As a part of an ongoing restructuring plan, IVG will transfer a substantial part of its real estate assets to an undisclosed vehicle. Worth roughly €3m, the portfolio includes strategic projects with the biggest growth potential. No further details were disclosed at this stage, but Dietmar Binkowska, the company’s CEO, assured shareholders that the move aims to restore market credibility to the group. “This will make it possible for us to improve our market position and reposition ourselves against our competitors, making the refinancing process for the portfolio far more efficient,” Binkowska said. The move will also speed up strategic decision-making within the group.
IVG Institutional Funds in Poland was reestablished as the group’s subsidiary in the second quarter of the year. Maciej Zajdel, CEO of IVG in Poland, was removed from the company earlier this year, following a deal with Arese, which took over IVG’s portfolio, including retail and office assets in five countries. Jacek Brzozowski and Grzegorz Fabijaniak are now heading IVG’s Polish team. IVG’s Polish portfolio includes 11 assets in Warsaw and another three in Zabrze, Sosnowiec and Bydgoszcz.
