News

CZECH REPUBLIC By the end of the year, total modern office stock in Prague exceeded 2.88 mln sqm, according to the Prague Research Forum. Class ‘A’ properties represent 70 pct of this stock.

Eften Real Estate Fund acquires Hotel Palace in Tallinn

ESTONIA Eften Real Estate Fund and AS Esraven in a 50:50 joint venture have purchased the Hotel Palace on Vabaduse väljak (‘Freedom square’) in Tallinn from Scandic Hotels for an undisclosed price. Eften has announced that the building is to be fully renovated.

CBRE to manage KPP Retail portfolio

POLAND CBRE is to take over the management and leasing of the Graf shopping centre (4,530 sqm) in Chełm, a Castorama DIY store in Skierniewice, a Biedronka grocery store in Koszalin, the Galeria Sieradzka mall (7,900 sqm) in Sieradz as well as a shopping centre in Brzeg.

Dirks in Skalski-Logistic Park

POLAND Dirks Consumer Logistics has leased 20,000 sqm of warehouse and office space in Skalski-Logistic Park near Wrocław.

Valad takes control of GE Capital’s Polish Retail Fund

POLAND Real estate investment manager Valad has acquired the investment adviser and asset management teams of GE Capital Real Estate’s Polish Retail Fund for an undisclosed price.

Three offers for A4 completion

POLAND Three offers have been submitted to complete an almost 35 km section of the A4 motorway from the Krzyż interchange in Tarnów to Dębica.

Second stage of Poleczki Business Park awarded ‘Gold’

POLAND The second stage of the Poleczki Business Park complex in Warsaw, which is being developed by UBM and CA Immo, has been awarded LEED ‘Gold’ for ‘Core and Shell’.

Galeria Bem to open in April

POLAND The Galeria Bem shopping centre in Zambrów is to open on April 27th.

Próchnik buys Rage Age

POLAND fashion retailer Próchnik has bought the Rage Age clothing brand for PLN 18 mln. The transaction has been financed through the issue and acquisition of I series shares.

Universal sale

POLAND The court appointed administrator of Metro-Projekt has announced the former headquarters of Universal Foreign Trade Centre.

More space needed in Lublin

POLAND H&M, Carry and CCC have decided to increase the size of the stores that they plan to open in the Atrium Felicity shopping centre in Lublin, which is currently under construction.

Better results for LPP

POLAND The LPP capital group has reported improved sales revenue for Q4 2012 amounting to PLN 962 mln. This represents a 22 pct increase on the previous year.

Warsaw leaves Vienna, Rome and Madrid behind

POLAND The commercial property market in Warsaw is one of the most attractive in Europe, according to the ‘Emerging Trends in Real Estate Europe 2013’ ranking drawn up by PwC and the Urban Land Institute.

IKEA sees strong growth in 2012

POLAND Inter IKEA Centre Group Poland has released its results for 2012 and reported an increase in footfall at its retail parks and shopping centres, an increase in turnover of over 9 pct, nearly 50 newly signed leases as well as 150 lease extensions and the repositioning of two retail parks.

Construction volumes down but order books filling

HUNGARY Construction output in Hungary contracted by 5.9 pct y-o-y in 2012 and by 3.1 pct in December, according to data from the Hungarian Central Statistical Office (KSH).

BNP Paribas in Coresi Business Park

ROMANIA BNP Paribas Group has leased 500 sqm in Coresi Business Park in Brașov for three of its subsidiaries: Cetelem, BNP Paribas Leasing Solutions and Arval.

White & Case in Na Příkopě 14

CZECH REPUBLIC Law firm White & Case has leased 4,300 sqm of office space in the Na Příkopě 14 mixed-use building in Prague, which is being developed by Lordship and Immofinanz Group.

CPI makes offer for Ablon

CEE REGION CPI has indicated that it is considering a possible takeover for Ablon at a price of GBP 0.225 per ordinary share in cash, valuing the company's entire issued share capital at GBP 30.8 mln (app. EUR 37.5 mln).

Penta secures EUR 113 mln refinancing for Digital Park

SLOVAKIA Penta has secured EUR 113 mln in refinancing for its Digital Park office project in Bratislava. The loan is to be used to refinance existing loans for the construction of Digital Park I and II and finance construction work on Digital Park III.

Helical demands payment from BNP Paribas

18 February 2013