Emira to acquire an interest in Polish property company
JSE-listed Emira Property Fund has entered into a series of agreements with DL Invest Group 1 SCSP – controlled by Dominik Leszczynski – and its wholly-owned subsidiary, DL Invest Group (DL Invest) in terms of which Emira will acquire an effective 25% interest in the issued shares of DL Invest.
Emira has also been granted an option to acquire a further interest in DL Invest which, if exercised, will result in Emira owning 45% of the issued shares of DL Invest.
DL Invest is a Luxembourg-headquartered property company. Through its subsidiaries – collectively the DL Group – it develops and holds logistics centres, mixed-use and office centres and retail parks across Poland.
The DL Group boasts a portfolio of 50 properties valued at about €730-million. Through its internal structure, which includes about 232 employees, the DL Group's business model assumes full implementation of the investment process and actively manages projects as a long-term owner.
Emira says the proposed transaction forms part of Emira's strategy to enhance its international exposure and diversify its investment portfolio.
By co-investing with local partners who share similar objectives, Emira says it aims to capitalise on opportunities within the growing Polish economy.
“This approach allows Emira to mitigate risks and leverage local expertise, while keeping its co-investment methodology in place, resulting in more informed investment decisions and improved returns,” the company says.
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