Carpathian adds property to boost Promenada

CEE property investor Carpathian has acquired Polish company Poldrim and its 5,500 sqm plot of land in Warsaw, along with 2,300 sqm of retail space anchored by a Go Sport unit and 61 parking spaces. Upon the acquisition, Poldrim generated annual net operating income of approximately €395,000, suggesting a yield of approximately 6.4 percent.

The newly acquired plot and retail facility is adjacent to Carpathian’s key retail property, the 55,000-sqm Promenada shopping mall in the district of Praga Północ.

According to SmallCapNews.co.uk, Carpathian described the deal as “strategic acquisition, unlocking marriage value and future asset enhancement and new development opportunities, benefiting the value and liquidity of the larger Promenada project.”

Just curious…what’s “marriage value?”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s