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Formation of the second key governing firm DEVELON

01.01.2007

Formation of the second key governing firm DEVELON, formation of the second fund QPPH

The investor of the QPPH fund became the Avestus Capital Partners Company (earlier: Quinlan Private). The amount of the capital reached 60 million euros. Strategic focus of the fund was middle and big development projects and investments in the Czech and Slovak Republic, with the investment value of more than 10 million euros per project. In 2007, the list of the projects controlled by the group was extended by the Office Park Nové Butovice (27,548 m²) and Palác Anděl (14,582 m²) in Prague. The group also signed a future sales agreement with the providing of mezzanine financing (forward funding) for the project Factory Office Center (10,000 m²) in Prague.

The development projects portfolio was sprawled out, too. This concerned the Office Park Nové Butovice C (6,989 m²), residential projects Swedish Residence (1,446 m²), Sacre Coeur ׀׀ (9,980 m²) and Malvazinky (5,595 m²) in Prague, Královská vyhlídka (5,204 m²) in Karlove Vary and project Bottova (20,000 m²) in Bratislava. Among the retail business development projects, the group gained the Breda&Weinstein shopping center project (26,000 m²) in Opava and Čestlice Retail Park project (25,000 m²) in Čestlice near Prague.

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