Investment &amp; finance

Ewa Andrzejewska

POLAND The West House 1B office building, which was developed by the Archicom group within the West Forum Business Centre complex in Wrocław, has changed its owner. The property was purchased by GNT Ventures Wrocław, a part of the Irish capital group GNT which owns such assets as the Madison shopping centre in Gdańsk and the BPH Office Park complex in Gdańsk.

Warsaw city hall sells more plots to Ceraco

POLAND Warsaw city hall has decided to bypass tender procedure and sell to Ceraco the perpetual usufruct of the plots the development company needed for the construction of an office building located in the city centre. The developer will acquire two small parcels with a combined area of 84 sqm located near ul. Waryńskiego and ul. Polna for PLN 84,000.

Auchan Polska given green light to sell Reals to Schiever

POLAND Auchan Polska has obtained the approval of the Polish Office of Competition and Consumer Protection to sell off eight Real hypermarkets to the French company Anciens Etablissmements Georges Schiever et Fils, which is the dominant entity in the Schiever group.

Immofinanz fires back at unsatisfactory CA Immo bid

EUROPE Immofinanz has made a voluntary partial public offer on the purchase of an up to 29 pct stake in CA Immo. The move comes just a few days after CA Immo and O1 jointly offered to acquire 13.5 pct of the total Immofinanz issued shares for EUR 2.80 per share in a voluntary tender offer, at least EUR 1.20 below Immofinanz’s expectations.

African investor buys Opole mall, plans extension

20 March 2015

POLAND/ MAURITIUS Gontar, a subsidiary of the Rockcastle Global Real Estate company which operates in South Africa and Mauritius, has concluded an agreement on the purchase of the Coucal-owned Solaris Centre shopping mall in Opole. The total purchase price for the transaction reached EUR 52 mln at an initial yield of 7.7 pct.

PKP wins financing for Gliwice station

20 March 2015

POLAND PKP has signed an app. PLN 81.5 mln contract with the Centre for EU Transport Projects on supplementary financing for the modernization of a railway station in Gliwice.

Union Investment buys Sarni Stok

19 March 2015

POLAND Union Investment has acquired the Sarni Stok shopping centre in Bielsko-Biała from CBRE Property Fund Central Europe, which is managed by CBRE Global Investors.

Tristan is starting new EUR 950 mln fund

17 March 2015

EUROPE London-based real estate investment fund manager Tristan Capital is launching a new EUR 950 mln pan-European value-add fund . So far Tristan raised one third of the targeted equity.

CBRE GI buys Campus Square from AIG/Lincoln

17 March 2015

CZECH REPUBLIC A fund managed by CBRE Global Investors has bought the Campus Square retail park in Brno’s Bohunice district from AIG/Lincoln.

MLP looking to double its scale of operations

17 March 2015

POLAND The value of MLP Group’s assets increased to PLN 557.9 mln at the end of 2014, almost 10 pct more than for the previous year.

CA Immo and O1 raise bid for Immofinanz

16 March 2015

EUROPE Vienna-based developer CA Immo and the Russian investment group O1 are willing to buy 13.5 pct of the total Immofinanz issued shares for EUR 2.80 per share in a voluntary tender offer.

C&W boasts record income

16 March 2015

WORLD Cushman & Wakefield has increased its gross revenue by 14 pct y-o-y to USD 2.85 bln and its net income by 33.3 pct to USD 61.6 mln, according to 2014 financial results.

Echo in Griffin’s hands?

13 March 2015

POLAND Michał Sołowow, the largest single shareholder of development company Echo Investment, has called an extraordinary general meeting of shareholders.

AXA starts new logistics developer

13 March 2015

EUROPE Real estate investment company AXA Real Estate has launched a new pan-European logistics and industrial development company, Baytree Logistics Properties, which has EUR 100 mln already earmarked for its project pipeline.

Nathan North
managing editor (English section)

CTP obtains EUR 162 mln from the banks

13 March 2015

CZECH REPUBLIC Czech warehousing developer and owner CTP has secured a EUR 132 mln loan from its new financial partner pbb Deutsche Pfandbriefbank to finance CTPark Bor in Bor u Tachova, close to the German border.

Atal to spend PLN 100 mln on land plots

POLAND Development company Atal is aiming to spend PLN 60-100 mln on land purchases this year.

Hines buys Capital Partners Moscow building

RUSSIA Hines has reportedly acquired a 32,000 sqm office building that makes part of the Capital Partners-developed Metropolis mixed-use complex located by the Leningradskoe highway in Moscow.

Lithuanian Post puts 60 assets up for sale

Anna Pakulniewicz

LITHUANIA Lithuanian postal operator Lietuvos paštas (LP) will auction off app. 60 domestic properties.

European investors eye demographic and social trends

EUROPE Berlin, Dublin, Madrid, Hamburg and Athens performed best among the European cities showing the strongest property investment prospects in 2015. Warsaw was ranked 14th, a three place drop compared to the 2014 ranking. Prague took the 18th position, a two place y-o-y fall, while Budapest was ranked 22nd, a five place jump compared to the last year, according to an annual investment prospects survey by PwC.