Fprop appoints Senior Adviser in Poland

RNS Number : 4819H

First Property Group PLC

08 June 2017

 

Date:	8 June 2017
On behalf of:	First Property Group plc ("First Property", "the Company" or the "Group")
Embargoed:	0700hrs

First Property Group plc

Fprop appoints Senior Adviser in Poland

First Property Group plc (AIM: FPO), the property fund manager and investor, is pleased to announce the appointment of Del Chandler as Senior Adviser to its Polish and Romanian operations.

Del has extensive experience of property deal making and financing in Central Europe, with a career in the region spanning over 25 years. During this time he has advised on over €1 billion of property transactions. Most recently he was Managing Director of the Central European real estate financing business of ING and then Managing Director of Capital Markets CEE at BNP Paribas in Warsaw.

Del's primary role will be to assist the Group to continue growing its Polish and Romanian commercial property business, which currently comprises 28 properties with a value of some €275 million. He will be well supported by the Group's existing 30-strong team in Warsaw. In addition, Del will lead the Group's efforts to establish itself as a manager of Polish Investment Funds (TFI) and Polish REIT's.

Commenting on the appointment, Ben Habib, Chief Executive, said:

"We have known Del Chandler for over ten years now, and have seen first-hand the importance of his skill and knowledge base in securing the best possible deals. I am delighted that we have obtained the services of someone of his experience and calibre and I am certain that our association will greatly assist the development of our business in Central Europe."

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For further information please contact:

First Property Group plc	Tel: [phone]
Ben Habib (Chief Executive Officer) George Digby (Group Finance Director) Jeremy Barkes (Director, Business Development)	www.fprop.com [e-mail]
Arden Partners (NOMAD & Broker)	Tel: + 44 (20) 7614 5900
Chris Hardie (Director, Corporate Finance) Ben Cryer (Corporate Finance)
Redleaf PR	Tel:+ 44 (20) 7382 4734
Rebecca Sanders-Hewett / Robin Tozer / Susie Hudson	[e-mail]

Notes to Investors and Editors:

First Property Group plc is an award winning property fund manager and investor with operations in the United Kingdom and Central Europe. Around one third of the shares in the Company are owned by management and their families.

Its focus is on higher yielding commercial property with sustainable cash flows. The company is flexible and takes an active approach to asset management. Its earnings are derived from:

·      Fund management - via its FCA regulated and AIFMD approved subsidiary, First Property Asset Management Ltd (FPAM), which earns fees from investing for third parties in property. FPAM currently manages eleven funds which are invested across the United Kingdom, Poland and Romania.

·      Group Properties - principal investments by the Group, to earn a return on its own capital, usually in partnership with third parties. Investments include ten directly held properties in Poland and Romania (including five held by Fprop Opportunities plc [FOP], in which the Group is currently the majority shareholder), and interests in eight other funds managed by FPAM.

Listed on AIM the Company has offices in London and Warsaw. Further information about the Company and its products can be found at: www.fprop.com.

 

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