Meridian Properties N.V., a REIT type company (Real Estate Investment Trust) that is registered in Netherlands, has announced the plans to conduct an initial public offering as well as plans of their debut on the Stock Exchange in Warsaw. The estimated value of the offer will be around 200 million euro
The company invests and actively manages high quality real- estate assets on rising markets in Europe. The presented offer will consist of the public offer dedicated to the institutional and retail investors in Poland and to institutional investors outside the Poland. The process is about to end in the half of July 2013.
The global coordinator of the company’s offer and the exclusive leader of the demand book will be Citi. Co-managers of the offer will be Erste Bank and Raiffeisen and within the sales consortium Alpha Bank will also be included.
Meridian Properties will be the only REIT company type on the Stock Exchange in Warsaw. The company also plans to use the founds on the strategic diversification of the property portfolio. The company will buy 12 high quality properties in 8 cities in Bulgaria, Czech Republic, Hungary and Romania that include 6 modern office buildings and 6 commercial. The gross leasable office space will be 63 286 square metres. The surface of building is leased in 96 %, based on long term leases. The market value of the property is valued at 238,9 million euro, of which 62 % attributes to the office buildings.
The tenants of office space are companies such as Kraft, Eurohold, Lufthansa, Citibank i Eureko. All these reel estates has been completed in accordance with the concept of sustainable construction.