HEITMAN CENTRAL EUROPE PROPERTY PARTNERS FUND II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 27587

Status Complete

Location

Regional

Business Sector

Real Estate

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 27587

Status Complete

Location

Regional

Business Sector

Real Estate

Notice Type

Private

Environmental Category

Approval Date

22 Oct 2002

Disclosure date

20 Sep 2002

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

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.

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.

Company Contact

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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