PL

HUNGARY CPI transfers Budapest portfolio to S Immo

Investment & finance
Vienna-based S Immo has finalised the acquisition of eight office buildings and a plot of land in Budapest from its new parent company and majority shareholder, Prague-based CPI Property Group, for EUR 238.3 mln.

The purchase, following the signing of letters of intent in September, is expected to increase the company’s annual rental income by around EUR 16 mln through the transfer of around 109,000 sqm of leasable space to S Immo’s office portfolio. The letters of intent also include an agreement for the eventual transfer of an office portfolio in Budapest to S Immo owned by Immofinanz, which has also been taken over by CPIPG this year.

The eight properties include Gateway Office Park, Arena Corner, Andrássy Palace and the five buildings of BC99 Office Park.

It is our declared goal to position S Immo as a major player in its markets with regard to office properties. With this purchase, we have taken a major step in this direction and added high-quality properties to our portfolio. This will strengthen the company’s earning power and secure its cash flow for the coming years. At the same time, it utilises the operational synergies in Hungary and thus increases the long-term value of S Immo as an important member of CPI Property Group.
Herwig Teufelsdorfer, a management board member of S Immo

The transaction is a related-party transaction and is thus not included in CPIPG’s EUR 2 bln external disposal pipeline. CPIPG has held a 79.2 pct stake in S Immo since August.

Latest news

Warehouse & industrial

POLAND Bidfood first into biggest Prologis spec shed

schedule 27 January 2023
Opr./edited by NN

Catering products supplier Bidfood Farutex has become the first tenant of Prologis’ largest ever speculative building, having leased 9,795 sqm at Prologis Park Wrocław III.

Office & mixed-use development

Poland Interest and optimisation

schedule 27 January 2023
Opr./edited by ANZ

In 2022, the demand for offices in Warsaw exceeded 860,000 sqm. The highest tenant activity could be seen in Q1 and Q4 of the previous year. Traditionally, most Warsaw offices were contracted by companies from the financial sector, business services and the IT industry.

Retail & leisure

POLAND Forum Gdańsk has new manager

schedule 27 January 2023
Opr./edited by ANZ

In January 2023, Sierra Balmain commenced cooperation in the field of lease management and the provision of financial and corporate accounting services for the Forum Gdańsk shopping centre, owned by NEPI Rockcastle.

Retail & leisure

POLAND Dawna Fabryka to replace former factory

schedule 26 January 2023
Opr./edited by NN

The Dawna Fabryka retail park is to be built on the site of the former ZREMB Foundry near the centre of Jelenia Góra in southwestern Poland.

Investment & finance

CZECH / SLOVAKIA Arete not stopping after EUR 100 mln loan

schedule 26 January 2023
Opr./edited by NN

Czech industrial real estate investor and developer Arete is to receive more than EUR 100 mln (CZK 2.5 bln) in financing for its portfolio from a consortium of banks made up of Česká spořitelna and Slovenská sporiteľňa.

Investment & finance

CENTRAL EUROPE EUR 40 mln in debt financing for Trei

schedule 26 January 2023
Opr./edited by NN

German residential and retail developer and asset manager Trei Real Estate has obtained EUR 40 mln in debt funding from Berlin Hyp.

Office & mixed-use development

HUNGARY Orbico drinks in H2Offices

schedule 26 January 2023
Opr./edited by NN

Logistics provider Orbico Hungary has leased 1,253 sqm of office space in the first phase of H2Offices complex in Budapest.

Investment & finance

Poland Investing in times of uncertainty

schedule 26 January 2023
Opr./edited by ANZ

The investment volume of 2022 was shaped by five large deals, which accounted for 40 pct of the total result. Market liquidity fell by 27 pct, from a record 166 transactions in 2021 to 122 completed in 2022, according to experts at Avison Young.

Warehouse & industrial

Poland Panattoni to start latest giant Poznań project

schedule 26 January 2023
Opr./edited by ANZ

Panattoni has purchased a 35 ha plot for the development of Panattoni Park Poznań A2. Construction work on the complex, which has a target area of almost 150,000 sqm, is to start as early as February.

Investment & finance

Poland Develia sells Wola Retro

schedule 26 January 2023
Opr./edited by ANZ

Develia has signed a preliminary agreement for the sale of Wola Retro office building in Warsaw. The buyer is WR Office, owned by an investment fund managed by Adventum Group. The sale price was set at EUR 69.8 mln, or app. PLN 328.6 mln.

Investment & finance

Poland A heritage site for 1 percent

schedule 25 January 2023
Opr./edited by ANZ

Szczecin is putting up for sale the building of a historic oil mill, which could be transformed into an interesting mix-use project. The property can be purchased with a 99 pct. discount on the net sale price.

Warehouse & industrial

Romania LPP and CTP join forces at CTPark Bucharest West

schedule 25 January 2023
Opr./edited by ANZ

LPP has leased a 65,000 sqm facility at CTPark Bucharest West distribution and logistics centre. The deal represents the first partnership between Poland’s LPP and CTP in Europe.

Warehouse & industrial

Polska The Panattoni Park West Gate fills up

schedule 25 January 2023
Opr./edited by ANZ

Panattoni Park Poznań West Gate is nearing full commercialization - the developer has already leased around 58,000 sqm in the facility, which has a total area of 61,000 sqm. Nearly 10,500 sqm is used by DFDS, a company offering transport and logistics services.

Warehouse & industrial

Czech Republic Tailor-made 10k for Taconova

schedule 25 January 2023
Opr./edited by ANZ

Garbe is to start work on Garbe Park České Budějovice near the South Bohemian city, following the conclusion of a deal with German hydronic heating specialist Taconova to lease almost 10,500 sqm of space in the park. Another 9,500 sqm of logistics space is at the same time to be developed speculatively.

Office & mixed-use development

POLAND Aterima at home in B4B

schedule 24 January 2023
Opr./edited by NN

Senior and disabled persons home care provider Aterima Group has prolonged and extended its lease in Bonarka for Business in Kraków.

Office & mixed-use development

POLAND Schneider Electric still buzzing in Park Rozwoju

schedule 24 January 2023
Opr./edited by NN

Schneider Electric Polska renegotiated the contract and extended its lease of 8,500 sqm of office space in Park Rozwoju in Warsaw’s Służewiec business district.

Warehouse & industrial

SLOVAKIA Dirks goes gently into VGP Bratislava

schedule 24 January 2023
Opr./edited by NN

Logistics company Dirks Consumer Slovakia has leased 43,320 sqm in the first phase of VGP Park Bratislava.

Warehouse & industrial

POLAND TKD wired into MLP Pruszków II

schedule 24 January 2023
Opr./edited by NN

Cable and wire manufacturer and distributor TKD Polska has leased about 2,800 sqm at the MLP Pruszków II logistics park on Warsaw’s western outskirts.

Investment & finance

Europe Enthusiasm remains high for Duodev 2

schedule 24 January 2023
Opr./edited by ANZ

Second closing has been sealed for the Duodev 2 fund initiated by the Mestdagh and Mulliez families, proposing to invest in European real estate projects developed by Equilis. Six months after the approval of the first closing, the Duodev 2 fund continues its success.

Warehouse & industrial

Poland Panattoni launches latest Warsaw park

schedule 24 January 2023
Opr./edited by ANZ

Panattoni has purchased 4 ha of land and is soon to start construction on Panattoni Park Warsaw South III Piaseczno, where it will develop around 20,000 sqm.

Latest in Investment & finance

schedule 26 January 2023

Arete not stopping after EUR 100 mln loan

Czech industrial real estate investor and developer Arete is to receive more than EUR 100 mln (CZK 2.5 bln) in financing for its portfolio from a consortium of banks made up of Česká spořitelna and Slovenská sporiteľňa.

schedule 26 January 2023

EUR 40 mln in debt financing for Trei

German residential and retail developer and asset manager Trei Real Estate has obtained EUR 40 mln in debt funding from Berlin Hyp.

schedule 26 January 2023

Investing in times of uncertainty

The investment volume of 2022 was shaped by five large deals, which accounted for 40 pct of the total result. Market liquidity fell by 27 pct, from a record 166 transactions in 2021 to 122 completed in 2022, according to experts at Avison Young.

schedule 26 January 2023

Develia sells Wola Retro

Develia has signed a preliminary agreement for the sale of Wola Retro office building in Warsaw. The buyer is WR Office, owned by an investment fund managed by Adventum Group. The sale price was set at EUR 69.8 mln, or app. PLN 328.6 mln.

schedule 25 January 2023

A heritage site for 1 percent

Szczecin is putting up for sale the building of a historic oil mill, which could be transformed into an interesting mix-use project. The property can be purchased with a 99 pct. discount on the net sale price.

schedule 24 January 2023

Enthusiasm remains high for Duodev 2

Second closing has been sealed for the Duodev 2 fund initiated by the Mestdagh and Mulliez families, proposing to invest in European real estate projects developed by Equilis. Six months after the approval of the first closing, the Duodev 2 fund continues its success.

schedule 23 January 2023

Immofinanz – S Immo merger moves closer

Austrian real estate companies S Immo and Immofinanz have signed a framework agreement to establish a joint process to review the further alignment, coordination, merger or other forms of integration across the two groups.

schedule 23 January 2023

Liberty Tower deal done

AT Capital Group has finalised the acquisition of a plot at the junction of ul. Grzybowska and ul. Żelazna in central Warsaw from Golub GetHouse, which was planning to develop the Liberty Tower hotel and residential development on the site.

schedule 19 January 2023

FLE picks up Kopernik Offices

FLE SICAV FIS has acquired its fifth office property in Poland – the Kopernik Office Buildings complex in Warsaw from DWS for an undisclosed sum.

schedule 19 January 2023

Olympia Tower changes hands

Bluehouse Capital has sold the Olympia Tower office building in Bucharest to Gibraltar-based investor Yellow Tree for an undisclosed sum.

schedule 13 January 2023

Colliers’ prognosis for the Czech market in 2023

According to Colliers, rising energy prices, construction costs and rents, the crisis of restaurants, pressure for ESG compliance and changes in the Prague high street are the main trends that will affect the Czech real estate market in 2023.

schedule 12 January 2023

7R sells to DWS

7R, a warehouse developer, and DWS, a global real estate manager, have closed a transaction for the transfer of ownership of 7R Park Poznań East II, a warehouse park with a gross leasable area of over 51,000 sqm.

schedule 04 January 2023

Adventum to add @Expo to its portfolio

Adventum Group has signed an agreement to buy the @Expo office complex in Bucharest from its developer Atenor for an undisclosed sum.

schedule 04 January 2023

EUR 1 bln of bonds issued by Berlin Hyp

Berlin Hyp has issued its first dual tranche of Social Pfandbrief and Green Pfandbrief bonds with a combined value of EUR 1 bln, Orders for the bonds are more than 3.5 times oversubscribed.

schedule 02 January 2023

Erste lends EUR 160 mln to Globalworth

CEE office investor Globalworth has secured two financing facilities for a combined EUR 160 mln from Erste Group.

schedule 29 December 2022

Immofinanz sells six more office properties to S Immo

S Immo has completed the purchase of a 124,000 sqm office portfolio in Budapest from Immofinanz for EUR 244.1 mln.

schedule 23 December 2022

Echo sells Face2Face

Echo Investment has sold the Face2Face Business Campus in Katowice for over EUR 100 mln to Investika and Bud Holdings.

schedule 20 December 2022

One United buys three historic buildings

One United Properties has acquired for EUR 3.73 mln three historic buildings in the centre of Bucharest, which it now plans to redevelop.

schedule 20 December 2022

Union sells Poznań Maraton

Hamburg-based Union Investment has sold the Maraton office building in Poznań to a subsidiary of Austrian company Uniqa Real Estate for an undisclosed sum.

schedule 14 December 2022

Savills IM prognosis for 2023

Savills has presented its Investment Management Outlook for real estate investment markets in 2023. Urban Industrial and logistics, essential retail, affordable housing, and real estate debt likely to be safest havens in the coming year.

Categories