Griffin prepares to float its platform
Investment & finance“The company operates on the attractive Polish office real estate market. This is also why we intend to change its legal form to a Polish public joint stock company, meeting REIT requirements when Poland adopts the relevant regulations governing the operation of this type of entity and assuming that the conversion will be beneficial for the company’s shareholders. Griffin Premium RE might therefore become the first Polish REIT listed on the Warsaw Stock Exchange, which would have a diversified portfolio of let properties and would deliver attractive returns for investors,” said Dorota Wysokińska-Kuzdra, CEO of Griffin Premium RE.
Griffin Premium RE was founded in December 2016 through a carve-out of nine existing properties (totalling over 170,000 sqm gla) from a portfolio created and managed by Griffin Real Estate. The properties include six pure-office projects and three mixed-use office and retail buildings, all in prime locations in five of the seven largest Polish cities: Warsaw, Wrocław, Łódź, Kraków and Katowice. The total market value of the properties as at the end of 2016 was app. EUR 514 mln and annualized net operating income as at the end of 2016 was app. EUR 34 mln. Griffin Premium RE plans to regularly pay out app. 65 pct of its funds from operations as a dividend for its shareholders
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