Investment & finance

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Yit sells part of Pushkin plot

schedule 23 August 2018
Anna Pakulniewicz

RUSSIA Finnish residential developer and constructor Yit has sold part of a site it owns in Pushkin, south of St Petersburg, to Russian developer FSK Lider for app. EUR 15 mln.

Investment & finance

Balmain now sole owner of BSC group

schedule 21 August 2018
Opr./edited by AC

CEE REGION Balmain Asset Management has purchased minority stakes in BSC Real Estate Advisors and BSC Property Management to become the sole owner of both companies.

Investment & finance

How to prepare for the minimum tax

schedule 21 August 2018
Anna Pakulniewicz

POLAND The minimum tax is now calculated based on the initial value of a property minus PLN 10 mln for each building. The law that is to come into force is to change how this is calculated. PLN 10 mln is to be subtracted from a company's income. How to prepare for the law amendment says Justyna Bauta-Szostak, a tax adviser and partner at MDDP.

Investment & finance

EUR 100 mln for Kaufland refit

schedule 20 August 2018
Eurobuild CEE

POLAND Kaufland Polska has taken out a EUR 100 mln loan from the European Investment Bank for its previously announced plans to renovate around 50 stores in Poland.

PKO BP sets out its terms

schedule 30 July 2018
Eurobuild CEE

POLAND Inpro is renegotiating the terms of a construction loan for Hotel Mikołajki in Mikołajki with PKO BP.

Investment & finance

OTP snaps up MOM

schedule 16 August 2018
Alex Hayes
journalist

HUNGARY OTP Real Estate Investment Fund has purchased the 47,500 sqm mixed-use MOM Park complex in Budapest from a consortium of Wing, Morgan Stanley and CC Real.

Investment & finance

Mint sells Polygon

schedule 16 August 2018
Alex Hayes
journalist

CZECH REPUBLIC Amundi has purchased the Polygon office building in Prague’s Pankrác district for its KB realitní fond 2 fund.

Atal prepares for German entry

schedule 16 August 2018
Rafał Ostrowski
journalist

EUROPE Polish residential developer Atal has registered a company in Germany in preparation for the possible launch of a property development business.

LPP shares transferred to family foundations

schedule 16 August 2018
Eurobuild CEE

POLAND Marek Piechocki and Jerzy Lubianiec have transferred their shares in LPP to two foundations established to maintain the company as a family business: the Semper Simul Foundation and Sky Foundation.

Name change for Apleona

schedule 14 August 2018
Eurobuild CEE

POLAND Since July 5th Apleona GVA has been operating under the abbreviated name – GVA.

Cinema3D sells up in Poland

schedule 14 August 2018
Anna Pakulniewicz

POLAND Cinema3D is selling its portfolio of multiplexes in Poland to Vue International.

Investment in CEE still on the rise

schedule 14 August 2018
Eurobuild CEE

CEE REGION Investment in the CEE-6 region, which comprises Poland, Czech Republic, Slovakia, Bulgaria, Romania and Hungary, rose in the first half of the year by 4 pct y-o-y, Colliers International reports.

Investment & finance

HB Reavis buys fifth London project

schedule 13 August 2018
Nathan North
managing editor (English section)

EUROPE Slovakian developer HB Reavis has acquired the 12,800 sqm Crossrail Over-Site Development (OSD) office development in the Farringdon West integrated train station development, in Clerkenwell in Central London.

Nowy Styl expands to Dubai

schedule 10 August 2018
Anna Pakulniewicz

POLAND/UNITED ARAB EMIRATES Office furniture suppliers and interior designers Nowy Styl has taken a 60 pct stake in Stylis Dubai in a joint venture with Saudi Arabian partner Stylis which holds a 40 pct stake.

Poland not quite so transparent

schedule 10 August 2018
Rafał Ostrowski
journalist

POLAND Poland is a less transparent real estate market than it was two years ago.

Investment & finance

Pałac Jabłonowskich sold to S+B Gruppe

schedule 09 August 2018
Rafał Ostrowski
journalist

POLAND Closed end fund CFB-Fonds 148, which is managed by Commerz Real, has sold the Pałac Jabłonowskich office building at ul. Senatorska 18 and 18A – directly opposite the National Theatre. The property has been bought by S+B Gruppe.

Investment & finance

Two Gdański Business Center buildings sold

schedule 09 August 2018
Alex Hayes
journalist

POLAND HB Reavis has sold buildings B and C of the Gdański Business Center in Warsaw for over EUR 200 mln to Savills Investment Management, acting on behalf of a global pension fund client.

Investors glum in Western Europe

schedule 08 August 2018
Eurobuild CEE

EUROPE Property investors believe the cyclical turning point will soon be reached in European real estate markets and professional investors are increasingly worried about misallocating capital, claims Union Investment in its latest report.

Business still good in Romania

schedule 08 August 2018
Alex Hayes
journalist

ROMANIA Over the first half of 2018, a total of 33,000 sqm was delivered to the Bucharest office market with over 150,000 sqm to be delivered over the rest of the year, according to figures from Colliers International.

Zalando publishes results

schedule 08 August 2018
Alex Hayes
journalist

EUROPE Zalando has reported increased revenues in Q2 of 20.9 pct to EUR 1,330.0 mln, a rise which is in line with its 20-25 pct growth target. The company’s adjusted EBIT came in at EUR 94 mln representing a margin of 7.1 pct.

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