Poland Half a billion loan for Varso Place

Investment & finance
A consortium of four banks has granted HB Reavis a EUR 475 mln loan to refinance its Varso Place development in the centre of Warsaw – the largest transaction of its kind in the history of the Polish real estate market.
The financing has been granted by a consortium of banks comprising: Santander Bank Poland as loan agent and underwriter (EUR 165 mln), Bank Pekao as collateral agent (EUR 85 mln), as well as Helaba (EUR 125 mln) and Berlin Hyp (EUR 100 mln) as original lenders. The refinancing has the increased value of the original loan from EUR 350 mln to EUR 475 mln. In challenging times, we remain a stable and reliable partner for the leading financial institutions in the region. This bodes well for the l
Already have an account? Log in
63% of content remaining
Unlock full access to the article
PLN
EUR
Lifetime access to current material
One-time payment, lifetime access.
Choose
Access includes
  • Lifetime access to current material
Most popular
EurobuildCEE magazine & online subscription
Access to all EurobuildCEE materials
Monthly
Annually
You save 17% when paying annually
Monthly on one device. Annual payment
Monthly on one device. Monthly payment
Choose
Access includes
  • Access to EurobuildCEE magazine edition online & flipbook version
  • Exclusive news, comments, articles and interviews with the most important market representatives and experts
  • Archive containing data and information from the commercial real estate and construction market in Poland and the CEE region, collected over 27 years;
  • Eurojobs
  • Eurobuild FM

Latest news

Sponsored article

Poland The FORM builds on proven performance at Rondo Daszyńskiego

schedule 09 September 2026

With occupier demand increasingly focused on prime, well-located buildings, Warsaw’s office market is becoming more selective. Around Rondo Daszyńskiego, one of the city’s most established business locations, this trend is particularly visible. The FORM is among the office assets benefiting from this shift: since opening in early 2025, it has become fully leased, attracted a diversified mix of public- and private-sector occupiers, and demonstrated substantial day-to-day use. Its performance to date, combined with the continued evolution of the surrounding district, reinforces its position as a trophy office asset.

Office & mixed-use development

Poland Flint Group extends Łódź 1 lease

schedule 14 September 2026
Opr./edited by AH

Flint Group Packaging Solutions has renewed its lease at the Łódź 1 office building at al. Piłsudskiego 22. The company will remain at its current headquarters, occupying 3,328 sqm. The decision followed a review of the office space available on the Łódź market.

Investment & finance

Poland Planning reform redraws the land market

schedule 14 September 2026
Opr./edited by AH

Poland’s planning reform is changing the way land is valued, according to Walter Herz. Plots covered by a local zoning plan (MPZP), a legally binding zoning decision (WZ) or with secured development potential are gaining value, while sites without a clear path to development are becoming increasingly risky. As a result, planning risk is emerging as a key factor in land values, with investors increasingly willing to pay for greater certainty over the development process.

Retail & leisure

Poland Retailers rethink the role of technology

schedule 14 September 2026
Opr./edited by AH

Consumers are increasingly tired of technology overload and excessive personalisation, while physical stores can benefit from offering something the digital world cannot: the freedom to discover products, interact with them and take a break from screens. This is according to the latest JLL survey of more than 1,100 consumers.

Residential

Poland Apartments remain a top investment

schedule 14 September 2026
Opr./edited by AH

Poles continue to see apartments as one of the most attractive ways of investing their money, according to Otodom’s ‘Property Market Sentiment Monitor’. The report shows that 57 pct of respondents consider an apartment a good investment, rising to 67 pct among those planning to buy a property from a developer. At the same time, a growing range of instruments allows investors to gain exposure to housing-market financing without buying a property. One such instrument is the mortgage-covered bond, which gives individual investors access to mortgage-market financing.

Residential

Poland MTX plans Katowice tower

schedule 14 September 2026
Opr./edited by AH

MTX Development is planning a 133m residential tower at ul. Chorzowska 1 in Katowice, directly opposite the Spodek arena. The developer submitted an application for a zoning decision in December 2025, while Konior Studio has unveiled a visualisation of the project’s architectural concept.

Retail & leisure

Poland Retail parks become local hubs

schedule 14 September 2026
Opr./edited by AH

Retail parks are increasingly becoming local hubs for everyday needs, particularly in smaller towns. According to a study by Cushman & Wakefield Poland, 76 pct of people in Poland under the age of 40 visit a retail park at least once a week to shop. Among people aged over 40, the figure is 59 pct.

Office & mixed-use development

Poland Colliers to lease UREM Poland portfolio

schedule 14 September 2026
Opr./edited by AH

UREM Poland has appointed Colliers as the exclusive leasing agent for its Warsaw office portfolio, comprising Wronia 31, Uniqa Forum and Carpathia Office House. Together, the three properties offer more than 31,700 sqm of office space.

Retail & leisure

Poland M Core acquires Galeria Chełm

schedule 14 September 2026
Opr./edited by AH

LCP Poland, part of M Core, has completed the acquisition of Galeria Chełm from Equilis and Acteeum. The value of the transaction was not disclosed. The acquisition expands LCP Poland’s portfolio by more than 17,000 sqm of retail space and 55 tenants.

Office & mixed-use development

Poland ADC stays on in Francuska

schedule 14 September 2026
Opr./edited by AH

ADC, part of the Drees & Sommer Group, has extended its lease agreement with GTC and expanded its space at the Francuska Office Centre in Katowice. The company’s office will now occupy approximately 570 sqm.

Warehouse & industrial

Poland Warehouse vacancy falls to three-year low

schedule 11 September 2026
Opr./edited by AH

The vacancy rate in Poland’s warehouse market fell to 6.6 pct at the end of June, its lowest level in three years. At the same time, gross take-up rose 21 pct year-on-year in the first half of 2026, reaching 3.51 mln sqm, according to CBRE data.

Warehouse & industrial

Poland Automation becomes key in warehouse selection

schedule 11 September 2026
Opr./edited by AH

Automation is becoming an increasingly important factor in warehouse selection and lease negotiations in Poland. At the same time, tightening availability could prompt more tenants to consider build-to-suit projects, according to Knight Frank. The vacancy rate fell to 6.6 pct at the end of the second quarter of 2026, its lowest level in three years.

Warehouse & industrial

Poland Poland’s industrial and logistics stock now more than 38 mln sqm

schedule 11 September 2026
Opr./edited by AH

Poland’s modern industrial and logistics stock surpassed 38 mln sqm at the end of June, according to a report by BNP Paribas Real Estate Poland. Around 0.6 mln sqm was delivered in the second quarter, 11.4 pct less than in the previous quarter. Over the past four quarters, new supply totalled around 1.8 mln sqm, down 16.2 pct year-on-year.

Warehouse & industrial

Mozano Leases Nearly 4,600 sqm at MLP Business Park Łódź

schedule 11 September 2026
Opr./edited by AH

Household appliance manufacturer Mozano has leased nearly 4,600 sqm at MLP Business Park Łódź. The company will occupy around 4,500 sqm of warehouse space and nearly 100 sqm of office and staff space.

Retail & leisure

Poland Pasaż Łańcucki 90 pct commercialised

schedule 11 September 2026
Opr./edited by AH

Refield is developing Pasaż Łańcucki, an 11,200 sqm retail park in Łańcut, southeastern Poland. The project is being developed on a 3.5 ha site located on Przemysłowa Street, adjacent to Provincial Road No. 877. The development is being delivered on behalf of local investor Bispol Invest, with the opening scheduled for September 2027.

Investment & finance

Romania Nusco secures EUR 21.4 mln financing from Exim Banca Românească

schedule 11 September 2026
Opr./edited by AH

Romanian developer Nusco has signed a EUR 21.4 mln financing agreement with Exim Banca Românească.

Investment & finance

CEE region CEECAT Capital raises EUR 135m at first close of third fund

schedule 11 September 2026
Opr./edited by AH

CEECAT Capital has raised EUR 135 mln at the first close of its third fund, targeting EUR 200 million and with a EUR 250 million hard cap.

Hotels

Estonia Bob W to open fifth Tallinn property at Krulli Quarter

schedule 11 September 2026
Opr./edited by AH

Bob W has signed a long-term deal to operate a new aparthotel at Krulli Kvartal, part of the 10.2 ha regeneration of the historic Krulli industrial quarter in Tallinn. The property is scheduled to open in the first quarter of 2028.

Warehouse & industrial

Poland Jiffy stays on in Gliwice

schedule 10 September 2026
Opr./edited by AH

Segro has extended its lease with Jiffy Packaging at Segro Logistics Park Gliwice. Under the agreement, Segro will modernise the 21,600 sqm production and warehouse facility that Jiffy Packaging has occupied since 2007.

Residential

Poland RealCo sells out Wrocław project

schedule 10 September 2026
Opr./edited by AH

RealCo has sold all 133 apartments at its Apartamenty przy Parku Szczytnickim project in Wrocław. The apartments are spread across 10 buildings. The developer currently has two other projects on sale in the city: Nowa Pabianicka and Elewator. Mieszkania i Lofty.

Latest in Investment & finance

schedule 14 September 2026

Planning reform redraws the land market

Poland’s planning reform is changing the way land is valued, according to Walter Herz. Plots covered by a local zoning plan (MPZP), a legally binding zoning decision (WZ) or with secured development potential are gaining value, while sites without a clear path to development are becoming increasingly risky. As a result, planning risk is emerging as a key factor in land values, with investors increasingly willing to pay for greater certainty over the development process.

schedule 11 September 2026

Nusco secures EUR 21.4 mln financing from Exim Banca Românească

Romanian developer Nusco has signed a EUR 21.4 mln financing agreement with Exim Banca Românească.

schedule 11 September 2026

CEECAT Capital raises EUR 135m at first close of third fund

CEECAT Capital has raised EUR 135 mln at the first close of its third fund, targeting EUR 200 million and with a EUR 250 million hard cap.

schedule 10 September 2026

Poland attracts EUR 3.06 bln in commercial real estate investment in H1

Poland’s commercial real estate market attracted EUR 3.06 bln in investment in the first half of 2026, up 72 pct from a year earlier. According to Colliers’ 'Market Insights H1 2026' report, Poland was once again the largest investment market in Central and Eastern Europe, accounting for more than half of the region’s total investment volume.

schedule 09 September 2026

Bucharest’s appeal rises

Bucharest is gaining ground among Europe’s more attractive real estate markets, supported by rental growth across major sectors and investment yields that remain well above Western European levels, according to Cushman & Wakefield’s ‘DNA of Real Estate Europe Q2 2026’ report.

schedule 07 September 2026

Poland strengthens its position among developed markets

Poland is strengthening its position among developed markets. S&P Dow Jones Indices has decided to reclassify the country from an emerging to a developed market. The change will take effect in September 2027, when Poland will join the S&P Developed BMI as the 27th country in the index. FTSE Russell and STOXX already classify Poland as a developed market.

schedule 07 September 2026

Romanian Investors Step Up Commercial Real Estate Activity

Romanian investors have acquired commercial real estate worth a combined EUR 2.066 bln over the past 20 years, with 69 pct of that capital invested since 2020, according to Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance.

schedule 04 September 2026

De Silva City acquires four hotels from Essendi Poland

Polish hotel company De Silva City has acquired four hotels from Essendi Poland in Warsaw and Szczecin. The value of the transaction was not disclosed.

schedule 01 September 2026

W. P. Carey completes EUR 52 mln sale-leaseback with Purmo

W. P. Carey has completed a EUR 52 mln sale-leaseback of two industrial properties in Wałcz and Rybnik, Poland, used by Purmo Group. Totalling approximately 83,400 sqm, the properties have been leased back to Purmo under a 20-year triple-net agreement with annual CPI-linked rent increases.

schedule 28 August 2026

CEE commercial real estate market sees strong rebound

The first half of 2026 brought a clear recovery in the Central and Eastern European commercial real estate market. Investors in the six countries analysed completed transactions worth a combined EUR 5.5 bln, up 20 pct year on year. More important than the increase in volume, however, is the return of large deals across multiple sectors and most markets in the region.

schedule 27 August 2026

Global Vision Acquires Two Office Towers in Charles de Gaulle–Dorobanți Area

Global Vision has acquired a property comprising two office towers in Bucharest’s Charles de Gaulle–Dorobanți area, in a deal worth several tens of millions of euros.

schedule 26 August 2026

European real estate investment picks up pace

Investment in European real estate reached around EUR 53 bln in Q2 2026, up 6 pct year on year. The transaction volume came to more than EUR 100 bln in the first half of the year. Poland was among the countries where investment activity grew fastest.

schedule 26 August 2026

Romania’s new planning code could reshape real estate development

Romania’s new Territorial Planning, Urbanism and Construction Code (CATUC) changes how real estate projects are planned, approved and developed. For Dan Craciunescu, founder of West Group, which operates in both Romania and Germany, the new Code introduces principles that bring Romania closer to practices used in the German market and could provide a more predictable framework for urban planning.

schedule 24 August 2026

Henley sells Poznań shopping centre Galeria Pestka

Henley has completed the sale of Galeria Pestka, a 41,658 sqm shopping centre in Poznań, Poland, to OPAL CENTRES, part of DromeStar Group. During Henley’s ownership, annual footfall rose from 4.8 mln to 5.1 mln, returning above pre-pandemic levels, while occupancy remained above 95 pct.

schedule 20 August 2026

Retail takes a third of Q2 investment

Retail accounted for 36 pct of total commercial real estate investment in both Poland and Italy in Q2 2026, the highest share among the eight European markets reviewed in the latest Focus Estate Fund ‘Quarterly Litmus Paper’. The report points to sustained investor demand for retail parks and food-anchored assets, supported by low vacancy, resilient consumer spending and a constrained supply of high-quality space.

schedule 19 August 2026

Lett takes Gdańsk PRS portfolio to 646 units

Cavare by Cavatina will develop a 310-unit PRS project in Gdańsk for Urban Partners’ Lett platform. Once completed, Palio D1 will operate as Lett Stocznia, bringing Lett’s portfolio at the Palio complex to 646 units.

schedule 18 August 2026

EPP takes EUR 106 mln in financing

EPP has completed the EUR 106 mln refinancing of four M1 shopping centres in Bytom, Częstochowa, Poznań and Radom. The refinancing supports the company’s efforts to optimise its capital structure. Absa Corporate and Investment Banking and Nedbank Corporate and Investment Banking (Nedbank CIB) provided the financing in equal shares.

schedule 18 August 2026

Horizon City wins financing

Horizon City, a residential being project developed by British investor Ghai Sant Ram in northern Bucharest, has secured EUR 36.5 mln in financing from Libra Internet Bank. The funds will be used to continue and accelerate construction works, with full project completion targeted for the first half of 2027, six months earlier than initially announced.

schedule 17 August 2026

Polish office investment market sees strong first-half recovery

The first half of 2026 saw a clear recovery in investment activity on Poland’s office market. Total transaction volume reached around EUR 594 mln, up 38 pct year-on-year.

schedule 17 August 2026

City centre site up for sale in Reda

Nine plots totalling 4.4 ha are being put up for auction, with the site offering an opportunity to create Reda’s first city centre.

Read flipbook version

Edition 6 (308) June 2026

Latest comments

Categories

Your order
Your data
Number of access accounts
Each account provides independent access on one device. You will be able to create additional access accounts in the account settings.
Invoicing data
Order summary
Net price
Access accounts #
Net order
VAT (%)
Gross order
Payment security is ensured

Don`t miss out the current edition