C&W markets most of EUR 256m Polish assets

Property adviser Cushman & Wakefield has been appointed by a Polish fund to advise on the sale of 10 of the 12 assets it holds in a EUR 256 mln portfolio. ARKA BZ WBK Property Market fund has decided the eight office assets, a shopping centre and a logistics facility will be liquidated through the sale of shares in the fund’s special purpose vehicles which own the properties or through the direct sale of the properties.

Cushman & Wakefield is to sell the fund's downtown office buildings such as the Red Tower located at 148/150 Piotrkowska Street in £ódŸ and Pasa¿ Pod B³êkitnym S³oñcem at 7 Rynek Street in Wroc³aw, as well as non-central location schemes such as the office building at 67/93 Aleksandrowska Street in £ódŸ and Quattro Forum at 51-53 Legnicka Street in Wroc³aw.

Apart from the eight office buildings, Cushman & Wakefield will also represent the fund in the sale of the Galeria Pod Dêbami shopping centre at 8D Pas³êcka Street in Warsaw and the O¿arów Logistics Centre at 38 Piastowska Street in Bronisze.

Piotr Szmilewski, senior surveyor, Capital Markets Group, Cushman & Wakefield, said: 'It will be the first Polish property portfolio to be sold as single assets or selected sub portfolios. We are also looking for investors who might be willing to buy all the properties on offer. There is now a dearth of attractive investment products in the market and, therefore, we expect considerable interest from foreign and Polish investors'.