Investment &amp; finance

POLAND The Polish Financial Supervision Authority (KNF) has approved the prospectus of Victoria Dom for a planned public bond issue on the Catalyst market of the Warsaw Stock Exchange. In total 500,000 securities with a nominal value of PLN 100 are to be offered by the NWAI brokerage house.

EPP raises EUR 150 mln on JSE

07 April 2017

POLAND Echo Polska Properties has raised ZAR 2.2 bln (app. EUR 150 mln) on the Johannesburg Stock Exchange.

Etalon sees higher revenue and lower profit

RUSSIA Etalon Group has recorded over RUB 49 bln revenue for 2016 – 16 pct more than in 2015.

EBRD interested in Griffin shares

Tomasz Cudowski
editor-in-chief

POLAND Griffin Premium RE has concluded a framework agreement with the European Bank for Reconstruction and Development for the latter to purchase a stake in the company in a public offer that is currently in progress. EBRD can purchase 5 to 10 pct of Griffin Premium RE’s stock for a maximum price of EUR 20 mln.

“Second-best year in history” claims UBM

EUROPE UBM development has announced the results of the second-best year in its history.

MLP issues bonds and buys land in Germany

POLAND/GERMANY MLP Group is to issue bonds worth up to EUR 50 mln with the proceeds largely earmarked to finance the company’s planned international expansion.

Immofinanz ends seven-year dispute

EUROPE Immofinanz has announced that in principle it has reached the settlement of a dispute resulting from the company’s merger in June 2010 with Immoeast.

Seventeen parks sold, eight to go

CEE REGION Luxembourg based fund Pradera European Retail Parks SCSp has finalised the acquisition of 17 retail properties in Germany, France and Poland from Ikea as part of a EUR 900 mln deal negotiated in March to acquire 25 retail parks.

EUR 1.19 bln spent in the Baltics

Anna Pakulniewicz

BALTIC STATES Investment volume in commercial real estate reached EUR 1.19 bln in 2016, according to figures from Colliers International.

PKP hand in hand with the Post office

POLAND Polish State Railways (PKP), the Polish Post Office and PKP’s developer subsidiary Xcity Investment have signed a letter of intent to jointly develop land owned separately by the state enterprises.

Altus invests in Tower

POLAND Institutional investor Altus Investment Fund has bought a 5.49 pct stake in commercial developer Tower Investments. It is the second investment fund, after Trigon TFI, to invest in Tower Investment shares.

Slow first quarter for Russian investment

Rafał Ostrowski
journalist

RUSSIA In Q1 2017, Russia’s real estate investment volume reached USD 830 mln, down 18 pct y-o-y, according to JLL. However, the agency expects investments to grow in the near future. According to its forecasts for 2017, this figure will reach USD 4.5 bln compared to USD 4.2 bln in 2016.

Loan for Nowe Tysiąclecie

Tomasz Szpyt-Grzegórski

POLAND J.W. Construction Holding has obtained a loan for the construction of the third stage of an estate in Katowice.

Philips lighting turns a profit

04 April 2017

EUROPE Philips Lighting has announced its results for 2016, its first year of operations as a standalone company.

Loan for Marvipol and Panattoni

04 April 2017

POLAND PDC Industrial Center 63, a joint venture company of Marvipol and PG Europe has signed a loan agreement with BGŻ BNP Paribas to develop 70,000 sqm logistic and warehouse complex near Grodzisk

Helaba provides financing for CPI CBRE GI deal

04 April 2017

POLAND/CZECH REPUBLIC Helaba has granted CPI Property Group a loan of EUR 354m loan for the purchase of three shopping centres and one mixed use building.

BH acquires sixth property

Anna Pakulniewicz

ESTONIA Following a capital raising, the Baltic Horizon evergreen fund has purchased the headquarters of Danish security company G4S in Tallinn and now has a portfolio of six buildings in the Baltic capital cities worth over EUR 100 mln.

Inpro sells less but makes more

POLAND TriCity-based developer Inpro Group generated PLN 29.3 mln of consolidated net profit in 2016 (up from PLN 25.8 mln in 2015) and sales revenue of PLN 204.6 mln – 3 pct less than last year, but with a net increase in profitability from 12 pct to 14 pct. Apartments sold by the group brought in app. PLN 178 mln gross. In 2017 the group intends to have 718 new apartments and houses available for purchase.

Murapol closes Poznań purchase

Anna Pakulniewicz

POLAND Murapol Group has finalised the purchase of a 0.77 ha plot on ul. Karpia in Poznań.

Erbud adds to portfolio