PL

Rustonka in Korean-Polish hands

Investment & finance
CZECH REPUBLIC An investment trust fund established by Korean investor Hana Alternative Asset Management and Polish property manager White Star Real Estate has bought the Rustonka office centre in Prague’s Karlín district from J&T Real Estate for an estimated CZK 4.2 bln (app. EUR 163 mln).

The three-building complex contains 40,400 sqm of leasable space, 38,000 sqm of which is offices and 2,400 sqm retail space. Amazon is the largest tenant, while others include French property manager Veeam, two restaurants, car showrooms and a wine bar.

The LEED ‘Gold’ certified complex, which is situated just next to the Invalidovna metro station, was constructed in several stages between 2017 and 2019. Clifford Chance represented the seller for this transaction.

Latest news

Investment & finance

Poland Cavatina finalises purchase on ul. Chmielna

schedule 06 December 2023
Opr./edited by ANZ

As previously announced, Cavatina has purchased a site located in the centre of Warsaw at ul. Chmielna 75. The transaction amounts to more than PLN 145 mln. The group intends to develop a mixed-use project in this location, with a predominantly residential function.

Investment & finance

Latvia Six Sunly solar parks in Latvia

schedule 06 December 2023
Opr./edited by ANZ

Estonian renewable energy company and independent energy producer Sunly is planning to build six solar parks in Latvia with a total capacity of 52 MW. The construction is financed by Swedbank with EUR 22 mln. This is Swedbank’s biggest contribution to the solar park sector in Latvia.

Eurobuild FM

Poland Andrzej Dużyński on developing SBUs

schedule 06 December 2023
Tomasz Cudowski
editor-in-chief

Welcome to a special episode of Eurobuild FM! This short podcast featuring Andrzej Dużyński also includes the announcement of an extensive interview with the head of Ideal Idea that will be published in a few days in the Christmas issue of Eurobuild CEE magazine. We invite you to both listen in and read the article!

Office & mixed-use development

Romania More energy for Equilibrium 2

schedule 05 December 2023
Opr./edited by JC

Energy sector services and supplies group Eximprod is relocating its Bucharest office to the Equilibrium 2 building in the same city.

Warehouse & industrial

Romania New FAN for VGP Park Arad

schedule 05 December 2023
Opr./edited by JC

Romanian online shipping company FAN Courier has leased 10,000 sqm – the last available space – in VGP Park Arad in western Romania.

Warehouse & industrial

Poland Panattoni close to completing DHL centre near Poznań

schedule 05 December 2023
Opr./edited by JC

Panattoni's development of a 32,000 sqm logistics centre for DHL Parcel in Robakowo near Poznań is now close to completion. It is set to be the developer’s third industrial project in Poland to be awarded BREEAM ‘Outstanding’ certification.

Eurobuild FM

Poland Anna Watkowska on FSO Park

schedule 04 December 2023
Magda Rachwald

Welcome to Eurobuild FM! Anna Watkowska, a member of Okam City's management board and the project leader of the FSO Park development in Warsaw, talks exclusively for our podcast about the largest planned residential investment in the city. Check out at what stage this spectacular project has now reached.

Warehouse & industrial

Romania Chinese choose CTPark

schedule 04 December 2023
Opr./edited by ANZ

Topband Smart Europe, a Chinese company that manufactures controllers for power tools, white goods and BMS systems, has started operations at CTPark Timişoara. The tenant's production facility occupies app. 11,000 sqm.

Office & mixed-use development

Poland Lux Med stays at O3 Business Campus

schedule 04 December 2023
Opr./edited by ANZ

Lux Med Group has extended its lease at EPP-managed O3 Business Campus in Kraków. The tenant occupies almost 2,200 sqm in the building.

Warehouse & industrial

Poland Panattoni grows in Łódź

schedule 04 December 2023
Opr./edited by JC

Panattoni has started the construction of the first hall within Panattoni Park Łódź West II, which will occupy 70,630 sqm. Almost half of this space will be taken up by Rohlig Suus Logistics.

Investment & finance

Croatia S Immo sells Eurocenter in Zagreb

schedule 04 December 2023
Opr./edited by ANZ

S Immo successfully concluded the disposal of the Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 sqm.

Warehouse & industrial

Germany CTP to deliver sustainable transformation

schedule 04 December 2023
Opr./edited by JC

CTP has announced plans to develop a 60,771 sqm logistics park through a partial refurbishment of an existing business park in Krefeld West, Germany.

Residential

Poland More then 500 units under the Lett brand

schedule 01 December 2023
Opr./edited by ANZ

In two years, Finnish developer YIT has built and handed over more than 500 rental units in Warsaw to the Nrep fund. The flats were built in three Warsaw districts - Ursynów, Bemowo and Mokotów.

ESG

Poland CMS, WELL done!

schedule 01 December 2023
Opr./edited by ANZ

The CMS law firm's headquarters, located in Varso Tower, has become the first office arrangement in Poland to be awarded WELL Platinum certification. Thus, CMS joins the ranks of four law firms worldwide that have an office that complies with the highest standards of occupant wellbeing.

Office & mixed-use development

Poland Concentrix circles in on Global Office Park

schedule 30 November 2023
Opr./edited by ANZ

Customer engagement specialist Concentrix has leased almost 5,200 sqm in Global Office Park in Katowice, which is owned by Cavatina. The deal is the largest office lease in the city in 2023.

Investment & finance

Poland mBank provides loan for 7R

schedule 30 November 2023
Opr./edited by ANZ

7R has obtained a development loan for the 7R City Flex Katowice I project. The financing of EUR 15.5 mln was provided by mBank.

Warehouse & industrial

Poland Universal Express long-stay in Pruszków

schedule 30 November 2023
Opr./edited by BL

Universal Express has extended its lease of the MLP Pruszków II park for another period. The company has been a tenant of the MLP logistics centre for almost 10 years.

Hotels

Poland The seventh Accor in Kraków

schedule 30 November 2023
Opr./edited by ANZ

A new hotel is being built in Kraków. It will be the seventh facility of the AccorInvest/Orbis group in the capital of Malopolska under the Accor brand in the lifestyle segment. The hotel is scheduled to open in Q2 2025.

Investment & finance

Poland Galeria Tarnovia changes hands

schedule 30 November 2023
Opr./edited by ANZ

A London-based European investment company has finalised the purchase of Galeria Tarnovia, which is one of the biggest transactions on the Polish retail property market this year. The Tarnów mall has about 17,000 sqm of leasable space (36,500 sqm of total space).

Infrastructure

Poland PLN 1.5 bln for the airport

schedule 29 November 2023
Opr./edited by ANZ

The investment programme until 2030 worth more than PLN 1.5 bln has been approved for Katowice's Wojciech Korfanty Airport. The programme will include more than 20 projects, with the construction of a passenger terminal, a cargo terminal, a technical hangar, as well as taking into account changes to the airport's transport system.

Latest in Investment & finance

schedule 06 December 2023

Cavatina finalises purchase on ul. Chmielna

As previously announced, Cavatina has purchased a site located in the centre of Warsaw at ul. Chmielna 75. The transaction amounts to more than PLN 145 mln. The group intends to develop a mixed-use project in this location, with a predominantly residential function.

schedule 06 December 2023

Six Sunly solar parks in Latvia

Estonian renewable energy company and independent energy producer Sunly is planning to build six solar parks in Latvia with a total capacity of 52 MW. The construction is financed by Swedbank with EUR 22 mln. This is Swedbank’s biggest contribution to the solar park sector in Latvia.

schedule 04 December 2023

S Immo sells Eurocenter in Zagreb

S Immo successfully concluded the disposal of the Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 sqm.

schedule 30 November 2023

mBank provides loan for 7R

7R has obtained a development loan for the 7R City Flex Katowice I project. The financing of EUR 15.5 mln was provided by mBank.

schedule 30 November 2023

Galeria Tarnovia changes hands

A London-based European investment company has finalised the purchase of Galeria Tarnovia, which is one of the biggest transactions on the Polish retail property market this year. The Tarnów mall has about 17,000 sqm of leasable space (36,500 sqm of total space).

schedule 27 November 2023

Transaction at ul. Cybernetyki

White Stone Development has sold two office buildings at Cybernetyki 7 Street. The Hol77 complex in Warsaw's Mokotów district has been purchased by Flora Development 22.

schedule 23 November 2023

mBank to support MLP Group with EUR 12 mln

mBank has provided MLP Group with financing of nearly EUR 12 mln. The funds raised will be used to refinance the construction of a 32,000 sqm warehouse facility at the MLP Pruszków II logistics centre.

schedule 22 November 2023

Panattoni has borrowed from Alior

Panattoni is developing a manufacturing plant for the Fortaco Group in Knurów near Gliwice. The construction of the factory has been financed by a loan from Alior Bank of over EUR 24 million.

schedule 20 November 2023

Globalworth gets millions

Globalworth has been granted funding in the form of a EUR 145 mln bank loan. The financing covers the Skylight and Lumen buildings on ul. Złota, as well as the Hala Koszyki.

schedule 16 November 2023

CTP gets money from pbb

Pbb Deutsche Pfandbriefbank has provided a EUR 113 mln investment loan facility to CTP, which will be drawn down in phases. CTP will utilise the proceeds for the refinancing of a logistics portfolio in the Czech Republic.

schedule 16 November 2023

Lucky quarter for Nepi

Nepi Rockcastle’s net operating income rose 23 pct in the first nine months of 2023 to EUR 365 million, versus the same period of 2022. The main drivers of the strong performance were a combination of tenant sales performance and the contribution of the acquisitions completed in 2022.

schedule 09 November 2023

EUR 75 mln for Cedet

PBB Deutsche Pfandbriefbank has granted a 75 mln euro investment loan to a Polish company managed by Macquarie Asset Management. The loan will be used to refinance the Cedet office building in Warsaw.

schedule 08 November 2023

Between uncertainty and optimism

According to the latest report from PwC and the Urban Land Institute, 75 pct of real estate leaders agree current valuations “do not accurately reflect” all the challenges and opportunities in real estate, as a wedge continues to be driven between market price expectations and book valuations.

schedule 08 November 2023

Stokado acquires Top Box

Stokado, owned by Redefine Properties and Griffin Capital Partners, has acquired Top Box self-storage rental company. As a result, Stokado has added 4,500 sqm to its portfolio of operating assets and further 4,500 sqm to development pipeline.

schedule 06 November 2023

Brownfield projects get millions

Hillwood Poland has signed a loan agreement worth more than EUR 13 million with BNP Paribas Bank for the development of a logistics park in Syców, as well as an agreement worth more than EUR 35 million for the development of a park in Rawa Mazowiecka.

schedule 03 November 2023

LOI signed for Czech portfolio acquisition

S Immo has signed a non-binding letter of intent with Czech Property Investments, a subsidiary of CPI Property Group, to acquire a property portfolio in the Czech Republic. 

schedule 03 November 2023

Fundamentals in CEE remain fairly robust

The pricing gap between buyers’ and sellers' expectations remains a significant barrier to seeing volumes return to the 5 and 10-year average levels of EUR 10-11 bln, however, lower levels of vacancy are being recorded and some good levels of rental growth in certain sectors have been noted, reveals Colliers in its latest “Q3 2023 CEE Investment Scene” report.

schedule 02 November 2023

Crestyl takes control of Spravia

Crestyl has completed the acquisition of the remaining 50 pct stake in Spravia from Cornerstone Partners, giving it full control of the company.

schedule 02 November 2023

GGC sells to Sonar

Sonar Real Estate has secured an office property in Munich in a joint venture with a global institutional investor. The seller, Global Gate Capital, is an international investment firm that invests across alternative asset classes and public markets.

schedule 30 October 2023

Profi sale breaks record

MidEuropa, a European private equity investor, has entered into an agreement to sell Romanian food retailer Profi Rom Food to Ahold Delhaize. The value of the enterprise was estimated at about EUR 1.3 bln pre-IFRS16 (EUR1.8 bln post-IFRS 16).

Edition 11 (283) November 2023

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