Capital Park Group: 20 years on the real estate market

by   CIJ News iDesk III
2023-05-24   09:25

More than 140 investment transactions worth PLN 4.25 billion and the development of 320,000 sq. m of space in office, retail, residential and mixed-use projects. Capital Park Group is summing up two decades of activity on the Polish real estate market where it has developed such investments as Norblin Factory, Royal Wilanów, Eurocentrum Office Complex, and the retail park chain Street Mall Vis à Vis. The company is preparing two more projects for development: a residential investment at Polski Hak in Gdańsk and the mixed-use city-creating project Nowy Wełnowiec on post-industrial land in Katowice.

Capital Park Group was established in 2003 on the initiative of Jan Motz, the company’s CEO, and Jerzy Kowalski. It has been active on the property market for 20 years, developing investments throughout Poland. Jan Motz owned Progressive Development Inc. from 1986 to 2001, a construction company operating in the US market

“When Capital Park was founded 20 years ago, I knew that I wanted to implement unconventional projects, change the face of Polish cities, and set new trends that I had observed around the world. Over two decades, we have built a team of experts in the company sharing the same perspective on real estate projects who feel responsible for their investments and go beyond market standards. It is with great satisfaction that I look at the investments we have already made, which are appreciated by their users, city residents and tourists, and which are well known in Europe. We have not yet said the last word: with activities ahead of us, we are going to a new level of treating projects as complete spaces involving the construction of entire neighbourhoods. A very important aspect of our business is the management and animation of our projects, which we have taken to a very high level,” said Jan Motz, Capital Park Group and founder and CEO.

The company’s flagship project, winner of multiple domestic and international awards, is Norblin Factory, a mixed-use complex located in Warsaw’s Wola district. The revitalisation of the former Norblin, Buch Brothers and T. Werner factories was one of the largest and most demanding projects of its kind in Poland, with modern architecture integrated into the historic buildings. As of 2021, Norblin Factory has reopened to the city, offering 2 hectares of developed land with a history dating back two centuries. The complex is distinguished by unique concepts, including BioBazar, the boutique cinema KinoGram, Poland’s largest food zone of 10,000 sq. m with Food Town, waiter-service restaurants, Piano Bar, MOXO restaurant and club, and the recently opened concept Amar Beirut. Norblin Factory is also home to Norblin Factory Museum commemorating the site’s 200-year history, Apple Museum Poland, Poland’s first immersive space Art Box Experience, and Smart Kids Planet entertainment centre. The complex features Poland’s first automatic underground bicycle parking.

Norblin Factory project is not the only revitalisation endeavour completed by Capital Park Group. The company has been involved in other revitalisation and modernisation projects, including the historic tenement houses in Gdańsk now housing Hampton by Hilton Old Town Gdańsk Hotel, Galeria Zaspa in the space of the former Gdańsk-Wrzeszcz airport, and the first shopping mall in Wielkopolska: ETC Swarzędz. Capital Park’s portfolio includes the Royal Wilanów mixed-use project, the Eurocentrum Office Complex, Racławicka Point, new retail developments: Street Mall Vis à Vis convenience retail parks in Warsaw, Radom, Toruń, and Łódź, and the Pałacowa Residences suburban villa estate.

“Behind the success of any company are its people. At Capital Park, we have built a team of 90 professionals who work every day to make our projects stand out with an innovative approach to investment. They are the people behind the implementation of unique spaces for work, shopping and leisure. We place great importance on ensuring that our investments are developed with respect for the environment and contribute to the well-being of local communities. We were one of the first market players to have our buildings certified, and for the past two years we have published a Sustainability Report which summarises the ESG aspects implemented in the projects in addition to financial and business data. As a developer with 20 years of experience, we are a leader in functional solutions for tenants. We have introduced the first free-of-charge concierge services in Warsaw, the Biuro+ concept, the Office Doctor service, and advanced Prop-Tech systems such as multifunctional applications,” said Kinga Nowakowska, Chief Operating Officer and Member of the Management Board of Capital Park Group.

The company is opening the next decade of its operations with new projects and challenges. In Gdańsk, a residential project with a public promenade is in the pipeline on an area of 1.3 hectares at the unique location of the mouth of the Motława River on the Dead Vistula, known as Polski Hak. A powerful mixed-use project is planned in Katowice and Siemianowice Śląskie. An area of 44 hectares, of which 25 hectares are located in the northern part of Katowice, where once operated a steelworks, will be reclaimed, revitalised and returned to the city. It will be home to Nowy Wełnowiec, a mixed-use environmental district with a significant proportion of green space.

“In the near term, we want to focus on stabilising our flagship project, Norblin Factory. We are planning to sell Royal Wilanów investment and finalise acquisitions and joint ventures for already secured investments. We are constantly looking for further attractive real estate projects and new sources of financing,” said Marcin Juszczyk, Management Board Member of Capital Park Group. “Over the two decades of the company’s operation, we have gained extensive experience in raising funds both in public offerings and through private placement. We have raised EUR 1.3 billion from 17 different banks and financial institutions, both domestic and foreign, for our investments. We have raised PLN 136 million in IPOs from individual and institutional investors, and issued bonds on the capital market with a total value of PLN 463 million. We have achieved all the targets we set ourselves during the IPO. We have repaid all issued bonds on time. We have excellent relations with investors,” said Marcin Juszczyk.

The company was floated on the Warsaw Stock Exchange in 2013 in an initial public offering (IPO) worth PLN 136 million. Also in 2013, the Group established the first dividend fund on the Polish real estate market and sold 85% of the its certificates for a total of PLN 64 million.

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