The core business of the Tonsa Group is the implementation of development investments consisting in the construction of office buildings, and then their management and reaping benefits from lease. In 2022, the Group also expanded its operations in the residential market. The Group’s main project is Olivia Centre – a complex of class A office buildings in Gdańsk at Al. 472 Grunwaldzka Street. Olivia Centre in Gdańsk is the largest office project in Poland. The investment is located in the city centre, on the main thoroughfare – Grunwaldzka Avenue, connecting the entire Tri-City. The Olivia Centre project is characterized by a diversified structure of over 100 tenants, including both Polish and international corporations as well as companies from the sector of small and medium-sized enterprises.

The Group’s business model, in the case of office properties, is based on a build-to-own approach, thanks to which the Group accumulates the value of the facilities in the portfolio, which are developed by special purpose vehicles that are 100% owned by Tonsa Comercial REI NV (Bond Guarantor). At the same time, the Group benefits from an increase in the value of its assets. The Group allows for the possibility of selling all or several properties.

In the case of residential or institutional rental (PRS) properties, the model assumes a sale to the target individual or institutional buyer while the property is still under construction or after the property has been commercialized.

The issuer of the bonds is Olivia Fin spółka z ograniczoną odpowiedzialnością spółka komandytowo-akcyjna spółka specjalna (special purpose vehicle), acting as a company acquiring, in the form of a bond issue, funds, primarily for the development of the Olivia Centre complex by the Guarantor Group. The main element of the Olivia Centre project is a complex of class A office buildings in Gdańsk at Al. 472 Grunwaldzka Street. The funds raised by the Issuer are distributed mainly to special purpose vehicles from the Guarantor’s Group involved in the development of the Olivia Centre project.

The Company was established and operates on the basis of the provisions of the Code of Commercial Companies and other provisions of law generally applicable in Poland, as well as the Articles of Association and other internal regulations. The Company, as the Issuer of bonds introduced to trading in the Alternative Trading System, also operates on the basis of the regulations governing the functioning of the capital market, including the MAR Regulation.

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