Investment &amp; finance

POLAND Swiss investor Papag has obtained the approval of the Office of Competition and Consumer Protection (UOKIK) for its acquisition of Praktiker Polska and Praktiker Real Estate Polska (originally reported in this publication in March).

Eleven new Monnari outlets by the year-end

POLAND Clothing retailer Monnari Trade, the owner of the Monnari brand, is planning to open eleven stores in shopping centres in some of the largest cities in Poland in H2 2014.

Green light to buy Matras

POLAND Nowe Powierzchnie has been given permission from the Office of Competition and Consumer Protection (UOKiK) to acquire the Matras bookstore chain from the SEAF group.

Marvipol to buy Warsaw plots

POLAND Marvipol has issued 20,650 ordinary unsecured bonds with a value of PLN 20.65 mln. The money will be used to purchase land for residential development in Warsaw.

EBRD grants EUR 30 mln loan to redevelop Croatian marinas

CROATIA The European Bank of Reconstruction and Development (EBRD) has arranged a EUR 30 mln loan for a Turkish developer to renovate two Croatian marinas and help increase nautical tourism in the country.

Warsaw is getting "investment intense"

POLAND Warsaw has been ranked sixth in JLL’s global Investment Intensity Index as it outperformed such cities as Paris, New York and Tokyo, the company informed. The top five positions were taken by London, Oslo, Munich, Stockholm and Copenhagen.

PointPark Properties buys eleven logistics parks

Nathan North
managing editor

CZECH REPUBLIC PointPark Properties has agreed to buy eleven Czech logistics parks from Tristan Capital Partners and VGP for EUR 523 mln.

HB Reavis sells River Garden Office I

Nathan North
managing editor

CZECH REPUBLIC HB Reavis Group has sold its River Garden Office I building in Prague’s Karlín business district to Prvý realitný fond (PRF) managed by Slovakian company IAD Investments.

TechnoPark Pardubice goes under the hammer

Nathan North
managing editor

CZECH REPUBLIC The Naxos auction house is selling Technopark Pardubice, with the lowest bid having been set at CZK 160 mln (app. EUR 5.7 mln).

Industrial investment in Europe hits seven-year high

25 August 2014

Rafał Ostrowski
journalist

EUROPE In H1 2014, investors have spent a total of EUR 8.7 bln on industrial properties across Europe, the best first half performance since 2007, a study by CBRE reveals. The figure represents a 25 pct increase versus H1 2013.

Portland Trust buys plot to build more offices in Bucharest

22 August 2014

ROMANIA Prague-based commercial developer Portland Trust has bought a 4 ha land plot in Bucharest from Nusco Group. Located in North Central part of the city, the plot will accommodate a "large office project."

Szczecin tenement house offered for sale

21 August 2014

POLAND Litwiniuk Property facilitated the sale of a 240 sqm retail unit in a Szczecin tenement house. Located on ul. Bogusława X and owned by an undisclosed company that also holds the rest of the building, the space was acquired by an anonymous private investor for PLN 2.6 mln, the company informed.

Strabag acquires EUR 95 mln stake in JW Marriott hotel

21 August 2014

ROMANIA Bank of Cyprus has disposed of its 35.2 pct share in JW Marriott-branded Bucharest Grand Hotel, initially valued at EUR 95 mln, by selling it to the Austrian construction and development conglomerate Strabag.

Rafał Ostrowski
journalist

Ghelamco sells three Polish properties to Starwood

21 August 2014

POLAND Belgian-originated developer Ghelamco has finalized the sale of its T-Mobile Office Park, Łopuszańska Business Park and Katowice Business Point to an American private investment firm Starwood Capital Group. The three office properties comprise 78,000 sqm of space in total.

Interferie reduces net loss

20 August 2014

POLAND In H1 2014, Interferie (Interferie jointly with an affiliated company, Interferie Medical SPA) continued to perform stable growth. At the end of June 2014, the group’s revenues amounted to over PLN 17.9 mln, as compared to PLN 17.9 last year. Its net loss in H1 2014 decreased to PLN 356,000, from PLN 1.23 mln in H1 2013.

Atrium redevelops Warsaw mall

20 August 2014

POLAND Management board of Atrium European Real Estate (AERE) has approved the first stage of the extension and modernization plan for the Atrium Promenada shopping centre in Warsaw. According to the company, the shopping centre will get enlarged by as much as 44,000 sqm.

Amrest satisfied with Poland, Hungary and Russia in H1

19 August 2014

EUROPE In H1 2014, a Poland-based restaurant operator Amrest, which runs app. 760 bars under KFC, Burger King, Pizza Hut and Starbucks brands, has seen a 8.9 y-o-y increase in its revenue, to PLN 1.4 bln. However, the company also posted a significant drop in net operating profit, which hit PLN 12 mln, as compared to PLN 41.8 mln in H1 2013.

AFI ends H1 with EUR 27.5 mln profit

20 August 2014

CEE REGION In H1 2014, AFI Properties, which is the parent company of the CEE developer AFI Europe, has seen an over six-fold y-o-y increase in profit, from EUR 4.3 mln to EUR 27.5 mln. The global real estate investment company’s net operating income hit EUR 39.4 mln, up 10 pct y-o-y.

Inpro borrows PLN 25 mln to build Chmielna Park

18 August 2014