Investment &amp; finance

POLAND/EUROPE Vienna-based development company UBM is putting up for sale a portfolio of 17 non-core European properties, which include Warsaw’s Poleczki Business Park office complex.

European Commission OKs Echo Investment acquisition

25 May 2015

EUROPE European Commission has approved Griffin Topco III’s and LVS II Lux XX’s joint acquisition of 41.55 pct of the Echo Investment shares that currently belong to the development company’s founder, Michał Sołowow.

Tristan seeks buyers for GBP 1.5 bln retail portfolio

22 May 2015

EUROPE London-based real estate investment fund manager Tristan Capital is exploring the option of selling a GBP 1.5 bln European retail portfolio comprised of 35 properties, a fifth of which is located in Poland, on an off-market basis, informs ‘Property Week’.

Hard working Q1 for Capital Park

22 May 2015

POLAND The Capital Park group launched a number of new projects in Q1.

Rafał Ostrowski
journalist

German co-op banks to take over Riviera

21 May 2015

POLAND Union Investment Real Estate is about to acquire the Riviera shopping centre on ul. Kazimierza Gróskiego 2 in Gdynia.

Secure Property buys Romanian and Bulgarian portfolio

21 May 2015

ROMANIA/ BULGARIA Secure Property Development & Investment, a Cyprus-based SEE-focused real estate investment company is acquiring a series of retail, residential and office assets across Romania and Bulgaria.

Robyg redeems bonds

21 May 2015

POLAND The Robyg group is to prematurely redeem some of J-series bonds secured by the mortgage on a property owned by Robyg Mokotów Investment (a company set up to carry out a residential project on a plot between ul. Puławska and al. Wilanowska).

Rafał Ostrowski
journalist

Enterprise Park sold to Tristan fund

19 May 2015

POLAND The European Property Investors Special Opportunities 3 LP (EPISO 3) fund, advised by Tristan Capital Partners, in a joint venture with Avestus Real Estate Avestus, has acquired the Enterprise Park office building in Kraków.

AXA starts flexible equity and debt property fund

19 May 2015

WORLD Asset management company AXA Investment Managers has launched the AXA WF Global Flexible Property fund that aims to mimic the liability side of a real estate company's balance sheet and enable fund managers to seek a return profile similar to that of a direct real estate investment.

Murapol shops for plots in Łódź

18 May 2015

POLAND Bielsko-Biała based developer Murapol has finalised a preliminary purchase agreement for a plot on al. Marszałka Józefa Piłsudskiego and ul. Sobolowa in Łódź.

GTC sees healthy Q1 growth

18 May 2015

CEE REGION In the first quarter 2015, GTC’s net profit increased to EUR 8 mln, from a net loss of EUR 2 mln registered in Q1 2014, as the company disposed of three Polish and Romanian assets.

LPP suffers losses on currencies, renegotiates rentals

15 May 2015

Eurobuild CEE

POLAND In Q1 2015, the LPP fashion retail group has seen its total sales increasing by 6 pct y-o-y, to PLN 1 bln. At the same time LPP generated a PLN 23.7-mln operational profit, a significant drop from PLN 48.4 mln last year, while the group’s revenues from comparable stores fell by 0.7 pct, excluding changes in local currency rates.

Małpka lands in Forteam portfolio

15 May 2015

POLAND The sales of Małpka, the operator of the Małpka Express food store chain, has now been completed. Its new owner is Forteam Investments.

EUR 2.9 bln Romanian fund debuts on LSE

14 May 2015

ROMANIA/ UNITED KINGDOM Fondul Proprietatea, a EUR 2.9 bln Romanian closed-end fund managed and co-owned by Franklin Templeton Investments, has floated on the London Stock Exchange.

Wrocław granary to house apartments and offices

13 May 2015

POLAND Wrocław-based developer i2 Development has purchased a plot with a historical granary at ul. Księcia Witolda 46 in Wrocław. The company now plans on modernizing the building which previously belonged to the city of Wrocław and developing a residential and office complex on the 0.5-ha plot.

Nathan North
managing editor (English section)

Investor found for first part of Gdynia Waterfront

13 May 2015

POLAND Around 2 ha of the former Nauta ship repair yard in Gdynia, which is to be revitalised as the Gdynia Waterfront project, has been sold and the sale of the remaining area of Stocznia Remontowej Nauta is currently being negotiated.

Marvipol buys Białołęka plots

13 May 2015

POLAND Marvipol has signed a PLN 25 mln preliminary purchase agreement on app. 5.3-ha parcels located in Warsaw’s Białołęka district.

Warsaw Europlex changes hands

12 May 2015

POLAND The AICEE II fund, which is managed by Akron Group, has sold the Europlex office and retail complex on ul. Puławska to Lone Star.

Nathan North
managing editor (English section)

Deal struck to merge DTZ with C&W after Agnellis sell out

11 May 2015

WORLD Cushman & Wakefield has been sold by Italian investment group Exor to the consortium that owns DTZ in a deal worth USD 2.042 bln. The real estate services company is now to be merged with DTZ under the Cushman & Wakefield brand, forming a company that will have revenues of over USD 5.5 bln, more than 43,000 employees and will manage more than 370 mln sqm globally on behalf of institutional, corporate and private clients.

Tristan closer to closing latest fund

09 May 2015