Deutsche Asset Management, on behalf of its German funds, has acquired three Fashion House shopping outlets in Poland from a fund managed by Peakside Capital. The outlets are located in Warsaw, Gdansk and Sosnowiec.
Built mostly in 2005, the portfolio comprises over 50,000 square meters of retail space, with over 210 different tenants including Nike, Adidas, Puma and 4F. the outlets feature unique themed architecture and substantial car parking facilities, and benefit from prominent positions within their cities, with excellent accessibility and visibility.
In addition, Deutsche AM has appointed PRÔM as the portfolio centre and asset manager. PRÔM is a joint venture of Peakside Capital and ROS Retail Outlet Shopping.
“This transaction allows Peakside to liquidate the 2007 vintage Polonia Property Fund II Ltd, generating attractive returns for our investors. The assets still possess significant value creation potential and we are delighted to remain involved through our joint venture, PRÔM, supporting business continuity,” says Stefan Aumann, Partner at Peakside Capital.
PRÔM will assume full responsibility for centre management from the end of June, following an interim period.
Deutsche Asset Management’s global real estate business currently holds €51.0 billion in assets under management as of 31 March, 2017. The acquisition of the Fashion House Portfolio brings total assets under management in Poland to €1.65 billion.
The Lux Med Group will join the ranks of the Fabryczna Office Park complex being developed by the Inter-Bud Group as part of the Fabryczna City project - an omni-functional investment being built on Aleja Pokoju in Krakow. The lease agreement between Lux Med Group and Inter-Bud Group was signed for over 1.7 thousand sqm.
The group of tenants of Dekada Nysa (southwestern Poland) is expanding. Family Pets & Zoo will occupy a 258 sqm showroom, where it will offer a wide selection of food, supplements for dogs and cats, cosmetics, toys and many other pet products.
Flexion Mobile Plc's Hungarian branch has chosen traditional long-term office leasing over previously used serviced office rental and is moving to the ZenGarden office building in Budapest.
Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.
Dominika Bombik has taken up the position of Marketing and Communications Director at BPI Real Estate Poland. She will be responsible for the creation and implementation of marketing activities for the residential property product portfolio and the developer's image on the Polish market.
Immofinanz Group recorded strong growth in both rental income and operating results in the first three quarters of 2023 due to acquisitions, the full consolidation of S Immo and successful asset management. Rental income rose by 79.4% year-on-year to €389.2 million; the results of asset management, at €323.7 million, were even 92.2% higher than in the previous year. The results of operations increased to €209.1 million and sustainable FFO 1 from the standing investment business more than doubled to €214.4 million.
CA Immo has reported a good operating performance for the first three quarters of 2023. The results show, among other things, a significant increase in rental income (+9%) and high income from the sale of non-strategic properties (sales result of €158 million, FFO II +88%), which led to an increase in the operating result (EBITDA) of 129% compared to the previous year´s figure. In total, CA Immo generated a consolidated net profit of €61.1 million, which was around 77% below the previous year's figure, primarily due to the non-cash-effective, market-related negative result from revaluation.
How to invest in challenging times? How to diversify one’s investment portfolio to minimize risk? What properties are investors allocating their capital in nowadays? Marcin Purgal, Senior Director, Investment and Paulina Brzeszkiewicz-Kuczyńska, Research and Data Manager at Avison Young Poland answered these questions and many others.
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