First Property Group buys stake in Blue Tower Plaza
Investment & financeschedule 15 November 2013
POLAND UK investor First Property Group has bought a 19.7 pct stake in Blue Tower Plaza (also known as the Blue Skyscraper) on pl. Bankowy in Warsaw, for EUR 5.23 mln.
The seller was PKO Bank Polski. At the same time the company purchased 22.3 pct shares in Corp, the manager of the facility. After this transaction First Property Group holds a total of 48.2 pct shares in the building and 90 pct shares in the facility management company, which allows it to acquire full control over the management of Blue Tower Plaza. EUR 1.7 mln of the price was paid in cash, while the rest is provided by a bank loan of up to the value of the property. First Property Group estim
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