Hamilton May is pleased to announce that after extensive negotiations over the past few months we have successfully brokered a high value multi-unit transaction at the prestigious Novum development in the centre of Krakow. Hines, the Houston based multinational real estate developer responsible for the scheme sold a section of the final phase at Rakowicka to a new entrant into the Polish property market NGM, an Israeli boutique investment house owned and managed by Oded Horesh and NGM's German and Polish local management staff.
Commenting upon the successful completion of the transaction Mr Horesh said: “after finalizing a few successful real estate transactions in Germany our strategic decision to invest in the Polish residential market had to be implemented hand in hand with the recommendations of a local, reliable and experienced agency that provides extra added value over and above that of a normal brokerage agency.
We chose Hamilton May as it gave us this valuable consultancy that we were looking for and a business oriented approach.
I am confident that this acquisition, largely financed by the fund's existing equity - ensuring relatively low risk - together with the typical value add that NGM has consistently sought to provide its shareholders, will match the positive financial results we have been striving for and have been delivering to NGM's shareholders in previous transactions”
Ian Daniels, Business Development Manager at Hamilton May, said: “As Krakow continues to develop into a major business and tourism destination so its attractiveness to foreign investment increases. Hamilton May is proud to be able to assist investors like NGM find value opportunities such as Novum which is amongst the leading developments in the centre of Krakow. We look forward to helping other investors and developers achieve their aims as Krakow continues to thrive.“