Elbfonds, a German development and investment company, revealed this week it is planning to open a new fund on the Polish market. The portfolio will include all the retail centers the company has built in the country in recent years. “We’re already in talks with lenders, who will help us to attract foreign investors,” said Stephan Groht, CEO of Elbonds. He added, however, that he has no plans to debut the new vehicle on the stock market.
The fund will offer dividends from the rental income generated from Elbfonds’ Polish retail centers, as well as from individual sell-offs of those assets. “We’re interested in exiting these investments, but only if we get a fair price. If not, we’ll create another fund,” said Groht, adding that as long as Polish malls are in its portfolio, Elbfonds will continue to manage them.
