The sold office and service buildings are Nowy Alexanderhaus and Twelve. They were valued at 40 million zlotys net and their sale was conducted within two transactions. The first one was the sale of Nowy Alexanderhaus, including the land. In the case of Twelve, it was the sale of rights and duties of the design company. The value of the property was reduced by a loan and burdens of the company, including the loans granted in the Capital Group.
According to the estimates of the Management Board of i2 Development, the payoff of those two transactions, including the repayment of loans, will contribute to the fact the means of the company (after the payoff of the burdens related to the sale) are to increase by not less than 20 million zlotys. We sold other investments in accordance with the assumptions and at due time, as it was evisaged within IPO. The offices were the first commercial investments in our offer, next to numerous residential investments. We are planning the commissioning of three offices – the first one in the second quarter of 2017. We expect further successes basing on our attractive offer of the investments situated in the very heart of the city center of Wrocław – says Marcin Misztal, Vice-President of i2 Development.
The portfolio of i2 Development includes both residential and commercial investments. The building of The Place is to be completed in the first quarter of 2017, whereas the completion of Księcia Witolda (the total usable space amounting to 6200 sq. m) is planned on the second quarter of 2018. The newest investment of the developer is Wielka 27, which is to be the highest office in Wrocław.