PHN and Hochtief Development Poland have signed a deal which is an example of joint venture model of funds and experience type. The companies will together create an office building by Świętkorzyska 36 St. in Warsaw (PHN Tower). During the search of a partner for the Warsaw located investment, PHN has used the advisory services of Jones Lang LaSalle.
As a PHN Group we want to concentrate on real estate management. Therefore, we've decided to complete big investment projects together with JV partner, which has experience in property developing process. Świętkorzyska project is our key project and we're glad that, thanks to a significant commitment of Company's Team and the help of advisors also from Jones Lang LaSalle, we were able to sing deals with HOCHTIEF Development Poland. We have faith in this investment's success – said Artur Lebiedziński, member of PHN's S.A. Main Board.
We're happy that we were able advise PHN in search of a business partner for the project by Świętokrzyska 36 – comments Rory Mepham, Head of Corporate Finance CEE Department, Jones Lang LaSalle. In this specific case, the deal is signed between an owner of a strategically located real estate with a huge potential and a leading property developer having a significant experience in creation of projects of such scale. The signing of the deal is a confirmation of Jones Lang LaSalle Corporate Finance's competences in the area of creation of joint venture funds and experience type and a growing popularity of this model on Polish real estate market.
Jones Lang LaSalle's task was to create and manage a many stages process of a search for a partner for joint venture model. We've contacted more than a dozen of companies. Key factors in the search were: possession of adequate funds, experience and a local team of specialists for completion of such project. Also important we're the so called 'soft aspects' – similar approach to market and the process of investment's conduct – describes Piotr Piasecki, Associate Director, Corporate Finance CEE, Jones Lang LaSalle.