Briefs

12 investors from Israel

A group of 12 investors from Israel are participating in a transaction under which Apollo Real Estate Advisors and Rida Development are purchasing 28 Metra AG properties (600,000 sqm) for a sum of 700 million euros. The mentioned group includes Israel Phoenix Assurance, Hadar Insurance and Profimex among others.

Strabag takes a huge step forward

Strabag, the construction giant, claims it has achieved 11.4 million zlotys net profit in 2003, against an income of 924 million zlotys. These amounts stood appropriately at 6.6 million and 574 million zlotys in the preceding year. Strabag's principal source of income last year was the commissioning of a 38- kilometre section of the A2 motorway between Września and Poznań, which earned it 462 million zlotys. (Source: GW)

Skanska sells, Polonia purchases

Skanska Property Hungary has sold the East-West Business Center office building in Budapest for 41 million euros. The purchaser is Polonia Property Fund, an investment fund managed by Allied Irish Bank. The East-West Business Centre office building situated in Budapest city centre was built in 1991 and has a floor space of 21,000 sqm.

Price of GTC shares

It is already known that the price of the 3.9 million series E shares of the Globe Trade Centre developer will be between 78 and 87 zlotys. The series E shares will be offered in public subscription.

33 percent growth

LPP (owners of the Reserved and Cropp brands, inter alia) and Redan (Troll and Top Secret among others) have informed that sales revenue grew 33 percent in the first quarter of 2004. LPP registered sales revenue of 100.8 million zlotys, while Redan informed it has achieved an income of 37.7 milion zlotys. In addition, the firm announced its immediate plans to open 5 new Troll shops, 13 Textil Market and 6 Top Secret outlets as well as 30 licensed shops.

Wiśniowy Villa changes owner

Wiśniowy Villa, part of the Wiśniowy Business Park complex in Warsaw, has changed hands, Chelverton International selling it to the Executive Search consultancy company. The new owner intends to establish its Warsaw head office in this building (790 sqm). Chelverton International was represented by Jones Lang LaSalle in the property sales transaction.

Exbud Skanska sells off properties

Exbud Skanska is looking for a customer for its retail property of more than 4,400 sqm space at Radomska Street in Kielce. Komfort and Mix Electronics are some of the shops with retail outlets in the building. Arkadiusz Cichoń representing Exbud Skanska informed that selling this building is justified by the improving situation on the property market and the company's intention to focus on building operations. The same arguments were used when deciding to sell other real estate in Kielce, including the office building at Manifestu Lipcowego Street. (Source: GW)