Irish Embassy in Liberty Corner!

Von der Heyden Group, the developer of Liberty Corner, an A class office building in Warsaw recently voted ”Building of the year 2003” by the Polish Association of Civil Engineers and Construction Technicians, the Ministry of Infrastructure and the General Office of Building Control, is pleased to announce the signing of another lease agreement. The Embassy of Ireland has chosen Liberty Corner for it’s headquarters. The lease term is 10 years.

Von der Heyden Group would like to express gratitude to the Ambassador Mrs Thelma M. Doran, and Mr Conleth Brady, Third Secretary for their trust and productive involvement to reach an agreement in record time.

Sven von der Heyden said: “We are very proud to have gained another superb Tenant for our building, as it confirms the highest quality of space and security offered by Liberty Corner. I believe that this transaction will certainly give Liberty Corner the necessary push to fill the building up until summer 2005”. He added: ”it is an honor to house the Embassy of Ireland, in particular given our already existing strong links with the Irish business community in Poland”.

The Lease Agreement was signed on September 9, 2004 and occupancy is scheduled for December 15, 2004. The total leased office space is 672 sqm which represents one full floor.

Visit Liberty Corner on net: www.libertycorner.pl

Von der Heyden Group forms a new partnership to co-own property with GLL-Managed Fund!

Von der Heyden Group (VDHG) announced today that it has formed a new partnership to own and operate the 18 month-old Liberty Corner building in Warsaw’s historic CBD. Although terms were not disclosed, von der Heyden officials said that as part of the new partnership, Luxembourg-based Accession Fund SICAV will own a 50% interest in the project. The two partners will also co-own a plot of land attached to Liberty Corner, where Accession Fund will have an option to participate in the development of Liberty Corner’s phase II together with Von der Heyden Group.

Liberty Corner is a Von der Heyden Group development, an office building with a total gross area of 12.400 mkw, of which some 4.500 mkw were developed for are occupied/owned by the Polish Press Agency (PAP). It was erected with 8 storeys above ground and two underground parking storeys. The ground floor is for retail use, whereas the rest of the building contains office space.

Von der Heyden Group will continue as managing partner of the asset and remains in the partnership as a partner/owner of the approx. 7.500 gross sqm. office building including 2 storeys of underground car parking. Knight Frank will continue as the building’s property manager and leasing agent.

”We are delighted to have gained the trust of Accession Fund and that they especially valued the high-quality, design, construction and finishes of Liberty Corner”, said Sven von der Heyden, Chairman of Von der Heyden Group. He further added ”and we do hope that this transaction is just the start of a longer relationship”.

”This is a first class development in one of the major capital cities in the new, enlarged European Union. Our partnership with VDH Group makes it a perfect combination”, said Barry McGowan, Accession Fund CEO. ”We are extremely happy with the property’s quality and design as well as its excellent tenant roster. I could not be more pleased that we are making this investment”, added Accession Fund’s Chairman, Gerd Kremer.

Accession Fund SICAV is a Luxembourg-based investment vehicle created to invest in property across the so-called Accession Countries in Central Europe. The Fund is offered to international institutional investors and is targeting a total investment volume of Euro1 bn.. The Fund is advised by GLL Asset Management GmbH, a wholly-owned subsidiary of GLL Real Estate Partners GmbH, Munich, Germany.

GLL Real Estate Partners is a Munich and New York based real estate investment management firm, was formed in 2000. GLL sponsors and manages funds, separate account portfolios, in Europe and the U.S. for European institutional investors. GLL sponsored funds own prestigious assets such as Frankfurt’s Messeturm, Morgan Stanley Spain’s Headquarters in Madrid, Marriott International’s headquarters in Washington DC and RFF’s headquarters in Paris. GLL operates through a global real estate network, offering its European investor-clients access to the world’s most important real estate investment markets.

Von Der Heyden Group completed construction of Liberty Corner in Summer 2003. The property is currently 30% leased and houses prestigious tenants such as The Embassy of Ireland, Knight Frank, the Von der Heyden Group, Jaime Mascaró and IVEX, a Spanish government owned trade promotions agency. The owners are planning to reach fully-leased status within the next 12 months.

AIB Polonia Property Fund S.a.r.l. buys the Poznan Financial Centre!

Von der Heyden Group (VDHG) announced today that it has sold one of its 12 Polish purpose companies: Centrum Kongresowe Biurowiec Sp. z o.o. The Poznan based VDHG’s subsidiary owns the first real class A office building ever constructed in the City of Poznan – Poznan Financial Centre (PFC) with its total gross space of 32.000 sqm located in the very city centre. The building is 85 % leased and meets the top requirements of prominent Tenants such as Bank Zachodni WBK S.A., PricewaterhouseCoopers Sp. z o.o., Polkomtel S.A., Dresdner Bank Polska S.A., Arcelor.

The Von der Heyden Group was advised by their trusted agent Knight Frank Poland throughout the entire transaction, which lasted only some record time of 6 weeks from agreeing terms and closing,

Although financial terms were not disclosed, Sven von der Heyden, chairman of the Von der Heyden Group said: ”We are delighted that the Poznan Financial Centre has found an end-investor who was willing to acknowledge the building quality and tenant roster the building enjoys. Our team has worked hard for this day and I am proud of those who have helped to put this deal together”. He stressed further ”We have been holding this great Asset for nearly three years after completion and simply felt that the right moment came to dispose it. We wish the new owners the same luck and enjoyment we have had with PFC and our tenants”.

Adam Trybusz, the Managing Director of the Von der Heyden Group, said: ”The sale of PFC is a great step for our group, strengthens our financial standing and enables us to look for new opportunities in Poland and elsewhere in the region. I have been personally involved in the creation of the building from its infant stage and therefore the disposal is also for me personally a milestone experience.”

Baleares Government pays an entrance fee for IBB Hotels Menorca Besquet!

After the successful of IBB Hotels Menorca Basquest ascend from the second Spanish National  Basketball league LEB to the league of honour, the ACB , also the financial requirements of the Basketball Association have been met by the Government of the Balearic Islands.

One of the requirements to play in the highest national league, the best Basketball League in Europe and second best in the world after the NBA of the United States, is to pay up an entrance fee of Euro 4.500.000 to the National Spanish Basketball Association. This important sum has been paid by the Government of the Baleares in order to secure the place for IBB Hotels Menorca Basquet, a place it deserves as of the next season given the restless support of the local fans and the whole Menorquin society and the tremendous Basketball played.

It was the last day the club was able to come up with the funds, otherwise the place would have possibly been given to two clubs who have either descended or were the runner-up after IBB Hotels Menorca Basquet in the LEB League. In both instances, Bank guarantees had already been deposited with the National Association of Basketball by both teams to secure their place in ACB, in case IBB Hotels Menorca Basquet would have failed to make such payment on time.

At the same time will the Government of the Baleares, the local government of Menorca as well as the Town Hall of Mahón build a new Basketball Stadium with a capacity of not less than 5.000 spectators, another minimum requirement to play in the first league.

On a sad note, this very important contribution of the Government was only possible by reducing the support for the “Illes Baleares” professional cycling team (Indurain etc.) from Euro 7.000.000 to Euro 2.500.000 in 2006.

IBB Hotels want to congratulate the president of Menorca Basquet, Mr José Luis Sintes and his team of having achieved the impossible within only 14 days, since IBB Hotels Menorca Basquet won the last game of the play-offs against Leon and automatically qualified for the ACB League. IBB Hotels is grateful and pround to be strongly connected with Menorca Basquet and it’s the most successful year in the history of the club and Baleares Basketball as such, as never ever a team from the Balearic Island played in the premier league ACB.

IBB Hotels together with its partner Llanera will now enter into the negotiations and talks with the Club with respect to IBB Llanera’s involvement in 2005/2006 and is determined to support the club as in the past.

For more information please click on the following links of the press:

http://www.ultimahora.es/segunda.dba?-1+9+0
http://www.menorca.info/20050615/deportes/1deportes.html
http://www.menorca.info/20050615/deportes/2deportes.html
www.menorcabasquet.com
www.ibbhotels.com

Liberty Corner welcomes New Tenants!

Von der Heyden Group, a pan-European developer of Liberty Corner (joint venture with Accession Fund Holding Beta S.a.r.l. established by Generali Land Lease “GLL”) A+ class office building in Warsaw, is pleased to announce newly signed lease agreements:

1. Deutsche Bank PBC S.A. – a part of Deutsche Bank Group – one of the biggest financial groups in the world. The bank offers financial services of the highest European quality standards both for individual clients and for small and medium enterprises. It operates through 31 branches around Poland as well as via Internet and Call Center (214,5 sqm on the groundfloor);

2. Kolaja & Partners Sp.z o.o,  the consulting company, is a leader in restructuring by interim management and specializes in the coaching of senior managers. The company has been operating on the Polish market for eight years, however till present it was known under the name – CII Group. (790 sqm – the whole 7th floor);

3. Emerging Europe Investors Sp. z o.o., an asset management company which is focused on purchasing and managing distressed assets in Poland (including non-performing loan portfolios) and other illiquid assets. EEI invests together with one of the leading alternative asset managers in the world (126 sqm on the second floor)

Liberty Corner that has won the First Prize in the most prestigious Contest “Budowa Roku 2003” (“Building of the Year 2003) organized by the Polish Association of Civil Engineers & Construction Technicians, the Ministry of Infrastructure and the General Office of Building Control, and “The Best Office Address in Warsaw 2004″Award, is situated in the very centre of Warsaw, at the corner of Mysia and Bracka Street close to the historical Plac Trzech Krzyży. In the immediate vicinity one can find the Warsaw Stock Exchange, international embassies, ministries and other government buildings as well as a Sheraton Hotel.

Liberty Corner was finished in June 2003 and it’s the first office building in Poland designed without structural columns, ensuring extra natural light, and providing more flexibility for the space planning. The building is designed in two independent parts. One section has been sold and serves as the headquarters for the Polish Press Agency (2,500 sqm). The second building is designed as a stand-alone space that is ideally suited for the office seat of an international organization.

Liberty Corner offers a state-of-the-art telecommunications system, 4-pipe air conditioning system with a separate floor by floor regulation as well as possibility of opening windows, and an advanced Building Management System (BMS)- to control and monitor all the engineering services. High standards of finishes including high windows made of Canadian cedar wood, walls finished in highs quality of bottocino marble create the comfort and elegance.

Apart from the above mentioned new leases, Liberty Corner hosts also other prestigious Tenants like: the Embassy of Ireland, Instituto Valenciano de la Exportacion, IVEX S.A., Nicolas Neumann Interiors, Jaime Mascaró, Knight Frank, Von der Heyden Group.
Currently available office space comprises of 2.275 sqm and underground parking places.

“Being already active on the Polish market for more than a decade I am particularly proud and honoured to have Deutsche Bank, the leading German Financial Institution with worldwide recognition in one of our buildings. Deutsche Bank’s concentration on private clients in this prestigious location will further enhance Liberty Corner’s reputation” said Sven von der Heyden, Chairman of Von der Heyden Group.

On the deal with Kolaja & Partners he reiterated “Kolaja & Partners has been convinced from the very beginning to take the very attractive 7 th Floor with a unique interior mezzanine area. We are delighted about the professional and fair approach of Kolaja & Partners and wish them all success to grow their Polish Operations in Liberty Corner”.

Von der Heyden Group has a proven track record of successful commercial developments in Poland over 14 years and enjoys the trust of national and international banks and other financial institutions. The companies comprising the Von der Heyden Group together have completed an investment program in real estate since 1989 valued at well over 135 million Euro.

Hochtief wins the General Contractor’s contract for “Andersia Tower” – the highest building in Poznan!

The total value of the contract is app. Euro 31 million.

After a long lasting and heavily competed tender procedure, Hochtief has managed to reach the finish line just a hair ahead of another reputable European construction company – Strabag.

“As both companies have convinced us both in terms of price and quality, the decision for one of them was probably the most difficult one ever. We want to thank all Construction firms who have dedicated extensive time and efforts to submit a bid: in particular Strabag and Hochtief, who at all times have shown why both companies are leading construction firms in Europe. We wish Hochtief best luck for a timely completion of “Andersia Tower!” – said Sven von der Heyden, Chairman of Von der Heyden Group.

Adam Trybusz – Managing Director of Von der Heyden Group in Poland said: “This tender was very complex and time consuming given the complexity of the building, a more than 18 storey edifice combining Hotel and office functions with fully separate systems. We are happy to now build the second time with Hochtief in Poland after the successful completion of Liberty Corner, however really feel with Strabag, loosing such a tight race  is tough”

“Andersia Tower”
is a joint venture between Von der Heyden Group and the City of Poznan. It is the second phase of Anders Square development after Poznan Financial Centre that was successfully completed in 2001 and sold to AIB Fund in December 2004.

“Andersia Tower” will be a mixed-use development comprising 44,000 sqm of office, hotel, and retail space. The lower floors will be used for a ****deluxe hotel with 172 rooms, suites with an executive floor, retail outlets, restaurants, conference centre and a large banquet & ball room for up to 1.000 people. The hotel will be operated by a Spanish origin operator – IBB Hotels Polska Sp. z o.o.

The upper floors of the “Andersia Tower” will be designated for class “A” office space and the top floor will feature an exclusive restaurant with a terrace on the roof offering superior panoramic view of Poznan from 100 meters above ground. The building will have a swimming pool, a fitness club, saunas and steam baths.

The entire development will be built using state-of-the-art technologies and will conform to the most strict standards of “intelligent” facilities as well as set-up standards performed by Von der Heyden Group in its European projects.

Completion is scheduled for spring 2007.

Investment costs are estimated at approximately Euro 53 million.

Von der Heyden Group has a proven track record of successful commercial developments in Poland over 14 years and enjoys the trust of national and international banks and other financial institutions. The companies comprising the Von der Heyden Group together have completed an investment program in real estate since 1989 valued at well over 135 million Euro.

Andersia Tower – the highest building in Poznan debt financing closed!

Von der Heyden Group, a pan-European investor and developer is pleased to announce to have entered  into a credit agreement with two renowned Polish banks: Pekao S.A. and Kredyt Bank S.A. to finance its flagship mixed-use development in Poznan –” Andersia Tower”.

The total amount of the credit agreement reaches Euro 40 million and will be repaid in 16 years.

As Sven von der Heyden, Chairman of Von der Heyden Group said: “These days developing a hotel in Poland is not an easy task but we are glad that our banking Partners, with whom we have been co-operating partly for many years,  again gave us the trust that an ambitious development such as “Andersia Towers” requires. The Hotel component will be managed by IBB Hotels who already successfully manages another 4 star hotel in Poland, which has also given credibility to the investment. The office component will certainly meet the highest expectations of our future Tenants as all buildings developed by our Group do.”

Adam Trybusz, Managing Director of Von der Heyden Group in Poland said: “Persistence and patience is always rewarded. I have strongly believed in this big project the same I believe in Poland and Poznan, the place where my children have been brought up, Poland – the country of great opportunities.”

“Andersia Tower” is a joint venture between Von der Heyden Group and the City of Poznan. It is the second phase of the Anders Square development and after Poznan Financial Centre was successfully completed in 2001 and sold to AIB Fund in December 2004.

Above-ground construction works of “Andersia Tower” started in September 2005 after a heavily competed tender finally won by a reputable European construction company, Hochtief Polska Sp. z o.o.

“Andersia Tower” will be a mixed-use development comprising 35,000 sqm of office, hotel, and retail space. The lower floors will be used for a ****deluxe hotel with 171 rooms, suites with an executive floor, retail outlets, restaurants, conference centre and a large banquet & ball room for up to 800 people. The hotel will be operated by the Hotel Operator of Spanish origin  – IBB Hotels Polska Sp. z o.o.

The upper floors of the “Andersia Tower” will be designated for class “A” office space and the top floor will feature an exclusive restaurant with a terrace on the roof, offering superior panoramic view of Poznan from 100 meters above ground. The building will have a swimming pool, a fitness club, saunas and steam baths.

The entire development will be built using state-of-the-art technologies and will conform to the most strict standards of “intelligent” facilities as well as set-up standards performed by Von der Heyden Group in its European projects.

Completion is scheduled for spring 2007.

Investment costs are estimated at approximately Euro 53 million.

Von der Heyden Group has a proven track record of successful commercial developments in Poland during 15 years and enjoys the trust of national and international banks and other financial institutions. Since 1989 the companies comprising the Von der Heyden Group have completed an investment program in real estate valued at well over Euro 145 million. In 2005/2006 there are investments under development and/or acquisition in the amount of approximately 75 million EURO in Poznan, Warsaw, Leipzig and Berlin.

Accession Fund SICAV invests in Von der Heyden Group’s top rank project – Liberty Corner in Warsaw!

Von der Heyden Group announced today that it has entered into a share-purchase agreement with Luxembourg-based Accession Fund SICAV – GLL-Managed Fund and sold it’s shareholding in one of its 14 Polish purpose companies: Mysia 5 Sp. z o.o. The VDHG’s subsidiary owns a prominent A+ class office building in Warsaw’s historic CBD. Accession Fund SICAV has been a 50% shareholder in Mysia 5 Sp. z o.o. since October 2004.

Although terms were not disclosed, Sven von der Heyden, von der Heyden Group’s Chairman said that: ‘selling our interest in Liberty Corner has certainly not been an easy decision, people close to us know what the building means to us. However, we are actively investing in several opportunities both in Poland and in Germany, therefore it was a logical consequence to have sold our interest to our partner Accession Fund’.

Adam Trybusz, Von der Heyden Group Managing Director in Poland said: ‘Developers don’t build buildings for themselves as parents don’t bring up children for themselves. We believe the right time to dispose Liberty Corner has come and we always try to be on time’.

‘Liberty Corner is one of the highest quality assets in Warsaw. Its consistent out-performance of the market has proven this out’ said Barry McGowan, Accession Fund CEO. ‘We were very pleased to be able to acquire the remaining 50% from our partner, Von der Heyden Group. We are very pleased with their work at Liberty and plan to continue to work with them on other projects in the future’, added Accession Fund Director, Gerd Kremer.

Von der Heyden Group completed construction of Liberty Corner in Summer 2003. The property is currently 65 % leased and houses prestigious tenants such as the Embassy of Ireland, Deutsche Bank, Knight Frank, Von der Heyden Group, Kolaja & Partners, BZWBK TFI Investment Fund, Jaime Mascaró and IVEX, a Spanish government owned trade promotions agency. The owners are planning to reach fully-leased status within the next 6-12 months. Von der Heyden Group is retained to arrange for the lease up of the property and will also co-operate with external brokers as before.

Liberty Corner 95% rented!

As we informed on November 25th, 2005, Von der Heyden Group sold its shareholding in one of its 14 Polish purpose companies: Mysia 5 Sp. z o.o. – the owner of Liberty Corner in Warsaw to Luxemburg based Accession Fund, managed by GLL Real Estate Partners. Von der Heyden Group has been retained by Accession Fund to arrange for the lease up of the property within 12 months, which has now been achieved within 2 1/2 months only.

We have the great pleasure to announce the following newly signed lease agreements:

1. Bombardier Transportation Polska Sp. z o.o. – the world leader in the production of rolling stock and related equipment as well as business and regional aircraft. The group, which has its head office in Canada, employs 60,000 staff in 21 countries. In Poland, Bombardier operates four production facilities in Katowice, Łódź, Warsaw and Wrocław where rolling stock, traction equipment and railway movement control systems are manufactured. In Poland, the company’s product range includes locomotives, DMUs, EMUs, modern double-decker carriages, trams, movement control systems and traction equipment (210 sqm on the second floor);

2. BZ WBK AIB Towarzystwo Funduszy Inwestycyjnych S.A. – one of the most experienced and recognized players in fund market. It has been present at the market for 8 years now and currently it manages 9 investment funds of total assets value of over 7,7 billion PLN, which is over 12,6% market share (as for the end of December 2005) – (213 sqm on the first floor);

3. Spencer Stuart Poland Sp. z o.o. – the Polish subsidiary of a renowned consulting company present at the market since 1956. Today the firm employs over 300 consultants in 49 offices around the globe. Last fiscal year Spencer Stuart reached over 420 million USD, which represented ca. 15% of revenues’ increase. This result places Spencer Stuart as the number two worldwide in it’s league. In 2005 the firm booked 4300 assignments (290 sqm on the fourth floor);

4. Zara Polska Sp. z o.o. – ZARA belongs to Inditex, one of the largest fashion retail groups worldwide and one of the largest Spanish Companies. Inditex has seven other chains: Kiddy’s Class, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home. The Inditex Group is comprised of over one hundred companies associated with the business of textile design, manufacturing and distribution. The first ZARA shop opened its doors in 1975 in Spain. Now, ZARA has 626 stores in 46 countries. In Poland there are 11 ZARA shops and there will be 16 until the end of 2006. Zara offers the latest trends in international fashion in an environment of thought-out design. Its stores, located in the main commercial areas of cities across Europe, America and Asia, offer fashion inspired in the tastes, wishes and lifestyles of today’s men and women. (430 sqm on the fourth floor)

5. 722 sqm on the fifth floor – rented to an international undisclosed entity operating in facility management field.

Apart from the above mentioned new leases, Liberty Corner hosts also other prestigious Tenants like: the Embassy of Ireland, Instituto Valenciano de la Exportacion, IVEX S.A., Deutsche Bank, Nicolas Neumann Interiors, Jaime Mascaró, Knight Frank, Kolaja & Partners, Emerging Europe Investors and Von der Heyden Group.

“We are particularly proud of our team to have achieved this extraordinary result in less than 3 months. Liberty Corner has certainly shown to be THE benchmark building on the Warsaw office market, both in terms of net rental levels achieved as well as construction quality and care for detail” said Sven von der Heyden, Chairman of Von der Heyden Group.

Adam Trybusz, Managing Director of Von der Heyden Group in Poland said: “The famous dictum for a successful project: “location, location and location” could be transformed here into 3 principles: location + quality + project scale = Liberty Corner”.

Liberty Corner:

Liberty Corner is a Von der Heyden Group development, an office building with a total gross area of 12.400 m², of which some 4.500 m² were developed for and are occupied/owned by the Polish Press Agency (PAP). It was erected with 8 storeys above ground and two underground parking storeys. The ground floor is for retail use, whereas the rest of the building contains office space.

Liberty Corner is situated in the very centre of Warsaw, at the corner of Mysia and Bracka Street close to the historical Plac Trzech Krzyży that completes the street block together with Nowy Swiat, one of the most prestigious streets of Warsaw.

The building has a sandstone façade and is characterized by its high quality technical installations and finishes. Liberty Corner was finished in June 2003 and it is the first office building in Poland designed without structural columns, ensuring extra natural light, and providing more flexibility for the space planning. The building is designed in two independent parts. One section serves as the headquarters for its owner Polish Press Agency. The second building is designed as a stand-alone space that is ideally suited for the office seat of an international organization.

Liberty Corner offers a state-of-the-art telecommunications system, 4-pipe air conditioning system with a separate floor-by-floor regulation as well as a possibility of opening windows, and an advanced Building Management System (BMS)- to control and monitor all the engineering services. High standards of finishes including high windows made of Canadian cedar wood, walls finished in highs quality of bottocino marble create comfort and elegance.

Von der Heyden Group:

Von der Heyden Group, a pan-European developer, was established in 1989. Present in Poland for over 15 years, Von der Heyden Group has a proven track record of successful commercial developments and enjoys trust of national and international banks and other financial institutions.

Since 1989, the Group’s various subsidiaries have developed projects valued at well over € 145 million. In 2006 there are investments under development and/or acquisition in the amount of approximately € 75 million in Poznan, Warsaw, Leipzig and Berlin.

The Von der Heyden Group’s projects have won numerous awards like for example:

Liberty Corner: “Building of the Year 2003”, first Prize in the most prestigious contest “Budowa Roku 2003” organized by the Polish Association of Civil Engineers and Construction Technicians, the Ministry of Infrastructure and the General Office of Building Control, “Golden Drill 2004”, “The Best Office Address in Warsaw 2004”, “The Best Partner in Business 2004” in the category “The Best Office Buidling”.

Grand Hotel Lublinianka: “Kryształowa Cegła 2001” (“Crystal Brick 2001”), “Best Overall Development 2002”, “Laur Konserwatorski 2003”, “Zabytek Zadbany 2003”.

Poznań Financial Centre: 2nd Prize in a contest “Building of the Year 2000”, 1st Prize “Intelligent Building 2001”, 1st Prize in the architectural contest Jan Babtysta Quadro, “The Best Office Address 2004”.

For more information on Von der Heyden Group please visit our web sites:
www.vdhgroup.com
www.libertycorner.pl
www.pfc.pl
www.andersia.pl
www.lublinianka.com

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Liberty Corner rented

Refinancing for Grand Hotel Lublinianka

On 24th of February 2006 Lublin Grand Hotel Sp. z o.o. – one of the Von der Heyden Group companies established to realize the “Grand Hotel Lublinianka” project – has refinanced it’s loan in Millennium Bank S.A. with a new loan granted by Bank Zachodni WBK S.A.

The loan Agreement between Lublin Grand Hotel Sp. z o.o. and Bank Millennium S.A. was concluded in the year 2000. During the five year period a lot of changes connected with the project and it’s environment took place, what encouraged the Management Board of the Company to work out a new conception of the project financing.

From among all banks invited to co-operation, the best offer was made by Bank Zachodni WBK S.A. The agreement is concluded for the period of eleven years.

Von der Heyden Group thanks Millennium Bank for the five years of cooperation and enormous equity contributions by its shareholders, which allowed to restore splendor of this historical building and re-open this magnificent hotel in the City of Lublin.

Liberty Corner and Grand Hotel Lublinianka nominated to CEE Property Awards: ‘1989 – 2006 The Best of the Best’ !

It is our great pleasure to inform that Von der Heyden Group’s projects: Liberty Corner and Grand Hotel Lublinianka have taken part in CEPIF and International Herald Tribune CEE Property Awards: ‘1989 — 2006 The Best of the Best’ for the CEE Region’s best developments and have just been nominated for a short list to win the above mentioned awards in two categories: “Best CEE Office Development” and “Best CEE Hotel Development”.

The winners will be announced at the CEPIF Gala Party in the evening on May 11, 2006 and in the International Herald Tribune.

Von der Heyden Group invests in the heart of Gdansk Old Town!

It is our great pleasure to announce that after Grand Hotel Lublinianka in Lublin and Andersia Tower in Poznan, Von der Heyden Group has started its new 4 star hotel development in Poland: Dlugi Targ Hotel Project in Gdansk.

The von der Heyden Group took part and has won a complex tender organized by Millenium Bank and acquired a prestigious property at the corner of historical Dlugi Targ Boulevard and Mieszczanska Street, almost opposite to the well known Neptun’s Statue and the Dwor Artusa building.

The newly owned property is one of the most attractive buildings in the exceptional tourist part of Gdansk. It consists of three semidetached historical city houses with three different historically renovated and well preserved frontal elevations. Von der Heyden Group plans to convert the buildings into a 4 Star Deluxe boutique Hotel, after a thorough refurbishment which is planned to start in autumn of 2006 and will last until winter 2007. The total area is approximately 2.500 m2.

The hotel rooms are planned to be located on four floors, many of them facing the vibrant life and streams of tourists on the Dlugi Targ Boulevard. In order to obtain the required space for a banquet and event hall and additional hotel rooms, the southern wing of the building will be extended. The objective is to obtain a homogenous impression with the front part of the building, in close co-operation with the city conservator of monuments. The building will be renovated to keep its charm and historical character.

Sven von der Heyden, Von der Heyden Group Chairman said: “This is one of our most beautiful acquisitions for years and we are convinced more than ever, especially in a fierce competitive environment, that only location counts. Within Gdansk, the location can hardly be beaten and we are certain that this enterprise, even though below the average of our usual transaction size, will turn into a financial success story.”

Adam Trybusz, Von der Heyden Group Managing Director for Poland added: “We will develop a hotel where tourists will feel as if they were in the best hotel in Amsterdam old-town. The atmosphere, architecture and the service, all will make them travel to Gdansk instead of Amsterdam and our aim is that Gdansk has no vacant hotel rooms.”

When ready, the luxury hotel will offer international services standards for business travelers & tourists. For guests’ disposal there will be 44 spacious, well designed rooms and suites, an exquisite restaurant with 45 seats, a banquet & event hall (350 m2) and various fitness facilities.

The Hotel will be managed by the Spanish hotel chain IBB Hotels. Since 2003, this will be the third hotel run by IBB Hotels in Poland, after the successful management of the Grand Hotel Lublinianka and the launch of Andersia Tower Hotel in Poznań in spring 2007.

Estimated market value upon completion: app. Euro 7,5 mln

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Von der Heyden Group invests in the heart of Gdansk Old Town