Warsaw Stock Exchange-listed investor Soho Development has revealed that it is now in talks with developer Yareal Polska regarding the planned sale of a residential site located on ul. Mińska in the Praga Południe district of the Polish capital, within the company’s Soho Factory complex. The 53,000-sqm plot of land can house buildings comprising a total of approximately 68,000 sqm of usable space. If Soho Development and Yareal Polska reach an agreement, the transaction will be finalized by December 18.
Soho Development has to date completed several residential buildings in the Soho Factory complex that is the flagship project in the company’s portfolio and is expected to feature more than 120,000 sqm of usable space when fully developed. Earlier this year, the company announced that its new strategy envisions offloading selected attractive real estate assets, rather than focusing on securing a major investor as was previously planned.