PHN Group Is Considering Selling the Property on al. Prymasa Tysiąclecia in Warsaw

Due to investor interest in the purchase of built-up land on al. Prymasa Tysiąclecia in Warsaw, PHN Group is considering its sale. Further decisions concerning the property will depend on the proposed transaction terms and the results of the ongoing investment analysis.

Polski Holding Nieruchomości is continuing the process of in-depth analysis of its property portfolio. A new offer was announced last month, with selected properties assigned for residential rental and for sale. At present, due to interest from potential buyers, the possible sale of the property on al. Prymasa Tysiąclecia in Warsaw will be considered.

“Despite the interest of investors in acquiring this property, it must be stressed that no decisions have yet been made. We are open to different scenarios, so when specific proposals are made, we want to do market research and choose the best way to use this property. It is a legacy investment, and needs to be analysed both as to further costs and profitability. If we decide to sell it, the funds needed for the implementation, as well as the funds obtained from its sale, will be able to be allocated to other projects of the PHN Group,” said Wiesław Malicki, President of the Management Board of Polski Holding Nieruchomości.

After signing non-disclosure agreements, investors who declare their interest in purchasing the land on al. Prymasa Tysiąclecia in Warsaw will be provided with additional documents containing basic information about the property. If PHN makes a potential decision to dispose of the property, a formal sale process will be initiated.

The PHN Group’s portfolio comprises 152 standalone property assets with a market value of approx. PLN 3.5 billion, which makes the company one of the industry leaders in Poland. PHN Group has a diversified business profile and is active in several market sectors, mainly in the office and residential segments. Currently, PHN Group is developing six projects and manages more than 500,000 sqm of leasable space. In terms of planned activities, also as part of the aforementioned analysis, PHN Group is dividing its real estate portfolio into the following four segments: remaining in the portfolio, for optimization, investment projects, and for sale.

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ABOUT THE PHN GROUP

Polski Holding Nieruchomości S.A is one of the largest groups in the Polish commercial property sector in terms of the market value of its portfolio. PHN Group has a diversified business profile – it is primarily active in the office, residential and logistics markets. PHN Group’s portfolio comprises more than 150 standalone properties with a market value of approx. PLN 3.5B. PHN Group provides comprehensive rental and management services – it currently manages more than 500,000 sqm of leasable space. PHN Group owns about 270 hectares of land earmarked for projects in various market segments. PHN Group is also active in the construction sector – by providing general contracting, subcontracting and design services, as well as in the development sector as an investor – by carrying out projects related to the construction and sale of residential units and the construction of commercial buildings. PHN Group’s main market is Poland. PHN’s activities in the rental segment are concentrated primarily in Warsaw and the largest regional cities, including the Tri-City, Poznań, Cracow, Katowice, Łódź and Wrocław. PHN has been listed on the Warsaw Stock Exchange since 13 February 2013.