LC Corp will sell four office buildings for EUR 275 million
LC Corp has agreed with international entities on the total sales price of four office properties – in Warsaw, Wrocław and Katowice – at EUR 275 million and is continuing negotiations on a possible transaction, the company announced.
– The Company agreed with international entities investing in commercial real estate on a total sales price of EUR 275 million as a result of negotiations regarding the company’s sale of four office buildings in Poland: the Wola Center building, located in Warsaw at ul. Przyokopowa 33, Wola Retro building, located in Warsaw at ul. Skierniewicka 16/20 (under construction), Retro Office House, located in Wrocław at the intersection of ul. Piłsudskiego and Komandorska, and Silesia Star, located in Katowice at ul. Uniwersytecka 18. – we read in the statement.
As part of the exclusivity granted to the buyers, the parties continue negotiations to agree on the content of the transaction documentation that is satisfactory for both parties.
– Closing of the transaction is not certain and will take place provided that detailed provisions of the agreement are negotiated, in particular regarding the company’s obligations, which will affect the economic result of the transaction and may be the basis for making a decision to finalize it. – we read on.
Earlier, in a delayed confidential information, LC Corp announced that on September 29 this year. concluded a letter of intent with international entities investing in commercial real estate regarding the sale of four office buildings. In the letter of intent, the parties agreed on an indicative total sales price of EUR 280 million, on a no-debt, no-cash basis, which will be subject to adjustments, including: based on findings made during the legal examination.
LC Corp SA controls a group of special purpose development companies implementing residential and commercial investments in the largest cities in the country. The company has been listed on the WSE since 2007.
