News

Polish developers take out less loans

POLAND In the last year, the process of obtaining property bank financing in Poland has become more difficult for developers, while the activity of the cooperative banks in providing this kind of backing decreased. Meanwhile, the largest creditors’ market share improved, according to a study by the Polish Association of Development Companies (PZFD).

Investment & finance

GLL buys Wenceslas Square diamond

CZECH REPUBLIC The Diamant building on Wenceslas Square in Prague has been bought by a German-based fund manager GLL Real Estate Partners (represented by SPI) for an undisclosed sum.

Office & mixed-use development

Two new faces in West Gate

POLAND Enel-Med has leased 300 sqm for a medical centre and K&D Foods has taken up 320 sqm for a canteen in the West Gate building in Wrocław.

Residential

Nexity apartment project to start in Bemowo

POLAND French construction firm RD Bud has been chosen to the general contractor of the My Bemowo residential development in Warsaw.

Aedes to build Bytom factory

POLAND Kraków-based construction company Aedes won a PLN 47.1 mln contract to complete the latest stages of construction of the Petralana mineral wool factory in Bytom.

Hotels

US giant opens another airport hotel in Moscow

RUSSIA US-based hotel group Carlson Rezidor has opened a Radisson Blu-branded hotel at Moscow Sheremetyevo airport, which the company claims to be "the first and the only" international hotel directly connected to the airport.

Poznań Puro hotel stuns with glazed bathrooms

POLAND The newly-opened Puro hotel in Poznań, designed by the British hospitality interior design agency Blacksheep, features a range of interesting solutions.

Retail & leisure

Malta tempts new tenants

POLAND Three new retailers, Monnari, Pretty Girl and Ziaja, have joined the list of Galeria Malta’s tenants. The Poznań shopping and entertainment centre will now also house an English Home store with home decor goods.

Residential

Yareal launches largest Warsaw project

POLAND The apartments in Yareal’s Kolorowy Gocław project in Warsaw, the company’s largest development so far which is being developed at the junction of ul. Międzyborska and ul. Jana Nowaka-Jeziorańskiego, have been put up for sale.

Office & mixed-use development

Erbud to finish off Eurocentrum

POLAND Capital Park has selected the general contractor for the second stage of its Eurocentrum Office Complex in Warsaw, which will involve constructing the Delta office building. For completing the task Erbud will cash in a net amount of nearly EUR 22.5 mln.

Warehouse & industrial

Panattoni allocates EUR 150 mln for CEE projects

CEE REGION Panattoni Europe has added another EUR 150 mln to a recently announced EUR 200 mln investment plan for new development.

Investment & finance

Augustine Hotel sold to Russian investor

CZECH REPUBLIC Russian private investment firm GledenInvest has completed the acquisition of the five-star plus Augustine Hotel in Prague’s Malá Strana district from Raiffeisen Evolution.

Warehouse & industrial

Prologis takes over 23 CEE Heitman warehouses

CEE REGION Prologis has acquired a nearly 230,000 sqm portfolio of 23 Heitman-owned warehousing properties in Poland, Slovakia and Czech Republic through its investment arm, Prologis European Properties Fund II (PEPF II).

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East Capital buys Baltic grocer’s EUR 13.4 mln premises

ESTONIA Stockholm-based asset manager East Capital has acquired the logistics centre and offices owned and occupied by the Baltic grocery retailer Rimi Eesti Food near Tallinn, worth EUR 13.4 mln.

Retail & leisure

LPP showroom opens in Warsaw

POLAND LHI, the developer of Chmielna 25, a retail and office building, has leased 450 sqm to the Polish fashion retailer LPP.

Residential

Budimex extends Mokotów estate

POLAND Budimex Nieruchomości has broken ground for the second stage of the Wiślany Mokotów residential estate on ul. Bluszczańska in Warsaw and started to sell the 246 apartments it will provide. These, ranging from 31 to 93 sqm, will be situated in three-storey buildings.

Office & mixed-use development

Polish Civil Aviation Authority to stay in Flanders Business Park

POLAND The Polish Civil Aviation Authority (Urząd Lotnictwa Cywilnego) has renewed and slightly extended its five year lease in the Flanders Business Park office complex in Warsaw.

AFI completes EUR 32 mln financing for Bucharest project

ROMANIA AFI Europe has finalised a EUR 32 mln loan it was given by Erste Group-owned Banca Comerciala Romana (BCR) to develop its two Bucharest office buildings, AFI Park 2 and AFI Park 3.

Retail & leisure

Warsaw sees retail calm before the storm

POLAND Although in H1 2014 the Warsaw commercial property market provided the largest retail space supply across Poland, with 1.1 mln sqm of shopping centre stock, the market was also determined by one of the lowest shopping centre density rates, 438 sqm per 1,000 residents. This, coupled with such factors as the highest spending power and a constant inflow of new residents, has created a window of opportunity for new retail projects of different size and format, says JLL in its report.