Investment &amp; finance

LATVIA Riga city council is auctioning 22 plots with a combined area of just over 40 ha next to Riga International Airport.

Bank pays Polnord for claims against Warsaw

POLAND Polnord has received PLN 10 mln from Polski Bank Przedsiębiorczości. It is the second tranche of a payment totalling PLN 25 mln for its claims against the city of Warsaw that it sold to the bank.

Technological parks in Kraków in Katowice to expand

POLAND The government has decided to extend Kraków Technology Park by more than 70 ha, which will increase its size up to 628 ha.

More details of PHN flotation

POLAND The government has announced that a 25 pct stake in Polski Holding Nieruchomości is to be floated on the Warsaw Stock Exchange in Q1 2013.

First Retail International prepares invest in Europe

EUROPE Mitiska Ventures has announced that it has raised EUR 41 mln for its First Retail International (FRI) fund.

Sobet declares bankruptcy

11 January 2013

POLAND The NewConnect listed company Sobet, has filed for bankruptcy open to arrangements.

Ringwood takeover of PHN approved

11 January 2013

POLAND The Office of Competition and Consumer Protection (UOKiK) has approved Ringwood Financial’s (a subsidiary of Grupa Radius) proposed takeover of Polski Holding Nieruchomości (PHN) ruling that the deal would not limit competition.

CEIF granted extension on EUR 169 mln loan

11 January 2013

CEE REGION PBB Deutsche Pfandbriefbank has agreed a three-year extension to its EUR 169 mln senior facility to the Central European Industrial Fund (CEIF), which is jointly managed by Valad Europe and Aviva Investors.

ABM Solid in liquidation again

10 January 2013

POLAND Construction company ABM Solid, which is listed on the Warsaw Stock Exchange, has filed a petition to change its bankruptcy proceedings from liquidation to a bankruptcy open to arrangements.

Global investment picking up

10 January 2013

WORLD Global commercial real estate investment volumes reached USD 436 bln in 2012, according to figures from Jones Lang LaSalle

Konstanty Strus has hotel plot and new tenants

POLAND Przedsiębiorstwo Budowlane Konstanty Strus has purchased a 0.46 ha plot on ul. Jana Pawła II in Siedlce for more than PLN 1 mln. A 150 bed hotel is to be developed on the site.

JESSICA finances Sopot Complex with PLN 42 mln

POLAND Bank Gospodarstwa Krajowego has granted a low-interest loan of PLN 42 mln to Bałtycka Grupa Inwestycyjna (BGI) as part of the JESSICA initiative.

Bomi wishes to renegotiate debt repayments

POLAND Bomi, which has been declared bankrupt open to arrangements, has suggested modifying the repayment provisions with the banks which are its main creditors.

Supply outstripping demand

BULGARIA No major changes are predicted on the Bulgarian real estate market for 2013, according to Colliers International.

Profits up for Savills

WORLD Real estate consultancy Savills saw revenues rise by 12 pct over 2012.

Global investment up

WORLD In 2012 the value of global property investments increased by 6 pct to USD 929 bln (EUR 714 bln), according to the ‘International Investment Atlas’ by Cushman & Wakefield.

UOKiK scrutinises Real and Auchan deal

POLAND The European Commission has handed over the responsibility for approving the takeover of Real by Auchan to the Office of Competition and Consumer Protection (UOKiK).

Poland leads in investment

CEE REGION Investment activity in Poland, the Czech Republic, Slovakia, Hungary and Romania increased significantly in Q4 2012 to EUR1,826 mln, almost matching 2007 levels, and ahead of the EUR 536 mln invested in Q3 2012, according to figures from Cushman and Wakefield.

Best European property returns in Poland

WORLD Globally, total returns on property shares and other assets came to 29.8 pct in local currencies and 26.6 pct when measured in euros, according to figures from the Global Property Research In Europe the same figure came to 29.5 pct measured in euros.

ECM assets sold