Octava FIZAN has finalised the acquisition of 11 properties through the purchase of 30 entities owned by the BPH FIZ Sektora Nieruchomości in liquidation and BPH FIZ Sektora Nieruchomości 2 in liquidation. The new owner of the portfolio was represented by real estate advisor Savills.
Disposal of BPH Fundusz Inwestycyjny Zamknięty Sektora Nieruchomości in liquidation and BPH Fundusz Inwestycyjny Zamknięty Sektora Nieruchomości 2 in liquidation, managed by BPH Towarzystwo Funduszy Inwestycyjnych S.A., is a key phase of funds’ liquidation process that started 29th of December, 2015.
The transaction was finalised after the fulfilment of various conditions precedent and after obtaining the approval from the Office of Competition and Consumer Protection. The parties did not reveal the value of the acquired assets.
„It was a very complex process that required large commitment and close cooperation of both sides of the transaction. Important role was played by financial institutions: Aareal Bank, Alior Bank, BZ WBK and Westdeutsche ImmobilienBank”, says Piotr Rymaszewski, President of the Management Board, Octava Asset Management.
Octava FIZAN, a non-public, closed-end investment fund, is a part of the capital group controlled by Elliott Group and Octava S.A. The buyer was advised by Savills and law firms: Magnusson and Dubiński Fabrycki Jeleński.
BPH TFI SA and the acquired SPVs were represented by JLL and Weil, Gotshal and Manges.
