News

Office & mixed-use development

IBM expands in two buildings

schedule 11 July 2013

ROMANIA IBM has expanded its office space and now leases almost 20,000 sqm in two buildings in Bucharest.

Hotels

Accor opens Novotel Moscow City

schedule 11 July 2013
Rafał Ostrowski
journalist

RUSSIA The 360-room Novotel Moscow City hotel has been opened.

NEPI denies wrongdoing

schedule 11 July 2013

ROMANIA New Europe Property Investments has responded to the announcement that the Argo Real Estate Opportunity Fund has begun legal proceedings against it.

C&W gives way to Activ

schedule 11 July 2013

ROMANIA Cushman & Wakefield has pulled out of Romania.

Investment & finance

ING spins off and sells Galerie Butovice offices

schedule 11 July 2013
Nathan North
managing editor (English section)

CZECH REPUBLIC ING Real Estate Finance (ING REF), the owner of the Galerie Butovice office and retail centre in Prague 13, has completed the sale of the Butovice Office Building to a Czech closed-end investment fund.

Luxury residential project underway in Timișoara

schedule 11 July 2013

ROMANIA Construction work has begun on the Mansions in the Park residential project in Timișoara.

Investment & finance

Morgan Stanley and Hines partner up in Moscow

schedule 11 July 2013
Rafał Ostrowski
journalist

RUSSIA The Morgan Stanley Real Estate Investing (MSREI) fund has sold a stake in the 205,000 sqm Metropolis shopping centre in Moscow to Hines CalPERS Russia Long Term Hold Fund (HCRLTH).

Pbb provides loan for Charter Hall acquisition

schedule 11 July 2013
Nathan North
managing editor (English section)

POLAND Pbb Deutsche Pfandbriefbank has announced that it is providing a loan of EUR 120 mln loan to a fund advised by Tristan Capital Partners for its acquisition of a Polish retail portfolio.

Hotels

Best Western to open in Opole

schedule 11 July 2013
Aneta Cichla

POLAND A new Best Western hotel is to open in the autumn in Opole. The three-star hotel on ul. Waryńskiego will offer 28 guest rooms and two suites, as well as a restaurant, a bar, and a conference room.

CCC to open in Germany

schedule 11 July 2013
Aneta Cichla

POLAND Polish footwear chain CCC is to enter the German market. The company has established a subsidiary for the country, CCC Germany, with its head office in Frankfurt.

Record Moscow shopping centre supply in Q2

schedule 11 July 2013
Rafał Ostrowski
journalist

RUSSIA Moscow’s shopping centre stock increased by 107,200 sqm gla in the second quarter of 2013, according to data from Jones Lang LaSalle

Euro Styl prepares new TriCity apartments

schedule 11 July 2013
Aneta Cichla

POLAND TriCity developer Euro Styl is preparing new residential projects in Gdańsk and Gdynia.

Small in Poznań for Monday Development

schedule 11 July 2013
Aneta Cichla

POLAND Monday Development is planning to build a small office building in Poznań.

La Senza pulls out of Polish market

schedule 11 July 2013
Aneta Cichla

POLAND Lingerie retailer La Senza has shut down the last store in the country.

Argo to take NEPI and Volksbank to court

schedule 10 July 2013

ROMANIA Argo Real Estate Opportunities Fund has announced that it has begun legal proceedings against its rival New Europe Property Investments (NEPI) and Argo’s lender Osterreichische Volksbanken-Aktiengesellschaft (Volksbank).

Retail & leisure

GTC shuts up shop in Suceava

schedule 10 July 2013

ROMANIA Globe Trade Centre has closed Suceava Mall in north-eastern Romania after the withdrawal of its anchor Penny Market.

Hotels

Hotel Praha demolition provokes fury

schedule 10 July 2013
Nathan North
managing editor (English section)

CZECH REPUBLIC PPF group, which bought the Hotel Praha in Prague last month, has confirmed plans to demolish the communist-era building.

Eften finalises purchase of five Estonian properties

schedule 10 July 2013

ESTONIA Eften Real Estate Fund has acquired a portfolio of five Estonian assets from EPI Baltic I for EUR 30.5 mln.

Hotels

Four Seasons opens in Petersburg

schedule 10 July 2013
Rafał Ostrowski
journalist

RUSSIA The Four Seasons Hotel Lion Palace has opened in St Petersburg.

Avrig 35 stake to be sold

schedule 10 July 2013

ROMANIA Two investors have expressed an interest in purchasing a 30 pct stake in developer Avrig 35, local media reports.

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