Investment & finance

Improved Q2 for YIT

EUROPE Finnish developer and builder YIT Corporation generated revenue of EUR 463.7 mln (based on segment reporting) in Q2 2016, which marked an 11 pct increase on the same period of last year.

Kleba sells Olsztynek properties

POLAND KI Siedem, a subsidiary of Kleba Invest, has sold properties in Olsztynek for PLN 15 mln to an as yet undisclosed buyer.

Investment & finance

REIT awareness to be promoted

POLAND A group of real estate market experts has set up the REIT Poland association.

BZ WBK finances Ochota apartments

POLAND A Unibep SPV company under the name of Szczęśliwicka has obtained a loan from BZ WBK bank for the construction of its project on ul. Bitwy Warszawskiej 1920 r. in Warsaw.

Echo finalises Compass Offices buyout

POLAND The serviced office space provider will now operate under a new brand.

Investment & finance

Polish investment more than doubles in H1

POLAND In the first half of the year more than EUR 2 bln was invested in the Polish commercial property market – 2.5 times more than the volume for the same period the previous year, according to the latest Marketview report by CBRE.

Profit boost for GTC

CEE/SEE REGION Globe Trade Centre says its growth strategy has translated into improved financial indicators.

Investment & finance

Financing for Symetris Business Park

Echo Investment has secured a EUR 25 mln loan from BGŻ BNP Paribas.

Hunger Development secures finance for Bydgoszcz office project

POLAND DanHouse, an SPV company established by Hunger Development of Bydgoszcz, has obtained a refinancing loan from Upper Finance Consulting for an office project.

Reprivatisation act signed off

POLAND Polish president Andrzej Duda has signed the small reprivatisation act, which regulates issues related to properties confiscated under the post-war Bierut decree.

Investment & finance

Immofinanz refinances Nimbus in Warsaw

Investment & finance

Echo borrows money for Nobilis

POLAND Echo Investment has concluded a loan agreement with Mbank concerning the financing of the final stage of the Nobilis Business House office project in Wrocław.

Investment & finance

Rockcastle embarks on Polish spending spree

POLAND South African investment fund Rockcastle has signed preliminary agreements for the acquisition of three shopping centres in Poland – Bonarka City Center in Kraków, Focus Park in Zielona Góra and Focus Mall in Piotrków Trybunalski – for a total of EUR 522 mln.

Aareal optimistic about 2016

GERMANY Aareal Bank Group has improved its net profit in Q2, while expanding its new structured property financing business.

Adval refinancing Cascade Offices in Bucharest

ROMANIA Adval Asset Management has secured EUR 6 mln to refinance the Cascade Offices in Bucharest.

Investment & finance

Panattoni invests in Łódź

POLAND Panattoni Europe has acquired the B1 building and 3.5 ha of development land in Łódź Business Park from Aviva Investors.

Record investment volume in CEE

CEE REGION Investment into Central and Eastern Europe was up 59 pct in H1 2016.

Berlin Hyp happy with half-year results

GERMANY Berlin Hyp has reported an operating profit before tax of EUR 31.5 mln for H1 2016, compared with the EUR 39.9 mln recorded in the same period last year.

Sonae Sierra sees recovery in Europe

EUROPE Sonae Sierra posted a net profit of EUR 59 mln, improved its tenant sales in Europe in H1 2016.

Investment & finance

Aviva offloading warehouse building in Łódź

POLAND Aviva Investors has sold the B1 building and a 3.5 ha plot of land at the Łódź Business Park to Panattoni Europe, with Savills having brokered the transaction on behalf of the vendor. The value of the transaction has not been disclosed.