Magdalena Kowalewska

Magdalena Kowalewska

Country Manager Operations Poland

IMMOFINANZ

She started her career in IMMOFINANZ in 2009. Since then she was holding the position of Head of Asset Management Offices & Logistics Poland, Country Manager Offices & Logistics Poland and in 2016 she started the function of Member of the Board and took the position of Country Manager Operations to manage the Polish real estate portfolio of the company worth around EUR 760 million. Currently, she is responsible for all operational departments of IMMOFINANZ in Poland including Asset Management, Leasing, Development and Center Management. Her activities focus on two strategic areas of the company's operations: office and retail real estate. As part of its function, Magdalena is also responsible for activities in the field of HR, Marketing and PR in Poland. During the last years of her work she successfully implemented the development strategy of IMMOFINANZ three brands on the local market: myhive office brand, STOP SHOP retail parks brand and the brand of VIVO! shopping centers. Confirmation of her success are, among others full commercialization of the development project VIVO! shopping center in Krosno before its opening in September 2017, maintaining throughout the all time the above the market average occupancy level both in office and retail sector or leading the Polish team in the recent acquisition of Warsaw Spire.

Focus on two key commercial sectors: retail and office, developing further three brands: myhive for offices, VIVO! for shopping centers and STOP SHOP for retail parks.

Magdalena Kowalewska is responsible for the whole office and retail portfolio of IMMOFINANZ in Poland. As of June 30th 2019 IMMOFINANZ properties in Poland represent 16.7% of the company’s total portfolio, including 32 properties with a carrying amount of EUR 761.2 million. The standing investment portfolio splits into 15 office buildings (17.5% of the total standing office portfolio) and 11 retail properties (17.6% of the total standing retail portfolio). The latest acquisition on Warsaw Spire Tower for EUR 386 million will significantly strengthen Polish share in the whole IMMOFINANZ portfolio (as well as the whole property value of Group, which currently amounts to EUR 4.2 billion), making Poland the biggest market within the Group. Closing of the acquisition of WS took place in Q3 2019.

In the first half of the financial year 2019, rental income in Poland increased by 10.2% to EUR 25.3 million (Q1-2 2018: EUR 22.9 million), which accounts for 19.2% of the Group’s total rental income.

Prior to joining IMMOFINANZ, in 2002-2007 she worked as a Property Manager in a Belgian real estate development company Liebrecht & wooD. Magdalena Kowalewska is a graduate of Marketing at the University of Chicago, International Economic Relations at the Warsaw School of Economics and English Philology at the Jan Kochanowski University in Kielce.

Purchase of Warsaw Spire Tower - EUR 386 million (July 11th 2019) Further optimization of IMMOFINANZ’s office portfolio in Warsaw through selling part of the EMPARK plot to Echo Investment. The agreed property value totals EUR 48.9 million and is based on future, approved usable space. (August 14th 2019). Kicking off with the construction process of STOP SHOP Siedlce (14,000 sqm), purchasing the plot for STOP SHOP in Zielona Góra and acquisition of a retail park in Łowicz.

Successful implementation of an office brand myhive in Poland and roll out of this concept comprising (at present) seven office buildings in Warsaw with a total of 140,000 sqm of GLA. Including of Warsaw Spire within this concept is foreseen for 1Q 2020. Successful roll out of the two retail brands in Poland, confirmed by among others the opening of VIVO! shopping center in Krosno. Worth noticing is the fact the property was fully leased two months before the opening. Regarding the retail park brand STOP SHOP, the biggest property (in Poland) of that type with over 14,000 sqm of GLA is currently being built in Siedlce. Opening is scheduled for Spring 2020. Other plot for a future STOP SHOP was purchased recently in Zielona Góra. What’s more the acquisition of a retail park in Łowicz is being currently on the finalizing stage. The property will be afterword’s included into STOP SHOP family.

Receiving the Best Office Design 2018 award as part of the Property Design competition for the myhive office brand implementation, Eurobuild Awards 2018 for VIVO! Piła as the shopping center of the year, CiJ Awards 2018 for myhive - as the best office concept and EuropaProperty Award 2017 for STOP SHOP as the best retail park format. In 2019 VIVO! Lublin received the Parton of Couture Awards granted by the city of Lublin.