Having established its first closed-ended fund back in 2013, Capital Park aims to launch a new vehicle on the Warsaw Stock Exchange, this time for its flagship office schemes, Eurocentrum and Royal Wilanów. The scenario, depending on the pace of legislation process, could involve introducing the REIT vehicle to the Polish market. “Our aim would be to establish an income-generating vehicle, which, in time, could become a REIT once the legislation is introduced,” said Marcin Juszczyk, board member of Capital Park responsible for investments. “We’re also in talks with foreign investors, who are interested in this venture and who can attract further individuals and institutional capital,” he said, adding that his company would keep a minority stake in the venture along with its management role.
This planning is taking place as exclusive talks are underway to dispose of the developer’s Eurocentrum office complex, with the field having been narrowed to three potential buyers.
Capital Park has also revealed plans to enter Poland’s residential sector, with its first project likely to go up in Warsaw’s CBD. While refusing to provide any further details on the project as it’s still in the early planning stages, Capital Park revealed that its first built-to-let scheme could go up on a site neighboring the Eurocentrum complex. A hotel component could be included in the project as well.
