Investment &amp; finance

POLAND The Legnica-based developer Rank Progress has finalised the sales of Galeria Piła to Austrian property investor Immofinanz. The transaction was worth almost PLN 57.7 mln net.

Jaguar sales push up Marvipol profits

POLAND Automotive company and developer Marvipol generated a net profit of over PLN 29 mln in H1 – three times more than the figure for the same period in 2013 and the best semi-annual result in the group’s history.

Growth in profits for Erbud

POLAND Erbud group generated profits of PLN 8.3 mln in H1, a more than threefold growth on the same period last year.

Building permit for Galeria Północna in the autumn

CEE REGION Globe Trade Centre (GTC) expects to receive a building permit for its Galeria Północna shopping centre development in Warsaw’s Białołęka district this autumn.

Dom Development to invest another PLN 100 mln on land in H2

Agata Kłapeć

POLAND Dom Development is planning to buy plots up to a value of around PLN 100 mln in H2 2014, mostly in the Polish capital city.

Polnord selling ul. Pereca plot

POLAND Polnord is set to sell a 1,960 sqm plot on ul. Pereca in Warsaw.

LPP chain shows dynamic growth

POLAND In the first half of the year, Polish clothing group LPP opened 168 new stores bringing the total operated under its brands up to 1,488.

Asset growth for MLP Group

POLAND The built and leased warehouse area owned by MLP Group increased to 345,900 sqm over the first six months of this year. In this period the company an area of 44,200 sqm was added to its portfolio.

Złota 44 sold to BBI and Amstar for EUR 63 mln

POLAND Orco Property Group has sold the Złota 44 residential skyscraper project in central Warsaw to a joint venture between Polish developer BBI Development and Denver-based investment manager Amstar for EUR 63 mln.

ING and Nordea provide EUR 174 mln for Blackstone

POLAND/CZECH REPUBLIC ING Bank Śląski has acted as the lead arranger for a EUR 174 mln term loan for LogiCor, Blackstone’s European logistics platform, to finance its recent acquisition of a logistics portfolio from Pramerica Real Estate Investors.

Redan increases turnover but suffers losses

POLAND The turnover of retail group Redan, the owner of the Top Secret, Troll and Drywash brands as well as the TextilMarket discount chain, amounted to PLN 226.2 mln in the first six months of the year, a 7.3 pct y-o-y increase.

Papag wins Praktiker acquisition approval

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

Agata Kłapeć

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

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

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