In effort to diversify its portfolio, the Polish Real Estate Holding (PHN) is set to take over a 5,000 sqm retail property in one of Poland’s regional cities. A letter of intent has already been signed. No further details regarding the deal have been disclosed. The transaction the state-run investor’s fourth acquisition in the past few weeks and its first within the local retail sector under its new strategy.
“We’re intensifying our attempts to restructure the portfolio by acquiring existing, income-generating office assets in an effort to attract new tenants,” said Włodzimierz Stasiak, PHN board member responsible for finances.
In July, PHN completed one of its bigger ever transactions when it took over Andersia Business Center from Von der Heyden Group. The value of the transaction was not disclosed, but the seller revealed that it took six months to finalize the deal. PHN also agreed to take over the project loan from Bank Zachodni. Located in the Poznań city center, Andersia is fully leased. Von der Heyden secured LEED certification for the project in March.
