Investment &amp; finance

ROMANIA A fund advised by Morgan Stanley Real Estate Investing (MSREI), in a joint venture with David Hay, the former CEO of AFI Europe Romania, has acquired the America House office building close to Piața Victoriei Square in Bucharest.

Vastint sells four buildings to Cromwell

26 September 2019

POLAND Vastint Poland has completed the sale of four office buildings, which make up the first stage of Business Garden Poznań to Cromwell European REIT.

Data centre buys a piece of Włochy

Opr./edited by TSG

POLAND Mostostal Warszawa has sold a plot of land at ul. Krakowiaków 91/101 in Warsaw’s Włochy district.

Hines buys Segro park in Gdańsk

POLAND Hines Global Income Trust has acquired a 32,000 sqm logistics park in Pruszcz Gdański near Gdańsk from Segro European Logistics Partnership (SELP) for an undisclosed price. The property will be managed by Hines Polska.

Eastnine buys Old Town offices

Nathan North
managing editor (English section)

ESTONIA The Valdemara office building in Riga’s Old Town has been sold by Capital Mill to Swedish listed real estate investor Eastnine for app. EUR 25 mln.

Rising prices pushes construction turnover to new levels

The turnover generated by the Polish construction industry has reached an all-time high on the back of several years’ investment upturn and is expected to come close to PLN 250 bln (EUR 59 bln) in 2020. The growth in the market’s value, however, is being boosted mainly by the rising prices of building materials and higher labour costs.

Echo Investment takes on Tesco

Opr./edited by TSG

POLAND Echo Investment has confirmed market rumours that it has bought the Tesco shopping centre on ul. KEN in Warsaw’s Kabaty district.

Global investment slightly down

23 September 2019

WORLD Global full-year investment volumes are unlikely to reach last year record of USD 1.8 tln, but could be still in line with those reached in 2017 (USD 1.7 tln), says Savills.

Financing for Goleniów terminal

20 September 2019

POLAND Waimea Holding has been awarded PLN 18.9 mlln financing by BNP Paribas bank for the construction of Waimea Cargo Terminal Airport Szczecin-Goleniów.

Final O3 Business Campus building changes hands

18 September 2019

POLAND A joint venture between EPP and Henderson Park has purchased the third building of the O3 Business Campus office complex in Kraków from Echo Investment for EUR 47.2 mln. As a result, the two companies now own the entire complex.

EU construction stays stable

18 September 2019

EUROPE In July 2019, seasonally adjusted production in the EU construction sector decreased by 0.1 pct m-o-m, according to first estimates from Eurostat, the statistical office of the European Union.

Piotr and Paweł reaches agreement with banks

16 September 2019

Opr./edited by AZ

POLAND Bankrupt Polish delicatessen supermarket operator Piotr i Paweł group has concluded a series of debt restructuring agreements with its creditors in the banking sector. The move has been made with the involvement of the Spar Group, which this summer bought out the Piotr i Paweł chain.

EU supports UMK modernisation

13 September 2019

POLAND Collegium Medicum UMK is to receive EU funds for the renovation of its building on ul. Jagiellońska 13 in Bydgoszcz.

PHN debuts on Catalyst market

13 September 2019

POLAND Polski Holding Nieruchomości (PHN) has debuted on the Catalyst bond market of the Warsaw Stock Exchange.

Sportmaster to bid for Go Sport

POLAND Sportmaster Operations has applied to the Polish competition authorities [UOKiK] for permission to take over Go Sport Polska.

Kokoszki under Moderna wings

POLAND Gdynia-based developer Moderna Holding has signed an agreement for the purchase all the shares of Kokoszki.

Acciona takes larger stake in Mostostal

POLAND Acciona has acquired a total of 2,407,655 shares in a call for the shares of Mostostal Warszawa.

Hot end to the year

POLAND The investment volume on the Polish commercial real estate market is expected to reach EUR 4.3 bln in the second half of the year and this will drive the full figure for 2019 up to EUR 6.9 bln, according to Michał Ćwikliński the managing director of Avison Young Polska, who on September 10th gave a presentation at the 5th Invested Interest Investment Market Conference organised by Eurobuild CEE in the Westin Warsaw Hotel.

Nathan North
managing editor (English section)

Fifth Váci Greens building changes hands

09 September 2019

HUNGARY Atenor has announced that it has reached an agreement to sell the fifth building of the Váci Greens office complex to a Hungarian private fund set up by MEFG for an undisclosed sum.

PBB grants EUR 90 mln financing to Credit Suisse

09 September 2019