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OKAM GROUP

Okam Group has been active on Polish market Since 2004. The current shareholders of Okam Capital are Eran Ilan, Arie Koren and Aurec Capital Group. We invest in Warsaw, Łódź, Katowice, Kraków and Szczecin. We are interested in residential, commercial and office market. The General Manager of Okam Capital is Arie Koren who resides in Warsaw since 2004.


EXAMPLES OF PROJETCS

ARLET HOUSE. Warsaw. 189 apartments. Project finished in 2009

AVANGARDA CENTRE Łódź. 38.000 sq. m. of offices. Project under preparation


PROJECTS PORTFOLIO

M2. Warsaw. 270 apartments. Arie Koren was General Manager Project finished in 2006

PIOTRKOWSKA 217 Łódź. 9.000 sq. m. of commercial space and 30.000 sq. m. of residentail area. Project under preparation


Angielska Grobla With reference to your project located in Gdańsk on Angielska Grobla as representatives of Okam Capital we want to express our interest in participation in your project. We are pleased to offer you our idea for development of this project. In our opinion the best solution would be a joint venture partnership in which Fortalia Investemnt Group would contribute the land to the Partnership and Okam Capital would contribute cash contribution with the value of Fortalia Investemnt Group contribution.


Angielska Grobla Legal form The Project shall be run by a Limited Partnership. Legal core of Limited Partnership is defined in The Commercial Companies Code (art. 102 – 124), but in the matters not regulated in that section of the code, shall be governed accordingly by the provisions regarding Register Partnership (art. 22 -85 of the code). Stages of the Project The Project shall be executed in Stages. Decision of number of Stages should be a matter for further negotiations.


Basic business assumptions General business assumption is, that the Project implementation in every case of carrying out the next Stage, Fortalia Investemnt Group contributes to the Limited Partnership contribution being the share in the ownership of the Real Estate corresponding in fact to the area required for accomplishment of this Stage, and OKAM Capital contributes cash contribution corresponding with the value of Fortalia Investemnt Group contribution. In the event that the Project implementation requires higher financing, Partners contribute extra cash contributions in proportion 50 / 50. In the same relation Partners participate in profits and losses of the Project and each of the Stages. Realization of every following Stage shall be financed from equity of Limited Partnership – first from the profits achieved in previous Stages.


Rules of cooperation Rules of cooperation between the Partners shall be defined in two agreements: Deed of a Limited Partnership and Joint Venture Agreement Deed of limited partnership shall define among others: a) Contributions to be transfer onto the Partnership by each of the Partner; b) The amount of limited liability of the Limited Partner (suma komandytowa), that can be under or below the value of the contribution. c) Portion (share) of each Partner in the profits of the Partnership; d) Portion (share) of each Partner in the losses of the Partnership; e) Provisions regarding division of the assets of the Partnership in case liquidation of the Partnership under any reason defined in art. 58 of commercial companies code. f) Manner of consultations between the partners and manners of acceptance by g) Partners of the actions exceeding regular actions of the Partnership. g) Definitions of regular actions of Partnership


Assumptions of Joint Venture Agreement • JV Agreement shall define exact obligations of Partners regarding development of the Project: • Number of stages • Maximum costs of each stage; • Timing of each Stage; • Conditions to be fulfilled to start the next stages; • Conditions and procedure of estimating the sale price of units and increasing/decreasing the sale price during the sale period. • Obligation of general Partner regarding contributions to be made for financing each stage; • Manner of consultations • Conditions of termination of the Deed of Partnership by each of the Partners • Contractual penalties in case breaching JV Agreement • Rules of arbitration


Business data According to provided data it is possible to build on the site c. a. 59.000 sq. m. of residential useful area and 11.000 sq. m. of commercial useful area. Value of the land: 70.000.000 PLN (according to our valuation and proposal) Total Costs of project development: 363.000.000 PLN Sales prices (of 1 sq. m.): Residential: 7.000 PLN (net) Commercial: 7.000 PLN (net) Total Income: 521.300.000 PLN Profit: 158.300.000 PLN See attached business plan


OKAM Capital Sp. z o. o. ul. Gr贸jecka 214/44 02-390 Warszawa phone.: + 48 22 435 47 87-88 fax: +48 22 435 47 89 Email: piotr.szymonski@okam.pl www.okam.pl

CONTACT

Offer  

The general offer of cooperation

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