Newgate Investment plans to intensify its activities in Central and Eastern Europe.
The company intends to expand its real estate portfolio to include retail, office and warehouse projects.
Another element of the new strategy are changes in the management board and the employment of specialists recognized on the market: Błażej Jurkowski is the new CFO (Financial Director) of the company, and Krystian Modrzejewski will be responsible for the expansion of the portfolio, who will take up the position of CIO (Investment Director) in December this year.
The company's new management board, which, in addition to the new CFO and CIO, will include Anton Grytsenko, the current COO (Director of Operations), will be responsible for implementing the new development strategy. Currently, Newgate Investment manages a portfolio of retail properties with a total area of over 121,000 sq m. sq m (GLA).
"Our new strategy assumes increasing the value of the portfolio by several dozen million euros over the next two years and investing in various sectors of the real estate market. We believe that Central and Eastern Europe, and especially Poland, is a promising market that will increase in value as the global economic situation stabilizes. Currently, we are focusing on searching for projects with specific potential to generate added value in the future and on effective, proactive management of our portfolio, says Anton Grytsenko, COO (operating director) of Newgate Investment."
– The occupancy rate in our 29 properties currently exceeds 99%, which is, on the one hand, the result of good investment decisions and, on the other hand, the care for relationships with our tenants, for whom a partnership approach to business is key. Due to ambitious plans for further development, we have established cooperation with market-recognized professionals who, in the past, have successfully expanded investment portfolios worth many hundreds of millions of Euros - emphasizes Anton Grytsenko.
Błażej Jurkowski, who took over the position of Financial Director, has experience gained in working for both investment funds and real estate developers. He was responsible for managing the companies' finances, as well as obtaining external financing, organizing real estate refinancing, reporting to funds, budgeting and financial controlling.
Krystian Modrzejewski, in turn, is one of the best specialists on the market in building sustainable investment portfolios. His achievements so far include a significant participation in the expansion of the portfolio of one of the leading investors in the sector of parks and other smaller commercial properties in Poland, which during his time increased its value several times and exceeded the threshold of EUR 500 million. Krystian's experience includes searching for favorable investment opportunities, asset and property management and commercialization of projects.
