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Poland’s EPP to sell off all office assets

PRETORIA – EPP, the listed dominant retail property owner and developer in Poland, plans to sell all of its office assets by 2020 together with some non-core retail assets to fund its planned developments.

Hadley Dean, the chief executive of EPP, said on Friday that the firm might also consider selling minority interests in some of its core retail portfolio to fund its developments.

Dean added that from a liquidity perspective EPP had secured sufficient funding until the end of next year, but going to the equity markets now to raise funding could be quite punitive if they were raising equity at 9 percent and selling assets at 5.5 percent.

 

Source: iol.co.za

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