Press Release
Luxembourg, 1 March 2016
ORCO PROPERTY GROUP - Disposal of Marki project in Poland
ORCO PROPERTY GROUP (the "Company") announces a disposal of the industrial - logistics project in Marki, near Warsaw, Poland.
The transaction was executed by Company's subsidiary on 29 February 2016 and comprises of a transfer of 36 thousand sqm C class warehouse - logistics facility with the related land plots of app. 193 thousand sqm. The purchase price in an asset deal amounts to EUR 4 million + VAT. Following the repayment of the project credit facility to the financing bank the net proceeds amount to EUR 1.07 million.
The Company decided to dispose of the Marki project in line with its strategy, aimed at exiting of the Polish market.
For more information, visit www.orcogroup.com
