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Mermaid Properties

Category: Office Developer of the Year, CEE

Award:	Office Developer of the Year, CEE
Name of company:	Mermaid Properties Sp. z o.o.
Countries in which company operates:	Polska
Name of president or managing director for the region:	Radosław Sieroń
Brief description of the company and team:	Mermaid specialises in creating value through the development of unique real estate opportunities, always with high pre-lease levels. The developer of Młodziejowski Palace, Cross Point Łódź and Libra Business Centre, among others.
Why the company should be considered for the award:	In 2012 Mermaid delivered Libra Business Centre I with 15,600 sqm. Upon completion (October 2012) the building was 90 pct leased to WN PWN, Infovide-Matrix and Canon Polska. A pre-lease was signed for Jasna for 4,700 sqm with law firm SK&S and construction launched for Jasna 26, (with a total 5,500 msqm gla). The company developed the most successful office building in Łódź – Cross Point. This year it achieved 90 pct occupancy after leasing 1,500 sqm to Nordea, Raiffeisen Bank (800 sqm), Compensa (410 sqm) and Ernst & Young (330 sqm). It also achieved a pre-construction LEED ‘Gold’ for phase II of CPL. In December 2011, Miodowa Palacewas sold to IVG with a 6.5 pct yield. The company shows that with a relatively small size and limited access to large-scale capital, unique and complex projects can be completed successfully.
Company website:	www.mermaid.pl

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