Investment &amp; finance

RUSSIA Hines CalPERS Russia Long Term Hold Fund (HCRLTH) has revealed that the stake it recently bought in the Metropolis shopping centre in Moscow from the Morgan Stanley Real Estate Investing (MSREI) fund amounted to 50 pct.

Investment market up by 60 pct

18 July 2013

CEE REGION The overall CEE investment volume in the first half of the year amounted to EUR 4.5 bln, 60 pct higher than in H1 2012 – according to the latest CEE Property Investment Market View report by CBRE.

Rank Progress pulls out of Galeria Chełmska talks

18 July 2013

Nathan North
managing editor (English section)

POLAND Legnica-based developer Rank Progress has pulled out of negotiations to buy into the Galeria Chełmska shopping centre project in Chełm.

Plaza Centers sells Prague 3 project

18 July 2013

CZECH REPUBLIC Plaza Centers has completed the sale its 100 pct stake in the vehicle that owns its Prague 3 project in the city’s third district to an unnamed investor.

PKP selling, modernising and seeking investors

POLAND Polish State Railways (PKP) is soon to invite investors to negotiate further development projects at railway stations, Jarosław Bator, the managing director of the property division of PKP, has revealed.

PBO Anioła buys Wrocław land

POLAND PBO Anioła subsidiary Protea Development has signed a preliminary agreement to purchase the perpetual usufruct rights for three plots in Wrocław.

Prosta Tower to be leased in late summer

POLAND The final decision concerning the future lease of the Prosta Tower office building in Warsaw is to be taken by the owner of the property, Marvipol, by early September.

W.P. Carey buys H&M distribution centre

POLAND W.P. Carey has acquired a logistics centre of over 83,000 sqm in Poznań for its REIT affiliate CPA®:17 – Global from a fund managed by Invesco Real Estate.

Sberbank to finance G8

16 July 2013

RUSSIA Sberbank of Russia is to provide a seven-year loan of RUB 1.25 bln (EUR 29,3 mln) to Promyshlennye Tehnologii [Промышленные технологии], a subsidiary of ComStrin Group [КомCтрин], for the construction of the first phase of the G8 Business Park in Moscow.

Government spends PLN 26 mln at the races

15 July 2013

POLAND The Polish government has agreed to invest PLN 26 mln in renovating the grounds of Warsaw’s Służewiec racecourse.

Inter IKEA poised to buy Wola Park

15 July 2013

POLAND Swedish developer Inter IKEA Centre Group Poland has signed a preliminary agreement to buy the Wola Park shopping centre in Warsaw.

IVG in need of cash infusion

15 July 2013

EUROPE IVG Immobilien has announced that it is currently negotiating a EUR 120 mln bridging loan, which if not secured could lead to a situation that “could eventually jeopardise the existence of the company”, according to statement from the company.

Polonus up for grabs again

12 July 2013

POLAND Investors have been invited to a state auction for the purchase of an 85 pct stake (765,000 shares) in Warsaw-based company Przedsiębiorstwo Komunikacji Samochodowej Polonus.

LC Corp gives seven loans to subsidiary

12 July 2013

POLAND LC Corp has granted seven loans to its daughter company LC Corp Invest I worth a total of PLN 106 mln.

NEPI denies wrongdoing

ROMANIA New Europe Property Investments has responded to the announcement that the Argo Real Estate Opportunity Fund has begun legal proceedings against it.

C&W gives way to Activ

ROMANIA Cushman & Wakefield has pulled out of Romania.

ING spins off and sells Galerie Butovice offices

Nathan North
managing editor (English section)

CZECH REPUBLIC ING Real Estate Finance (ING REF), the owner of the Galerie Butovice office and retail centre in Prague 13, has completed the sale of the Butovice Office Building to a Czech closed-end investment fund.

Morgan Stanley and Hines partner up in Moscow

RUSSIA The Morgan Stanley Real Estate Investing (MSREI) fund has sold a stake in the 205,000 sqm Metropolis shopping centre in Moscow to Hines CalPERS Russia Long Term Hold Fund (HCRLTH).

Pbb provides loan for Charter Hall acquisition