The BZ WBK TFI investment fund is selling the portfolio of the Arka BZ WBK Fundusz Rynku Nieruchomości FIZ closed real estate fund due to the planned liquidation of the latter entity later this year.

Arka BZ WBK Fundusz Rynku Nieruchomości FIZ was established in 2004 and the process of building its portfolio ended three years later. Currently the portfolio controls property worth a total of zł.1.1 billion and the value of its assets amounted to zł.532 million as of October 31, 2011.

The portfolio comprises 12 commercial properties, two developer projects and four plots earmarked for residential development. The schemes include Alfa Centrum in Olsztyn, Trinity Business Park I in Warsaw, Red Tower in Łódź and Alfa Plaza in Gdynia.

Two of the fund’s properties – Ujazdowskie 10 and Jutrzenki Business Park in Warsaw – have already been sold. Cushman & Wakefield is now looking for buyers for 10 of the remaining properties with the other projects expected to be sold directly or with the help of other advisors.

“The properties to be sold are leased to many reputable tenants whose loyalty is the best evidence of the high quality of the offered property portfolio,” Łukasz Maciak, commercial investment director at BZ WBK TFI, said in a statement.

“It will be the first Polish property portfolio to be sold as single assets or selected subportfolios. We are also looking for investors who might be willing to buy all the properties on offer,” stated Piotr Szmilewski, senior surveyor in the capital markets group of Cushman & Wakefield.

“There is a dearth of attractive investment products in the market and, therefore, we expect considerable interest from foreign and Polish investors,” Mr Szmilewski added.