We visited Poland with Eastnine last week ~EUR 200m to spend on acquisitions... ...which could lower ’24e P/CEPS to 11x (45% discount to the sector)
ANNONS
Ready to light the fuse on EUR 200m dry powder
After receiving ~SEK 1.7bn in Q3’23 from its divestment of Russian fashion retailer MFG, Eastnine currently has ~EUR 200m to spend on property acquisitions. This is a material amount, especially compared with Eastnine's current property value of ~EUR 600m. The company has made it clear that it will be deploying capital in Poland, and last week, ABGSC, among others, was invited for a two-day tour of investment opportunities in Warsaw and Poznan.
