Investment &amp; finance

POLAND Stock exchange-listed company Mirbud finished the first quarter with positive figures in all segments of its operations as well as a y-o-y improvement of over 2.23 pct in terms of sales profitability.

WAT secures loan for laboratories

07 May 2014

POLAND The Military University of Technology in Warsaw (WAT) has obtained a preferential loan of PLN 22.5 mln for the development of a number of modern research facilities.

CEE investment volumes keep rising

07 May 2014

CEE REGION Around EUR 1.37 bln of investment transactions were concluded on the CEE market in Q1, according to JLL.

Budimex improves profitability

POLAND The successful limiting of the downward trend in terms of sales, improvements in the profitability of each level of operations, maintaining a high level of cash, as well as building the order portfolio for the next few years – this is how Q1 2014 for the Budimex group was summed up by the president of the board, Dariusz Blocher.

Billions lying in the grass

POLAND A politician who put up for sale a city park such as Pole Mokotowskie in Warsaw, Błonie in Kraków or the Ronald Reagan park in Gdańsk would be unlikely to be a popular choice for re-election.

Orco switches to selling Orco Germany shares to pay Złota debt

POLAND Orco Property Group (OPG) has given up on its recently announced plans to obtain a bridge loan to help it to pay back PLN 250 mln worth of liabilities to Pekao bank related to the development of the Złota 44 building in Warsaw.

Goldman Sachs invests in 01 Properties

RUSSIA Goldman Sachs International has bought a 6 pct stake (5.1 mln class ‘B’ ordinary shares) in Russian investment and development company O1 Properties for USD 100 mln.

Pbb provides loan to seal acquisition of Prague Fashion Arena

05 May 2014

CZECH REPUBLIC Pbb Deutsche Pfandbriefbank is to provide a EUR 39 mln loan to UK investor Meyer Bergman for the acquisition of the Prague Fashion Arena outlet centre.

EPI Baltic I sells Tallinn mall

05 May 2014

ESTONIA The EPI Baltic I fund, managed by Northern Horizon Capital (NHI), has completed the sale of the De la Gardie shopping centre to Estonian investment company Lepidus Invest.

Owner of Avans chain files for bankruptcy

05 May 2014

POLAND Domex group, which is owned by brothers Arkadiusz and Sławomir Tomala, has filed for bankruptcy open to arrangement at the district court in Tarnobrzeg.

Revenue up for Echo

30 April 2014

POLAND Echo Investment closed 2013 with a net profit of PLN 331.1 mln, compared to PLN 374.1 mln a year earlier.

Warimpex enjoys growth in activity

30 April 2014

POLAND “On the basis of our solid financial results and further sales transactions for successful projects, we can see a lot of potential in new development activities,” Franz Jurkowitsch, the president of the board of Warimpex has declared at the launch of an office project next to the Chopin hotel in Kraków.

Mirbud wants to buy Arena Ostróda

24 April 2014

POLAND Construction company Mirbud is planning to take over Demuth Alfa, the owner of the Arena Ostróda exhibition centre.

CTP buys another Prague park

22 April 2014

CZECH REPUBLIC CTP has bought the D1 Zone – Nupaky Logistics Park on the south eastern outskirts of Prague from UK investor Mosaic Property and Czech-Irish investment group Kilcullen Kapital Partners for an undisclosed sum.

ICT finalises purchase of O1 Properties stake

22 April 2014

RUSSIA ICT Group has finalised the purchase of a 26 pct stake in O1 Properties

Orco given Złota 44 reprieve by Pekao

22 April 2014

POLAND Orco Property Group has announced that on April 17th it concluded that an agreement with Pekao bank for the acquisition of loan receivables and collateral related to the Zlota 44 residential tower project in Warsaw.

PPF to buy City Tower?

CZECH REPUBLIC PPF Group, owned by Czech businessman Petr Kellner, is poised to buy the City Tower office building in Pankrác (Prague 4), according to local media.

Investment levels to be lowest since crunch

RUSSIA Investment levels could be the lowest in the post-crisis period and comparable to total investment volumes in 2009, when the volume reached USD 3.2bn, according to JLL.

Griffin buys in Kraków

POLAND Griffin Group has acquired two of the office buildings forming part of the Centrum Biurowe Lubicz complex in Kraków from Polonia Property Fund I.

Polish property luring Eastern capital