard buildings that are attractive to institutional users and investors.
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Transition impact:
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The transition impact of the project would be most evident in its contribution to the development of sector-focused funds in the region and in introduction of world-class investors to the regional real estate market. The existence of property funds with international investors is a key component in developing a secondary market for property.
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The client:
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AIB Capital Markets p.l.c. (the Fund Manager), a licensed bank, is a wholly owned subsidiary of Allied Irish Bank (AIB) and encompasses its investment banking, treasury and corporate banking activities. Through its asset management division, it manages approximately €700 million of real estate on behalf of discretionary clients in Central Europe. Also, the Fund Manager has established two asset management companies in central Europe and a private equity fund in Poland.
To date, AIB has invested over €900 million in Poland and is the majority owner of a major Polish bank (BZ WBK Bank, formed from the merger in 2001 of WBK Bank and Bank Zachodni ‘BZ’).
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EBRD finance:
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The EBRD’s maximum commitment would be €25 million or 20 per cent of total fund capital (whichever is the lower of the two).
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Total project cost:
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Up to €125 million
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Environmental impact:
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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.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Thomas Mueller, Operation Leader: muellert@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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