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Kulczyk and Silverstein Properties join forces to win CEE real estate market

Aug 5 2011

Polish investment mogul Jan Kulczyk entered into an alliance with the American real estate giant Silverstein Properties, creating a joint venture Kulczyk Silverstein Properties.

KSP has already bought its first real estate - a Warsaw-based office building Stratos Office Center from Pramerica Real Estate Investors for an estimated 35-40 million euros.

KSP intends to build a large real estate portfolio within the next 5-7 years, managing director at KSP Piotr Krawczynski told the daily.

It wants to invest 500 million euros and take loans to have a 1 billion euros portfolio, with properties in Warsaw, Prague, Bratislava, Budapest, Sofia and Bucharest, Krawczynski said.

Source: http://www.warsawvoice.pl/WVpage/pages/article.php/17572/news

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