May 2015

Van der Vorm Vastgoed Groep investing in Poland

Van der Vorm Vastgoed Groep has signed a cooperation agreement with Acteeum Group for participation in the first Acteeum development portfolio of shopping centers in Poland.

Acteeum Group's portfolio consists of participations in projects with major international developers and investors. In addition to Van der Vorm Vastgoed Groep , other domestic and foreign private investors also participate in this joint venture. Investment volumes are not disclosed.

Arne Bongenaar, managing director of Acteeum Group, is pleased with the partnership: 'These participations indicate that interest in Polish real estate remains strong in the Netherlands as well. We can therefore continue to grow with our dominant projects in medium-sized cities. Interest from both tenants and end investors for these projects is high. There is still room in Poland for about 20 of these projects and we want to develop at least 5 of them.'

The first project in the development portfolio concerns the 20,000-square-meter Vivo Stalowa Wola, a shopping center project that is under construction and scheduled for completion in October 2015. In time, a large construction market and a retail park will rise next to the shopping center, bringing the total project to 32,500 sqm.
Land has been purchased for the second project, the 21,800 sq. m. Vivo Krosno. Work is now underway on the building permit. Completion is scheduled for spring 2017. A Leroy Merlin hardware store will be built near the shopping center.
Several other projects are in the preparation and option phase, with no binding contracts signed at this time.

Sico van Ammers, Managing Director of Van der Vorm Vastgoed Groep: 'Acteeum offers us the opportunity to participate in building retail infrastructure in Polish provincial towns. The centers dominant in the region have a healthy base with a large catchment area and good infrastructure.'

Acteeum will soon present a number of new investment opportunities to interested investors. These include a combination of existing shopping centers and centers under development. In addition, a portfolio of existing shopping centers with redevelopment potential is under preparation. With the shopping centers Ogrody in Elblag (from 17,000 sqm to over 40,000 sqm) and Sarni Stok in Bielsko Biala (from 30,000 to 33,000 sqm), Acteeum has now gained extensive experience with inner-city expansion. These two shopping centers are owned by CBRE Global Investors. This market segment will dominate the Polish retail market in the coming years, according to Acteeum.