We Build The Future
KSP focuses on Central and Eastern Europe, one of the world s most dynamic and promising regions PROFILE Core Markets Secondary Markets Kulczyk Silverstein Properties (KSP) is a privately held, international real estate development, investment and management firm based in Warsaw. Czech Republic Poland Slovakia Moldavia Ukraine Founded in 2010 as a joint venture between Kulczyk Real Estate Holding (KREH) and Silverstein Properties, Inc. (SPI), KSP acquires and develops office, retail and mixed-use properties in Central and Eastern Europe. It should be noted that both shareholders are not constrained by time and may extend the timing of the public listing if certain capital market conditions are not met at the envisaged time. Hungary Slovenia Croatia Romania Bulgaria The shareholders of KSP have developed, owned and managed more than 3.25 million square meters of commercial, hospitality, residential and retail space across the U.S. and CEE. KSP s investment objective is to acquire and develop a portfolio of prime commercial properties in CEE with a combined target equity value of 500 million over a five-year period. The exit strategy is to list the asset holding company on an international stock exchange. KSP s shareholders are committed to providing the initial equity required to secure assets and at the appropriate stage seek third party investors for equity partnerships. These investment opportunities are offered on a deal by deal basis, sub-portfolio, agreeing on a defined investment strategy with partners to pursue certain transaction types with the third party investor having discretion on each transaction, or an investment in the whole portfolio.
Jan Kulczyk and Larry Silverstein: Expertise, determination, dynamism, and an enduring passion for new challenges THE SHAREHOLDERS Kulczyk Silverstein Properties (KSP) represents the partnership of two world-renowned companies. Kulczyk Investments Kulczyk Investments (KI), the parent company of KREH, is an international conglomerate that focuses on investment opportunities in global emerging markets. Founded by Dr. Jan Kulczyk, KI s main investments are in brewery, oil and gas, energy and infrastructure as well as real estate which total 4 billion in net assets. KI s international expertise and influence in the Central and Eastern European region provides off-market opportunities to KSP. KI is an active financial investor whose partnership approach has led to long-term alliances with strategic and financial partners including SABMiller, Volkswagen, Strabag, France Telecom, Calyon Bank, Commerzbank, and KBC Group. Visit KulczykInvestments.com for more information. Silverstein Properties, Inc. Silverstein Properties, Inc. (SPI) is a full-service real estate investment, management and development firm founded by Larry Silverstein. Based in New York, the firm s current portfolio includes 850,000 square meters of commercial and residential properties. SPI has $10 billion of planned developments including three new skyscrapers at the World Trade Center in New York City and two Four Seasons projects -- in Downtown New York and Walt Disney World Resort in Orlando, Florida. SPI s core business model is to develop first-class projects, reposition value-add assets, and provide superior services that enhance value for investors and quality of life for tenants. Visit SilversteinProperties.com for more information.
KSP PORTFOLIO: WARSAW OFFICES In March 2013, KSP acquired Holland Park in the prominent area of Three Crosses Square. A major renovation program and building extension is currently underway to reposition the property. KSP acquired its first asset, Stratos Office Center in 2011 and continues to invest capital improvements into the building. Stratos HollandOffice Park Center Holland Park Stratos Office Center Holland Park is a 6-story office building located in a prime area of Warsaw CBD Three Crosses Square in the close vicinity of the Warsaw Stock Exchange, Sheraton Hotel, Polish Parliament, Governmental buildings and is a part of the city s Royal Route. An eight-story office building completed in 2000, Stratos is located in the Embassy District in Warsaw s CBD. In 2011, KSP purchased the building from Pramerica Real Estate Investors. Currently, total office space of the building amounts to 10,416 square meters. The building comprises 1,418 square meters of retail space as well as 108 underground and surface parking spaces. Stratos Office Center KSP intends to refurbish, extend and reposition Holland Park. The main repositioning feature of the building will be the reconfiguration of the ground floor retail which will almost double its current size and will amount to approximately 2,500 square meters. The works will include BREEAM certification for the existing building and the new build extension. Developed by Vienna-based Karimpol AG, Stratos includes 169 parking spaces across three underground levels. Currently, the building is fully leased. Its largest tenant, BRE Leasing - Poland s third largest leasing provider and a member of the Commerzbank Group - occupies nearly half of the space. Since KSP s acquisition, the property has underwent an extensive repositioning including a new lobby commensurate of a trophy building, new exterior signage, and other exterior enhancements which improved the property s appeal. KSP plans to invest additional capital improvements into the property throughout 2013 and 2014.
KSP PORTFOLIO: WARSAW OFFICES In 2012, KSP acquired Plac Malachowskiego and Mazowiecka 2/4. Both buildings are located in Warsaw s Central Business District and are undergoing major renovations to reposition the properties. Plac Malachowskiego Mazowiecka 2/4 Plac Malachowskiego A seven-story building designed in 1910 by Jan Heurich, a famous Polish architect. The property is listed in the Register of Historic Monuments. KSP plans to upgrade the existing historic building with 5,020 square meters of Class A office space and retail as well as develop a new adjoining structure with 8,113 square meters of additional office space, retail, storage and below-grade parking for 100 cars. The property will be equipped with a modern infrastructure raised floors, HVAC system, air conditioning, suspended ceilings, and BMS and will be certified with BREEAM assesment rating. The project is expected to be completed in Summer 2014. Mazowiecka 2/4 The building is situated in a prestigious location within Warsaw s CBD and provides excellent access to public transportation including metro, bus and tram lines. Mazowiecka 2/4 includes 2,265 square meters of office space, 766 square meters of retail and 24 parking spaces. It has 8 floors above grade and 3 below grade. KSP s renovation plans for the property include upgrading the office spaces to Class A status, modernizing elevator cabs, and equipping the building with HVAC, air-conditioning, suspended ceilings, raised floors, smoke detectors and operable windows. The renovation is expected to be completed by Fall 2013.
World Trade Center: An unprecedented merging of architectural talents to create a grand urban center for 21st-century New York SPI PROJECT: URBAN DEVELOPMENT World Trade Center: SPI is responsible for developing 2, 3 and 4 World Trade Center, which encompass 882,578 square meters. It is one of the largest redevelopment projects in the United States. After the destruction of the WTC on September 11th, 2011, a master plan was selected that acknowledged the memory of those lost and looked to the future with a new center of business that would be the most sustainable and secure mixed-use project in the United States. Upon completion, the 6.5 hectares site will include a memorial and museum, transit hub, parking, new streets and sidewalks, 46,451 square meters of retail, performing arts center, and five new skyscrapers. This $20 billion program involves multiple public and private stakeholders. SPI is responsible for developing 2, 3, and 4 WTC, totaling 882,578 square meters. Integrating the site s overlapping infrastructure elements into the office towers and retail required SPI to work on the many elements associated with this project. In September 2006, conceptual designs were unveiled for the new office towers each designed by a Pritzker-prize winning architect: Norman Foster, Richard Rogers and Fumihiko Maki.The designs for the three towers were completed in 2008. In 2013, 4 WTC will be completed, followed by 3 WTC in 2016 and 2 WTC in 2018. The towers will be LEED-Gold certified. Life-safety enhancements will include a blast resistant enclosure and reinforced concrete building core.
Chmielna Tower Krucza House Warta Tower Ufficio Primo KREH PROJECTS: OFFICE PROPERTIES & DEVELOPMENT Chmielna Tower Warta Tower KREH intends to develop a new office building, Chmielna Tower, located in Warsaw CBD. It will include retail space and an underground parking facility. Acquired by KREH, Warta Tower is located in Warsaw CBD along Aleje Jerozolimskie. It is adjacent to the Chmielna Tower development site. The office tower will offer convenient transportation access. The City is in the process of creating an express train from Chmielna Station to the airport, thereby allowing increased accessibility for commuters. The building consists of 20 floors totaling 28,000 square meters. Rising 82 meters, it is one of the largest buildings in Warsaw. The property features an extraordinary atrium with adjoining gardens. Krucza House Ufficio Primo Krucza House was erected in the 1950 s as a 6-story office building in one of Warsaw s most prestigious neighborhoods that include government agencies, embassies as well as the Prime Minister s Office and Belvedere Palace. Ufficio Primo is a 6-story, 6,000 square meter Class A office redevelopment that was recently under construction by KREH. Acquired by KREH, the property totals 6,300 square meters including ground floor retail. Recently modernized, it boasts a grand lobby adorned with paintings from renowned artist Leon Tarasewicz. The building is of post-war architecture and was designed in 1952 by Professor Marek Leykam, a prominent Polish architect and art historian. The center of the building is a full-height grand hall with a dome of glazed skylights. The two subterranean floors serve as a Congress Center with a gross area of 1,000 square meters.
SPI PROJECTS: RESIDENTIAL & HOTEL Silver Towers & River Place Silver Towers & River Place Four Seasons Hotel & Residences Downtown NY In 1984, SPI first envisioned the potential to transform Midtown Manhattan s far west side from an industrial area into a thriving residential neighborhood when the firm purchased the site on 42nd Street. After working with the City of New York, the area s zoning laws were altered to permit residential development. In 2001, SPI spearheaded development with River Place, a 40-story, 921-unit tower followed by Silver Towers in 2010. Silver Towers is a 111,400-square-meter building with 1,359 units. The project includes a public park and designates 20% of the units for low- and middle-income families, making it one of the city s largest affordable housing complexes. Four Seasons Orlando at Walt Disney World Four Seasons Resort Orlando at Walt Disney World SPI and Four Seasons Hotels and Resorts are developing a world-class resort consisting of a new Four Seasons Resort and a renovation of the Osprey Ridge Golf Course. It is the first five-star hotel in Walt Disney World and the largest Four Seasons resort in the world. Centrally located between Epcot and Magic Kingdom, the 444-key luxury resort is an enclave within the Disney-owned Golden Oak residential community. The resort will feature several restaurants, meeting and banquet facilities, a fitness center and luxury spa, recreational activity centers for children, swimming pools, and an 18-hole championship golf course. It will open by Summer 2014. Four Seasons Hotel & Residences, Downtown, NY SPI and Four Seasons Hotels and Resorts have commenced the pre-development work to construct Downtown New York s first five star hotel with private residences that will be managed by Four Seasons. Designed by architect Robert A.M. Stern, the tower will be among the city s tallest at 286 meters. Designed according to LEED guidelines, the elegant building combines a 185room hotel with 151 luxury condominiums known as 30 Park Place. The project is expected to open in 2016.
7 WTC Warta Tower NOTABLE TENANTS KSP and its shareholders properties are home to some of the world s largest financial, legal, governmental and professional service institutions, including: Stratos Ufficio Primo Ameriprise Financial Attorney General of the State of New York Banco Popular Bank Hapoalim Bank Pekao Belgian Embassy BRE Leasing Brown Brothers Harriman Cornell University Drinker Biddle ExxonMobil Kramer Levin Naftalis & Frankel Kredyt Bank Kulczyk Investments Moody s Investor Service Norway Embassy Portigon QVT Financial Spear Leads Kellogg (a division of Goldman Sachs) The Royal Bank of Scotland Group Warta Insurance Company WilmerHale
Edgar Rosenmayr KSP LEADERSHIP Edgar Rosenmayr Piotr M. Krawczynski Managing Director, Board Member at Kulczyk Silverstein Properties Joined Kulczyk Group in September 2010 Former Member of the Board of Immoeast AG (2008-2010) and, before, starting from late 2004, head of the company s Asset Management Division Director for Property, Tourism and Shipping at the European Bank for Reconstruction and Development (EBRD), London Numerous Board positions with real estate companies including TriGranit, IRIDE, European Property Group and St. Petersburg Property Development Company Held positions on Investment Committees of various real estate investment funds e.g. Europolis Invest (Austria) and Polonia Property Fund (Guernsey) Previously worked for Creditanstalt Group and held various positions including Assistant General Manager, Head of Project Finance and Consulting Department Former Managing Director of CA-Consult International, a Corporate Finance and M&A boutique owned by Creditanstalt (1991 1996) Assistant Professor and Lecturer at the University of Economics in Vienna (1980 1998) Postgraduate Executive PhD in Mathematics and Doctor s Degree in Technical Sciences both from the Technical University in Vienna, Additionally licensed as a Chartered Management Consultant Piotr M. Krawczynski Managing Director, Board Member at Kulczyk Silverstein Properties General Manager at Kulczyk Real Estate Holding Polish Branch (2009 Present) Former Investment Director at Kulczyk Holding (2005 2009) Previously worked as Deputy Director of Ownership Supervision Department at Kulczyk Holding (2002 2005) Held position of Investment Analyst at Kulczyk Holding (1998 2002) Underwent intern in Chase Manhattan Bank in London (1998) Financial Analyst, Chase Fund Management Polska (1996 1998) Over 13 years of experience in supervising M&A transactions and managing portfolio companies Chairman of a number of Supervisory Boards of a number of various investment, real estate and other industries companies, including Warta TFI, Warta Life and Cammedia Postgraduate Executive Studies in Finance provided by Ernst&Young and Warsaw School of Economics (2004 2006) Doctoral Studies from Warsaw School of Economics. Warsaw Collegium of World Economy (1998 2000) Holds Master s Degree from Warsaw University of Technology, Faculty of Production Engineering, Major: General Management, Specialization: Corporate Finance (1993 1998)
CONTACT Kulczyk Silverstein Properties Sp. z o.o. Krucza 24/26 00-526 Warsaw, Poland Phone: + 48 22 522 33 55 office@ksprop.com www.ksprop.com