PL

Trei borrows EUR 51 mln against 40 Biedronka stores

Investment & finance
Trei Real Estate Poland has borrowed EUR 51 mln from pbb Deutsche Pfandbriefbank.

The loan is a cross-border financing arrangement with two tranches to be paid back in five and ten years. It is backed by 40 Biedronka supermarkets from Trei Poland's portfolio. The funds are intended to help finance the company's future growth.

The loan is a classic real estate financing arrangement, secured by land and rental income. The 40 properties were previously debt-free – either having been newly constructed since the last round of financing or having had their prior loans entirely repaid. The financing arrangement will raise the gearing ratio of Trei Real Estate to around 39 percent. This is equivalent to an increase of nearly ten percentage points over the past year. By the end of 2020, our gearing ratio should be somewhere between 40 pct and 45 pct. Our medium-term target is a 50 pct ratio relative to our overall portfolio.
Matthias Schultz, the CFO of Trei Real Estate


The purpose of this financing arrangement is to free up capital to fund our development activities in Poland and Germany. We will use some of the funds to develop additional Vendo Parks in Poland, while the rest will be remitted back to Germany for the development of residential projects. In addition to our existing portfolio, we currently have around EUR 960 mln invested in property developments in the pipeline.
Pepijn Morshuis, the CEO of Trei Real Estate

Overall, Trei operates around 100 supermarkets in Poland that are leased out to Biedronka, as well as 17 Vendo Parks. Biedronka is Poland’s market leader in food retailing with over 3,000 grocery stores.


Latest news

Eurobuild Awards

POLAND Calling all entries!

schedule 30 September 2020
Eurobuild Conferences

Have you been anxiously waiting for this? Because we have! The nomination process for the 11th Eurobuild Awards is now underway! As usual, the winners will be announced at the Eurobuild Gala in December!

Events

Poland Looking back and forward together

schedule 29 September 2020

Have you been missing all your friends in the sector? Or maybe you’ve actually become fond of meeting them in the virtual world? Either way, you can do both by taking part in the 26th Annual Commercial Property Market Convention in Poland on November 25th!

Warehouse & industrial

Poland Panattoni buys land in Janki

schedule 19 October 2020
Opr./edited by AH

Panattoni has purchased a further 3.14 ha in Janki just outside Warsaw next to the S8, which runs between Wrocław and Białystok.

Warehouse & industrial

EUROPE Warehouse demand from manufacturing doubles in eight years

schedule 16 October 2020
Opr./edited by NN

Europe is to see an additional 11.6 mln sqm of warehouse demand due to the manufacturing sector by the end of 2022, according to Savills, based on Capital Economics’ forecasts.

Retail & leisure

POLAND Poles embracing convenience

schedule 16 October 2020
Opr./edited by NN

The volume of internet sales in Poland has now almost returned to pre-pandemic levels, while at the same time Polish consumers have become more willing to shop in convenience centres in smaller retail formats, according to JLL.

Office & mixed-use development

POLAND Tenants happy in Prosta Office Centre

schedule 16 October 2020
Opr./edited by NN

Renegotiations have been successfully signed with a number of tenants covering a combined 2,013 sqm of office and retail space in Prosta Office Centre in Warsaw.

Eurobuild Awards

POLAND Stellar space

schedule 16 October 2020
Eurobuild Conferences

Have you developed a commercial building in the last twelve months? Then allow it to be judged by top market experts in the competition for Building of the Year in one of six categories for four real estate sectors!

Office & mixed-use development

Hungary Demand down 59 pct for Budapest offices

schedule 16 October 2020

According to the Budapest Research Forum, in the third quarter of 2020, 59,785 sqm of new office space was delivered to the Budapest office market in four projects.

Retail & leisure

Poland Convenience centres continue to grow

schedule 16 October 2020
Opr./edited by AH

The retail park segment in Poland has continued to grow despite the Covid-19 pandemic, according to the latest findings published jointly by JLL and Trei.

Investment & finance

WORLD PineBridge poised to take over Benson Elliot

schedule 16 October 2020
Nathan North
deputy editor

Global asset manager PineBridge Investments is about to acquire UK-based private equity real estate fund Benson Elliot Capital Management.

Office & mixed-use development

Poland BNI moves to WTT

schedule 15 October 2020
Opr./edited by AH

BNI Polska is moving out of Spektrum Tower to the Warsaw Trade Tower where it has leased almost 1,000 sqm.

Residential

Poland Yareal looks on the positives

schedule 15 October 2020
Opr./edited by AH

Yareal is starting construction of the second stage of its Pozytywny Mokotów development in Warsaw.

Office & mixed-use development

ROMANIA MassMutual leases 1,300 sqm in Orhideea Towers

schedule 15 October 2020
Opr./edited by NN

American insurance company MassMutual has leased 1,300 sqm for its global business centre in Orhideea Towers in Bucharest.

Office & mixed-use development

EMEA REGION EMEA flexes its office muscles

schedule 15 October 2020
Opr./edited by NN

EMEA markets with low levels of existing flexible workspace saw the greatest growth in flex office operations over H1 2020, according to research by Colliers International.

Investment & finance

SLOVAKIA EUR 105 mln loan for Eurovea extension

schedule 15 October 2020
Nathan North
deputy editor

J&T Real Estate has obtained a EUR 105 mln syndicated loan from VÚB banka and UniCredit Bank for the construction of the residential section of the extension to its large-scale Eurovea mixed-use development in Bratislava.

Office & mixed-use development

HUNGARY BT bets on Budapest One

schedule 15 October 2020
Nathan North
deputy editor

British Telecom is to move its regional business services centre to the Budapest One office park, which is being developed by Futureal.

Warehouse & industrial

POLAND Savills comes to Katowice

schedule 14 October 2020
Opr./edited by NN

Commercial real estate advisory Savills has opened an office in Katowice. Its new regional office will serve clients looking for modern office and industrial space in Silesia and also be used for providing services to landlords.

Warehouse & industrial

POLAND Panattoni to build hi-tech plant for Danfoss in Grodzisk

schedule 14 October 2020
Opr./edited by NN

Panattoni has started construction work on a factory for the Polish subsidiary of Danfoss in Grodzisk Mazowiecki, about 40 km west of Warsaw. The 12,950 sqm building will be equipped with several environmentally friendly systems to make it highly energy-efficient and also provide improved conditions for the workforce of around 400 people.

Eurobuild Awards

POLAND The selection process for the Developers of the Year is underway!

schedule 14 October 2020
Eurobuild Conferences

As usual, this year Eurobuild will be honouring the best developers who are active in Poland and the Central and Eastern European region. We’re looking for the real stars of the sector!

Events

EUROPE Expo Real cancelled

schedule 13 October 2020
Nathan North
deputy editor

The Expo Real Hybrid Summit in Munich that was to have taken place on October 14th and 15th has been cancelled just two days before the real estate fair, due to the worsening Covid-19 situation in the city.

Latest in Investment & finance

schedule 16 October 2020

PineBridge poised to take over Benson Elliot

Global asset manager PineBridge Investments is about to acquire UK-based private equity real estate fund Benson Elliot Capital Management.

schedule 15 October 2020

EUR 105 mln loan for Eurovea extension

J&T Real Estate has obtained a EUR 105 mln syndicated loan from VÚB banka and UniCredit Bank for the construction of the residential section of the extension to its large-scale Eurovea mixed-use development in Bratislava.

schedule 12 October 2020

Capital raise for Immofinanz

Immofinanz has issued fixed-rate senior unsecured notes worth EUR 500 mln with a seven-year maturity and a 2.5 pct fixed coupon.

schedule 09 October 2020

Investment down but not out

The investment volume on the Polish commercial property market is estimated to have reached EUR 1.05 bln in Q3 2020.

schedule 09 October 2020

Sekyra buys Wenceslas Square townhouse

Sekyra Group has bought the ornate Stýblův dům townhouse on Wenceslas Square in Prague for around CZK 450 mln (app. EUR 16.6 mln).

schedule 09 October 2020

CPI launches takeover of Nova RE

Czech-based CPI Property Group has submitted a binding offer to participate in a capital increase of Italian real estate investment company Nova RE SIIQ.

schedule 08 October 2020

Investment set to recover

Investment activity in commercial property in Europe is expected to rebound to EUR 100 bln in Q4, following a robust recovery in large deals in Q3.

schedule 07 October 2020

Financing for Futurama

Pbb Deutsche Pfandbriefbank (pbb) and Helaba have jointly refinanced Futurama Business Park in Prague with a EUR 107.5 mln loan for Caerus Investment Management (Caerus IM) on behalf of a separate account client.

schedule 07 October 2020

NY court to hear appeal against CPI case dismissal

Kingstown companies Investhold and Verali, who in April 2019 filed a lawsuit in the Southern District of New York against CPI Property Group, its majority shareholder Radovan Vítek and other accused parties, are appealing against the dismissal of the case.

schedule 07 October 2020

Kingstone IM enters Poland with Katowice purchase

Munich-based Kingstone Investment Management has entered the Polish market with the acquisition of a site in Katowice.

schedule 06 October 2020

IBC sold to Generali for EUR 70.3 mln

Mint Investments has announced that it has sold the International Business Center office building in Prague’s Karlín district to Generali Real Estate Core+ Fund for a reported CZK 1.9 bln (app. EUR 70.3 mln).

schedule 06 October 2020

CTP raises issues bonds worth EUR 650 mln

CTP issued green bonds worth EUR 650 mln on October 1st 2020 – the largest debut issue by a CEE real estate company.

schedule 05 October 2020

Tatra Banka selling Bratislava offices

Tatra Banka has put up for sale one of the office buildings of its TatraCity complex near Bratislava city centre.

schedule 01 October 2020

CA Immo sells Zagrebtower

CA Immo has exited the country with the sale of the Zagrebtower office building to S Immo.

schedule 28 September 2020

EUR 170 mln loan for AFI Europe’s record transaction

AFI Europe’s recent EUR 307 mln acquisition of four Romanian office complexes from Nepi Rockcastle – the biggest deal in the history of the sector in the country – was part-financed by a syndicated EUR 170 mln loan from Erste Bank Group AG, Pbb Deutsche Pfandbriefbank and Banca Comercială Română.

schedule 28 September 2020

CTP to issue green bonds

Czech-based industrial developer CTP Invest is planning to issue fixed rate senior unsecured notes and has mandated several banks to arrange a series of fixed income investor meetings across Europe.

schedule 24 September 2020

Echo enjoys 17 pct rise in portfolio value over H1

Polish developer Echo Investment generated a net profit of PLN 10.4 mln in Q2 2020, mainly due to the appreciation in the value of its projects under construction and the handover of 222 apartments to buyers.

schedule 21 September 2020

Portivo picks up Brno Mall

Czech investment group Portiva and Micronix have bought the Central Kladno shopping centre in Brno from Crestyl for CZK 2 bln (app. EUR 74.8 mln).

schedule 21 September 2020

Vesa starts buying at Sainsbury’s

Prague-based Vesa Equity Investment has announced the acquisition of a 3.05 pct share in British supermarket chain Sainsbury’s, becoming its fourth largest shareholder.

schedule 18 September 2020

Madison buys Chmielna 89 stake

A fund managed by US investor Madison International Realty has bought a 65 pct stake in the newly completed Chmielna 89 office project in central Warsaw from Cavatina Holding.

Categories