PL

Top 5 – Business is booming

Investment & finance
EUROBUILD CEE This week’s top five hottest stories have all been dominated by big capital transactions.

1. The sale of one of the largest developers in Poland Echo Investment to Hungarian investment company Wing can be safely named as the news of the week and will certainly be one of the deals that will mark the year.


2. With Wola Center changing hands for just over EUR 100 mln, it’s no surprise everyone wants to know more.




3. The first acquisition in Poland by British Oxenwood Real Estate also caused a bit of a stir and the story made it to number three on the list.



4. Clearly, the report on the rise of Asian investment in the region by Skanska, Colliers International and Dentons is of huge importance to everyone operating on the market.

5. Gazit Globe is trying to face down the minority shareholders of Atrium European Real Estate, but what price the company is actually worth, only time will tell.

Latest news

Office & mixed-use development

POLAND Wave approval waved through

schedule 09 July 2020
Opr./edited by NN

The Wave office building, which has just been completed by Skanska in Gdańsk’s Oliwa district, has been approved for use.

Warehouse & industrial

CEE REGION CEE-6 manufacturing powers into contention

schedule 09 July 2020
Opr./edited by NN

The CEE-6’s share of EU manufacturing output has more than doubled since 2004, when the first group of these countries joined the European Union, according to research by Colliers International.

Office & mixed-use development

POLAND Warsaw office pipeline half pre-leased

schedule 09 July 2020
Opr./edited by NN

Around 50 pct of the 704,000 sqm of office space currently under construction in Warsaw has been pre-leased, according to real estate advisory Cresa.

Office & mixed-use development

CEE REGION Office occupiers set to embrace hybrid models

schedule 09 July 2020
Opr./edited by NN

The total modern office stock in the 14 CEE capital cities at the end of Q1 2020 amounted to almost 26.4 mln sqm, according to Colliers International’s ExCEEding Borders Office Snapshot survey of the region’s main office markets.

Office & mixed-use development

ROMANIA Lockdown leases of 25,000 sqm for Globalworth

schedule 09 July 2020
Opr./edited by NN

Globalworth has signed contracts for more than 25,000 sqm of office space in Bucharest in the last three months, despite the pandemic and social distancing measures.

Retail & leisure

POLAND Mall footfall bounces back

schedule 09 July 2020
Nathan North
deputy editor

The Polish Council of Shopping Centres (PRCH) has published its latest average weekly footfall figures for centres across Poland.

Retail & leisure

SERBIA Pepco launches into Serbia

schedule 08 July 2020
Nathan North
deputy editor

Polish discount store chain Pepco is entering the Serbian market, where it plans to open in 30 locations in its first year of operations.

Construction

EUROPE Construction mood starts to recover – GlobalData

schedule 08 July 2020
Opr./edited by NN

The European construction industry expected to recover in second half of 2020, according to data and analytics specialists GlobalData.

Property and Facility Management

POLAND Globalworth adds Rondo Business Park to PM list

schedule 08 July 2020
Nathan North
deputy editor

Rondo Business Park in Kraków is to be managed by Globalworth’s in-house team from July.

Events

Poland Changing with the times

schedule 08 July 2020
Eurobuild CEE

Summer at Eurobuild has never been so hot! We have a new editor, a new website, and soon we’ll be moving to our new headquarters. And, with the announcement of their rescheduled dates, a lot of heat and excitement are being generated for our sports tournaments!

Investment & finance

EUROPE Industrial yields fall below retail for first time

schedule 08 July 2020
Opr./edited by NN

Average prime industrial and prime shopping centre yields across mainland Europe have converged for the first time in recorded history, as demand for logistics soars due to the e-commerce boom, according to research by Savills.

Events

POLAND Blue skies return for golf

schedule 08 July 2020

Great news for those who were disappointed by the cancellation of Eurobuild’s annual golf tournament – it’s now back on! And it will be taking place very soon, on September 11th in Rajszew just outside Warsaw.

Warehouse & industrial

Czech Republic Czech most attractive European manufacturing hub – C&W

schedule 08 July 2020
Opr./edited by NN

The Czech Republic is the most attractive European manufacturing hub and the fourth most attractive globally, according to Cushman & Wakefield’s annual Global Manufacturing Risk Index.

Office & mixed-use development

CZECH REPUBLIC Building B more beautiful for BB Centrum

schedule 08 July 2020
Opr./edited by NN

The recently renovated building B of BB Centrum in Prague 4 has been approved for use.

Events

POLAND Tennis is back in the game!

schedule 08 July 2020

Great news for tennis fans. Eurobuild’s 15th Annual Tennis Tournament, which unfortunately had to be postponed because of the pandemic, will now take place on September 11th at the Warszawianka Tennis Club.

Investment & finance

ROMANIA NEPI Rockcastle portfolio sale hits the rocks

schedule 07 July 2020
Nathan North
deputy editor

AFI Europe’s EUR 300 mln deal to buy NEPI Rockcastle’s Romanian office portfolio has fallen through with the seller insisting that Covid-19 restrictions have prevented the purchase – a claim denied by NEPI Rockcastle, which is now demanding EUR 15 mln compensation from the Israeli-owned company.

Warehouse & industrial

POLAND Dot2Dot packed into 7R Park Gdańsk II

schedule 07 July 2020
Opr./edited by NN

Cardboard packaging company Dot2Dot is to move into the 7R Park Gdańsk II complex, where it will have a production line, warehousing and its head office.

Green projects

LATVIA EIB agrees eco-funds for Verde

schedule 06 July 2020
Nathan North
deputy editor

The European Investment Bank (EIB) has approved a grant for the Verde business centre complex in Riga, developed by SBA Group company Capitalica Asset Management.

Investment & finance

ESTONIA East Capital fund buys SEB HQ for EUR 45.75 mln

schedule 06 July 2020
Nathan North
deputy editor

East Capital Real Estate IV has acquired SEB's head office in central Tallinn from Partners Group and Northern Horizon for EUR 45.75 mln.

Residential

POLAND/HUNGARY Cordia cashes in EUR 38 mln from Polnord takeover

schedule 03 July 2020
Opr./edited by NN

Cordia is set to make a profit of EUR 38.2 mln (app. PLN 170.4 mln or HUF 13.6 bln) from its acquisition this year of a 93 pct stake in Polish residential developer Polnord.

Latest in Investment & finance

schedule 08 July 2020

Industrial yields fall below retail for first time

Average prime industrial and prime shopping centre yields across mainland Europe have converged for the first time in recorded history, as demand for logistics soars due to the e-commerce boom, according to research by Savills.

schedule 07 July 2020

NEPI Rockcastle portfolio sale hits the rocks

AFI Europe’s EUR 300 mln deal to buy NEPI Rockcastle’s Romanian office portfolio has fallen through with the seller insisting that Covid-19 restrictions have prevented the purchase – a claim denied by NEPI Rockcastle, which is now demanding EUR 15 mln compensation from the Israeli-owned company.

schedule 06 July 2020

East Capital fund buys SEB HQ for EUR 45.75 mln

East Capital Real Estate IV has acquired SEB's head office in central Tallinn from Partners Group and Northern Horizon for EUR 45.75 mln.

schedule 01 July 2020

Strong H1 volumes despite the virus

An investment volume of EUR 2.9 bln was transacted on Polish real estate in the second best H1 on record, according to JLL.

schedule 01 July 2020

Arrow takes aim at Poland

Arrow Capital Partners has acquired Airport House in Warsaw for its USD 3 bln European Strategic Industrial Real Estate (SIRE) platform for an undisclosed sum.

schedule 30 June 2020

Investor confidence set to recover – Cresa

Despite the impact of the pandemic, Poland should continue to be an attractive commercial real estate investment destination, according to Cresa.

schedule 29 June 2020

Tomasz Trzósło approved as EPP CEO

A general meeting of shareholders has approved the appointment of Tomasz Trzósło to the position of CEO of EPP.

schedule 29 June 2020

City West C1 and C2 sold for CZK 2 bln

Czech real estate group Českomoravská Nemovitostní (ČMN) has completed the CZK 2 bln (app. EUR 74.5 mln) acquisition of two office buildings: City West C1 and C2 in Prague’s western Stodůlky district.

schedule 22 June 2020

Corum buys DSV ISS centre

French investor Corum Asset Management has completed the acquisition of the new DSV International Shared Service Centre in Warsaw’s Mokotów business district from DSV in a sale-and-lease-back deal.

schedule 19 June 2020

Tesco to sell Polish business to Netto

British retailer Tesco has announced the sale of its Polish hypermarket chain to Salling Group, the Danish owner (among others) of the Netto chain.

schedule 19 June 2020

GalCap picks up Rumbach Center

Vienna-based asset and investment manager GalCap Europe has acquired the Rumbach Center in Budapest’s central VII district for a German pension fund for an undisclosed sum.

schedule 18 June 2020

Reino teams up with Brits to buy Logistic City

Reino Capital has announced that it has concluded the purchase of the Logistic City complex in Piotrków Trybunalski in central Poland for an undisclosed sum.

schedule 17 June 2020

Albert sells Čestlice centre to HSTN

Albert ČR has sold its shopping centre in Čestlice, on Prague’s southeastern outskirts, to HSTN Holding for an undisclosed sum.

schedule 15 June 2020

RICS now mediates online

RICS has launched an online mediation service as a response to the growing number of real estate market disputes, including rental payment disputes  resulting from the covid 19 crisis.

schedule 09 June 2020

Market goes from sunny to gloomy – Deloitte

The percentage of investors in Europe planning to focus on new markets plummeted from 20 pct in January to zero at the end of April, according to Deloitte’s latest market confidence survey.

schedule 05 June 2020

Allianz gets an Eiffel

HUNGARY Allianz Real Estate has completed the 100 pct acquisition of the Eiffel Square office building in Budapest.

schedule 04 June 2020

HB Reavis sells and buys in London

SLOVAKIA/UK Slovak developer HB Reavis has sold its office building at 20 Farringdon Street in central London and has also announced the acquisition of a new property in the city, which after redevelopment will be become Quick & Tower House, a 135,000 sq ft (12,540 sqm) commercial project in Shoreditch.

schedule 04 June 2020

Arete secures EUR 80 mln in financing

CZECH REPUBLIC The Arete real estate investment group has received a loan of EUR 80 mln from Raiffeisenbank.

schedule 03 June 2020

Equal Business Park from Cavatina to Apollo-Rida

POLAND The Equal Business Park office complex in Kraków developed by Cavatina Holding has been sold for an undisclosed sum to a consortium managed by Apollo-Rida.

schedule 03 June 2020

S Immo confident in spite of EUR 31.5 mln write-down

CE REGION S Immo enjoyed good operational performance in Q1 2020, but was also impacted by a EUR 31.5 mln write-down in the value of its portfolio due to the pandemic.

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