Investment &amp; finance

Nathan North
managing editor (English section)

HUNGARY QPR Investimentos, the Portuguese owner of the Dreschler Palace on Andrássy út in Budapest, has signed a letter of intent to sell the building, according to local media reports.

NEPI share issue oversubscribed

ROMANIA A total of 8,498,571 new shares are expected to be issued by New Europe Property Investments (NEPI) and list on the Johannesburg Stock Exchange on September 13th 2013.

Raven to buy up own shares

RUSSIA Raven Russia plans to purchase up to 15,462,121 ordinary shares from its shareholders.

Palmer Capital sells two office buildings in Ostrava

Nathan North
managing editor (English section)

CZECH REPUBLIC Palmer Capital has sold two office properties in Ostrava from its Palmer Capital Central European Properties portfolio.

Investor sought for Rank Progress stake

06 September 2013

POLAND Andrzej Bartnicki, the co-founder of Rank Progress, has decided to sell his shares in the developer.

Due diligence for Polonus

05 September 2013

POLAND Four companies that have applied to buy shares in Przedsiębiorstwo Komunikacji Samochodowej Polonus in Warsaw can now start due diligence procedures.

PBO Anioła amends contract

05 September 2013

PBO Anioła amends contract POLAND Protea Development, a subsidiary of PBO Anioła, has informed ‘Eurobuild CEE’ about amendments made to the preliminary contract to purchase a site in Łódź.

CBRE contracted by V Holding

05 September 2013

RUSSIA CBRE has been appointed to deliver facility management services across V Holding’s Russian real estate portfolio of five office and administrative properties.

Marvipol happy with results

POLAND The Marvipol group enjoyed improved financial results for the first half, mainly due to the automotive arm of the firm.

BPH TFI buys Ideal Idea III

POLAND Ideal Idea is to sell the Ideal Idea III warehouse complex on ul. Działkowa in Warsaw’s Włochy district to the BPH TFI fund.

Shrinking losses for Wikana

POLAND Lublin-based development company Wikana generated net sales revenue of PLN 4 mln in H1 2013.

Regions obtains USD 500 mln in financing

RUSSIA Regions Group of Companies has obtained a USD 500 mln credit line for a period of ten years.

USD 15 mln loan for Arricano

UKRAINE Arricano group, through its subsidiary Prizma Alpha, has been granted a seven-year USD 15 mln loan facility for refinancing current debt obligations as well as for the development of investment properties.

Małpka in Torebka’s hands

POLAND Czerwona Torebka has finalised the acquisition of Małpka, the operator of the Małpka Express convenience store network.

EM&F limits development expenditure

POLAND In the first six months of 2013 the Empik Media & Fashion group generated a 4 pct y-o-y increase in revenue to PLN 1.5 bln.

Wojas sees revenue growth

POLAND The Wojas group, which operates the Wojas chain of footwear shops, generated net revenue of PLN 80.9 mln in the first half of the year.

Scottish Duke sells Moscow building

RUSSIA Buccleuch Group, which is owned by the Duke of Buccleuch, together with its French and Spanish joint-venture partner Groupe Hoche Espais, has sold the Pietro House office centre in Moscow, according to ‘Vedomosti’.

Sponda to pull out of Russia

Nathan North
managing editor (English section)

RUSSIA Finnish real estate investor Sponda is planning to exit both the Russian market and the real estate funds business in the next three to five years.

Inpro enjoys revenue growth over 70 pct

02 September 2013

POLAND Inpro increased its sales revenue by 73 pct y-o-y in H1 to PLN 82.5 mln.

TK Development sells shares

02 September 2013