POLONIA PROPERTY FUND

Location:

Poland

Project number:

27657

Business sector:

Property and tourism

Notice type:

Private

Environmental category:

FI

Target board date:

19 Nov 2002

Status:

Disbursing

PSD disclosed:

16 Oct 2002

Project Description

The Polonia Property Fund (the "Fund") is an existing EUR 101.3 million investment fund that seeks to achieve long-term equity gains through investment in property projects primarily in Poland.
The objective of the Fund is to provide investors with attractive returns through investments in property projects (primarily office buildings and warehousing/distribution centres in Poland). In addition, the Fund has sponsored developments of international-standard buildings that are attractive to institutional users and investors.

Transition Impact

The transition impact of the project is most evident in its contribution to the development of sector-focused funds in the region and in introduction of international 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.

The Client

The General Partner of the Fund is Peakside Polonia Holdings Limited, a wholly owned subsidiary of Peakside Capital. 
Peakside Capital is a mid-sized real estate investment management firm created following a management buyout from Bank of America Merrill Lynch in September 2010. 
Peakside Capital currently manages several real estate funds with investments across Europe and has total gross assets under management of approximately EUR 2 billion.

EBRD Finance

The EBRD’s investment is EUR 20.26 million which is equivalent to 20 per cent of total Fund capital.

Project Cost

EUR 101.3 million.

Environmental Impact

FI. The Fund follows 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

Stefan Aumann
Founding Partner and Head of Asset Management
Bundesplatz 14
6300 Zug
Switzerland
 

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

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Public Information Policy (PIP)

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.