Ghelamco signed an agreement with Polimex-Mostostal to take over a 1,000 sqm plot in a deal worth more than PLN 10m. Located on Elektryczna street in Warsaw’s Powiśle district, the property includes an existing building worth PLN 5.6m.
The transaction is a part of Polimex-Mostostal’s restructuring process. The troubled Polish builder needs to offload a substantial part of its key assets, including shares, subsidiaries and its real estate portfolio. Under an agreement with its creditors, Polimex needs to raise more than PLN 600m by the end of 2015. It has already collected PLN 410m.
