Investment &amp; finance

RUSSIA Commercial real estate investment volume is expected to grow to USD 4.5 bln this year, according to JLL.

C&W: Investment expected to grow by 6 pct

12 January 2017

EUROPE Despite economic and political uncertainty investor activity on the European real estate market in 2017 is expected to grow by 6 pct, according to a report by Cushman & Wakefield’s European Capital Markets team. It is likely to be driven by the weakening of bond prices and investors interest in safe but growth-orientated opportunities.

Official approval for Eko Holding takeover

11 January 2017

POLAND The Office of Competition and Consumer Protection [UOKiK] has approved the acquisition of Eko Holding by Eurocash on the condition of the sale of three Eko Holding stores: two in Podkarpackie Province (Gniewczyna Łańcucka and Zarzecze) and one in Opolskie Province (Chróścice). e

Orbis sells two hotels

11 January 2017

Tomasz Szpyt-Grzegórski

POLAND Orbis has disposed of two hotels in Częstochowa but both will continue to operate under their current brands.

More Robyg by the sea

10 January 2017

POLAND Robyg has purchased a 4.6 ha property in Gdańsk’s Sródmieście district for EUR 10 mln.

Echo gives out generously over Christmas

10 January 2017

POLAND Echo Investment is paying out dividends of PLN 400 mln to its shareholders, with the first tranche representing the second such payment made in 2016 after paying dividends worth PLN 2.175 bln earlier that year.

Galeria Świdnicka changes hands

POLAND Rank Progress has signed a preliminary contract to sell the Świdnica shopping centre for PLN 26.7 mln to Calioppe Investments.

Txm lists on stock exchange

Anna Pakulniewicz

POLAND On December 29th, discount clothing store chain Txm issued PLN 20 mln worth of shares on the Warsaw Stock Exchange representing 8.8 pct of the voting rights in the company and 12 pct of the increased capital stock of the firm.

Murapol strengthens position in Toruń and Katowice

POLAND Murapol Group has completed the purchase of land in Toruń on ul. Strobanda and has acquired a plot in Katowice on ul. Bytkowska.

Getin finances Soho Verbel project

Ewa Andrzejewska

POLAND Soho Verbel, the developer of the Soho Factory residential project in Warsaw’s Praga Południe district, has been granted an investment loan from Getin Noble Bank worth PLN 22.7 mln.

Technopolis Ülemiste granted EUR 11 mln loan

Anna Pakulniewicz

ESTONIA Technopolis Ülemiste has been granted an EUR 11 mln loan by Swedbank to finance the construction of a 13-storey office building in the Ülemiste City business district in Tallinn.

North-West Logistic Park finally changes hands

05 January 2017

Rafał Ostrowski
journalist

POLAND American investor Exeter Property Group has finalised the purchase of the North-West Logistic Park in Szczecin.

P3 sale completed

05 January 2017

EUROPE The EUR 2.4 bln acquisition of warehouse developer P3 by Singapore’s sovereign wealth fund GIC from TPG Real Estate and Ivanhoé Cambridge has been completed after the granting of official approval by EU regulators. The deal represents one of the largest European real estate transactions of 2016.

Rafał Ostrowski
journalist

Echo sells Cracovia to Ministry of Culture

05 January 2017

POLAND The Ministry of Culture and National Heritage has bought the former Cracovia hotel building in Kraków from Echo Investment for PLN 29 mln plus VAT. The new owner plans to use the property as the location for The National Museum’s gallery of design and architecture.

Warsaw Westin sold to Qatari group for EUR 56 mln

Nathan North
managing editor (English section)

POLAND Skanska has sold the five-star Westin hotel in central Warsaw to Qatari investor Al Sraiya Holding Group for EUR 56 mln.

Arcona buys Skwer Handlowy chain

Nathan North
managing editor (English section)

POLAND Real Estate Central Europe Group (RECE) has finalised the sale of eight Skwer Handlowy retail and service facilities with a combined area of more than 16,000 sqm to Dutch investor Arcona Property Fund for an undisclosed sum.

Prosta Tower changes hands

Tomasz Cudowski
editor-in-chief

POLAND Marvipol has agreed to sell the Prosta Tower office building in Warsaw to Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft (CSAM Immobilien KAG) for EUR 26.8 mln net (or PLN 119.26 mln based on that day’s exchange rate).

Funding for Belarus mall