Investment &amp; finance

CEE REGION The one-year period between Q2 2016 to Q1 2017 set an all time record for CEE real estate investment with a total of EUR 12.2 bln according to CBRE.

Danes near Zielona Góra

08 June 2017

POLAND A Danish company has purchased a 20 ha plot in Nowa Sól, within the area of the Kostrzyn-Słubice Special Economic Zone, where it is planning to build a factory.

Echo prepares PLN 300 mln bond issue

07 June 2017

Ewa Andrzejewska

POLAND Echo Investment has announced its Q1 financial results as well as plans for a PLN 300 mln bond issue.

HUNGARY/CZECH REPUBLIC M7 Real Estate has acquired a portfolio of eleven light industrial assets in Hungary and the Czech Republic for its CEREF I fund from a joint venture of Partners Group and Cromwell Property Group.

Polnord signs conditional purchase agreement

06 June 2017

POLAND Polnord has signed a conditional purchase agreement for the right of perpetual usufruct to two plots in Gdańsk.

Warimpex finalises hotel portfolio sale

Rafał Ostrowski
journalist

CEE REGION Warimpex has finalised the sale of a hotel portfolio consisting of eight hotels in the Czech Republic, Poland and Romania to the Thai investor U City. The company announced the sale in February, when the purchase contract was still pending subject to the fulfilment of the standard closing conditions for such real estate transactions.

Echo without Tęcza

POLAND The Office of Competition of Consumer Protection [UOKiK] has approved the Echo Polska Properties takeover of shopping centres in Kłodzko, Wrocław and Zamość, however it has not consented to the takeover of Galeria Tęcza in Kalisz.

LaSalle buys RiGa I for EUR 57 mln

Nathan North
managing editor (English section)

CZECH REPUBLIC LaSalle Investment Management has acquired the River Garden I (RiGa I) office complex in Prague’s Karlín business district on behalf of its LaVA mandate for app. EUR 57 mln.

Chinese buy Logicor for EUR 12.25 bln

EUROPE Blackstone has sold its European logistics platform Logicor, to China Investment Corporation for EUR12.25 bln.

Nathan North
managing editor (English section)

Echo seals deal for Galeria Młociny

02 June 2017

POLAND EPP and Echo Investment have finalised the EUR 42 mln purchase from Rosehill Investments of the Galeria Młociny shopping centre, which is under construction in the northern suburbs of Warsaw.

Poland publishes long-awaited REIT legislation

01 June 2017

POLAND The Ministry of Finance has unveil a proposal for a bill governing companies that are to be structured as ‘Real Estate Leasing Market Companies’ [SRWN], which are to be the equivalent of a Real Estate Investment Trusts on the Polish market.

NewCo to start trading on July12th

01 June 2017

Tomasz Cudowski
editor-in-chief

CEE REGION NEPI and Rockcastle have announced full details of their merger with the prospectus for the merged company NewCo having already been approved by the Johannesburg Stock Exchange.

Mirbud twice as good

01 June 2017

POLAND In the first quarter, the Mirbud group generated revenue similar to Q1 last year and a gross profit from sales of almost PLN 4 mln.

Marvipol multiplies by dividing

31 May 2017

POLAND The division of the Marvipol group into two stock exchange-listed entities is entering its final phase.

Griffin Premium RE announces loss but plans dividend

31 May 2017

POLAND In the first quarter of 2017 the net operating income of Griffin Premium RE was over EUR 5.9 mln, up by 3 pct y-o-y. Nevertheless the company made a net accounting loss of EUR 5.1 mln, which as the company claims was mainly the “result of the strengthening of the Polish złoty against the euro”.

Galeria Świdnicka sold

31 May 2017

POLAND Calioppe Investments, owned by Catalyst Capital managed fund CEPF II. has acquired the Galeria Świdnicka mall from Rank Progress in a EUR 26.7 mln transaction that includes EUR 15.2 mln of debt financing.

Czech investment doubles in Q1 2017

Rafał Ostrowski
journalist

POLAND Czech property market investment grew in Q1 2017 by EUR 1.57 bln, which was almost double the transaction value compared to the same period last year, according to the ‘Market Overview for the Czech Republic" for Q1 2017’ report by Collierws International.

Warimpex posts profit and completes Airportcity

EUROPE Warimpex has announced that it made a profit in Q1 this year of EUR 4.7 mln, which compares to a loss of EUR 0.5 mln in the preious year.

W.P.Carey continues DIY investment

LITHUANIA/ESTONIA/LATVIA CPA:17 – Global, a REIT managed by W. P. Carey, has bought a EUR 127 mln majority stake in real estate investment vehicle Baltic Retail Properties.

Blackstone prepares to sell Logicor