PHN Property Management, a member of Polski Holding Nieruchomości and Polski Holding Hotelowy, signed a 7-year loan agreement with Bank Pekao S.A. to refinance the acquisition of an organized part of the Cosmar Polska company, operating under the trade name "Regent Warsaw Hotel".
PHN Property Management acquired the organized part of Cosmar Polska from the bankruptcy trustee in February 2021 for PLN 130.5 million. The transaction is part of PHN Group's strategy which, in addition to strengthening its market position in the office, residential and warehouse construction segments, also provides for growth in the area of hotel services. It is also part of the PHH Group's strategy which, in addition to the consolidation of hotels owned by the State Treasury, aims at developing cooperation with PHN in the area of project delivery.
“Concluding a loan agreement with Bank Pekao S.A. will allow us to lower the costs of financing this undertaking. It also shows the investment potential of this project and the stable financial situation of the whole PHN Group, as despite the difficult situation on the domestic hotel market we managed to obtain financing from a renowned financial institution, ” said Marcin Mazurek, President of the Management Board of Polski Holding Nieruchomości.
The Regent Hotel, formerly operating under the Hyatt brand, is located in the center of Warsaw, near the Łazienki Park, in the vicinity of main tourist attractions and important business venues. The 5-star hotel has 246 luxury rooms. In October, the Regent Hotel was a partner of the 18th International Chopin Piano Competition.
The legal advisor to PHN Property Management was a renowned law firm Taylor Wessing.
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Polski Holding Nieruchomości Group
The Polski Holding Nieruchomości Group is the leading managing investor in the commercial property market in Poland. It is one of the largest companies in the sector in terms of the market value of its portfolio, which includes ca. 154 properties and ca. 600 ha of land across the country (e.g. in Warsaw, Poznań, Wrocław and the Tri-City). PHN has long experience both in real estate management and construction project implementation. The company has been listed on the Warsaw Stock Exchange since February 2013.
Polski Holding Hotelowy
Polski Holding Hotelowy is a 100% state-owned company whose aim is to consolidate and effectively manage hotel facilities owned by the State Treasury. The PHH Group has a total of 27 hotels and facilities, making it the second largest hotel company in the country and the first with exclusively Polish capital. PHH has a long-standing relationship as a franchisee with the world's leading hotel chains, including Marriott International, Hilton International, Best Western Hotels&Resorts, InterContinental Hotels Group and Louvre Hotels Group.
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Contact:
Polski Holding Nieruchomości S.A.
Magdalena Kacprzak, Head of the Marketing, Strategy, Investor Relations and PR Office
mobile: +48 721 000 071; phone: +48 22 850 91 34; e-mail: magdalena.kacprzak@phnsa.pl
Polski Holding Hotelowy
Magdalena Szefernaker – Press Officer
mobile: +48 662 036 470; e-mail: media@phh.pl
