Investment &amp; finance

CZECH REPUBLIC Tristan Capital Partners has bought the Praha City Center building in Prague for its CCP III fund.

Ergo Arena in Sopot to be renovated

POLAND Hala Gdańsk-Sopot has signed a preferential loan to finance 75 pct of the redevelopment costs of the Ergo Arena in Sopot in an investment estimated at around PLN 5 mln.

Ghelamco raises funding for new projects

POLAND Ghelamco Invest, part of the Ghelamco group, is preparing a public bond issue worth around PLN 135 mln.

Qubix 4 Praha sold

CZECH REPUBLIC The ČS nemovitostní fund has bought the Qubix 4 Praha office building in Vyšehrad (Prague 4) for around CZK 950 mln (app. EUR 34.6 mln).

Polimex-Mostostal closes sale of head office

POLAND Polimex-Mostostal has finalised a deal with Molina, a fund of PKO BP TFI, to sell its head office building in central Warsaw.

Blackstone closes largest ever European Real Estate fund

EUROPE Blackstone has closed its fourth European Real Estate Fund at its EUR 5.1 bln cap, the largest ever dedicated European Real Estate fund managed by the company.

Porr triples its dividends

EUROPE Porr increased its production output by 19 pct, to over EUR 3.43 mln in 2013 while the value of its order portfolio increased by 36 pct to over EUR 4.59 mln.

Murapol to build in Kraków

POLAND Murapol is to purchase the right of perpetual usufruct to a 8,120 sqm plot on ul. Poznańska in Kraków for PLN 15.67 mln.

Capital Park whets its appetite for some shopping

POLAND Capital Park group has recorded a 6 pct y-o-y decrease in revenue to PLN 38.8 mln for 2013.

Futureal Group buys all of Nova Park

POLAND Futureal Group has signed a definitive agreement to acquire the 50 pct stake it does not own in the Nova Park shopping centre in Gorzów Wielkopolski from Caelum Development, thus increasing its own stake to 100 pct.

Złota 44 “major financial failure” – Orco

27 March 2014

CEE REGION Orco Property Group has officially announced that late last year it suspended completion work on the Złota 44 residential tower in Warsaw with the intention of selling it in its current state.

Echo malls worth more

POLAND Kielce-based developer Echo Investment’s portfolio of shopping centres has been valued by Knight Frank as being worth more than PLN 3.4 bln.

Marvipol sees profits rise

POLAND In 2013 Marvipol sold 545 apartments and retail/service units, representing an increase of 80 pct on the figures for 2012.

Vantage looks to expand beyond Wrocław

POLAND “Vantage Development is actively looking for possibilities to develop projects outside Wrocław, which has been the core market for the company up until now,” Edward Laufer, the president of the company’s management board, has announced in a letter addressed to shareholders.

JLL to advise Scania

WORLD Swedish automotive manufacturer Scania has appointed JLL as its preferred provider for commercial real estate consultancy and advisory services.

Higher net profit with declining revenue for Immofinanz

25 March 2014

CEE REGION Immofinanz has recorded a net profit of EUR 225.8 mln for the first three quarters of the 2013/14 financial year, an increase of 7.1 pct y-o-y.

GTC to sell and buy

25 March 2014

CEE REGION Globe Trade Centre is planning to reorganise its real estate portfolio.

Sales rise for Inpro

24 March 2014

POLAND The Inpro group has recorded a consolidated sales revenue of PLN 178.3 mln for 2013, representing a 10.8 pct rise on 2012 (PLN 160.9 mln).

Silesia sale among five largest European deals

24 March 2014