PHN and PKO Bank Polski Have Reached an Agreement Regarding the Lease of the SKYSAWA Complex

PHN and PKO Bank Polski have worked out a mutually satisfactory agreement regarding the lease of the SKYSAWA office complex by PKO BP. The purpose of the talks was to settle the finishing works as part of the SKYSAWA investment.

Last Friday, 13 September, an agreement was signed, under which PHN and PKO BP completed negotiations on mutual settlements. Developing an optimal solution will enable the use of the entire complex and form the basis for good, stable cooperation between PHN and PKO Bank Polski for the coming years.

“There was willingness on both sides to hold talks and cooperate, a common desire to develop a reasonable model for using the SKYSAWA complex and, what is equally important, to close the settlements of related receivables. PKO Bank Polski is one of our key tenants, but also an important and reliable partner, which is why finding a solution and reaching an agreement was one of PHN’s priorities, as well as for me personally. Our talks allowed to work out a solution to this unnecessary situation, but, above all, they were the starting point for further, broader cooperation,” said Wiesław Malicki, President of the Management Board of Polski Holding Nieruchomości.

“After several months of intensive talks, the new management boards of PKO BP and PHN reached an agreement satisfactory both in financial and legal terms, as well as in terms of business relations. Both parties have shown determination to work them out on equal footing,” said Szymon Midera, President of the Management Board of PKO Bank Polski. And he added: “We conducted the talks in an atmosphere of mutual respect and openness. We value the competence of the holding’s management board. This opens up the prospect of good cooperation in the future”.

The agreement will have a positive impact on PHN Group’s liquidity position, increase its ability to continue to obtain financing, and create development opportunities through the implementation of further investment projects. It also paves the way for broader cooperation between the two companies, enabling a friendly, partner analysis of specific areas of activities.

SKYSAWA is the flagship investment of Polski Holding Nieruchomości, the construction of which was completed in June 2022. The entire complex has been leased by PKO Bank Polski. The key asset of the project is its excellent location in the very center of the capital. SKYSAWA is one of Warsaw’s few buildings with a direct connection to the Rondo ONZ metro station.

The complex has the highest possible rating (Outstanding) of BREEAM environmental certification. SKYSAWA has been nominated twice in the BREEAM Awards competition – an international competition aimed at selecting projects that set new standards in the field of environmentally friendly solutions and sustainable construction. SKYSAWA can also boast nominations in competitions such as Eurobuild Awards and Property Prize. The complex received the SARP Award of the Year 2023 in the “Sustainable Development and Certified Buildings” category in the competition of the Association of Polish Architects (SARP) and the title of “Construction of the Year 2022”.

***

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.