ARTICLES IN Investment TOPIC

19
Dec
2016

Immofinanz sells non-core retail portfolio in Austria

by Ákos Budai
Immofinanz has announced the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business. The portfolio covers 88 properties with approx. 108,000 sqm of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017. 
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16
Dec
2016

FLE acquires its first CEE property in Budapest

by Ákos Budai
FLE GmbH, a company of the LFPI group, has acquired its first property in CEE from an international institutional seller. The acquisition relates to the office building Office Garden I in the Southern Buda area of Budapest, that is 93 percent leased and offers 16,000 square meters of leasable space. The seller was represented by JLL.
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14
Dec
2016

Echo Polska acquires Krakow mall for €54 million

by Ákos Budai
An opportunity fund advised by Tristan Capital Partners, a pan-European real estate investment manager, has agreed to sell the Zakopianka Shopping Centre in Krakow, Poland, to Johannesburg-listed Echo Polska Properties for approximately €54 million.
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12
Dec
2016

CPI Hungary sells two properties in Budapest

by Ákos Budai
CPI Hungary has sold its V188 office building and an adjacent development land (V190), both located on Budapest’s Váci corridor, to a Hungarian investment group. CPI Hungary plans to use the funds for increasing the value of its current portfolio and to implement new green investments. 
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12
Dec
2016

Mint Investments sells Panorama Business Center in Prague

by Ákos Budai
Mint Investments, a Central European real estate investment & asset manager sold Panorama Business Center in Prague. The buyer was REDSIDE, manager of real estate open-ended investment fund NOVA Real Estate (SICAV). The seller was advised by CBRE.
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12
Dec
2016

Atenor sells Budapest office building to Czech fund

by Ákos Budai
Belgian real estate developer Atenor announced the sale of Váci Greens Building C to Czech investment fund ZFP realitní fond (managed by ZFP Investments). This building is one of the three buildings completed by Atenor within its Váci Greens development in Budapest. Building C, completed in June 2015, comprises 18,500 sqm of office space, fully let to General Electric. 
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09
Dec
2016

HB Reavis sells Bratislava office building

by Ákos Budai
HB Reavis has sold Twin City A, a modern office building located in close proximity to Bratislava city centre in Slovakia, to Prvý realitný fund (PRF), managed by IAD Investments with a transaction yield of 6.5%. The building, located in the Mlynske Nivy business district of Bratislava, was completed in 2015 and offers approximately 16,500 sqm of leasable space, which is fully let to a number of tenants, including PWC, Merck Sharp & Dohme, Bayer, BNP Paribas Slovensko and Sfera.
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08
Dec
2016

Futureal Group sells Polish shopping centre for €88.5 million

by Ákos Budai
Futureal Group has sold its Polish retail asset, Nova Park to a joint-venture formed by MAS Real Estate Inc. and Prime Kapital Limited for €88.5 million. Over the last four years Nova Park, located in central Gorzów in western Poland has become the largest shopping centre in the region with a catchment of 370,000 people. 
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07
Dec
2016

Skanska sells Warsaw’s Atrium 2 for €88m

by Ákos Budai
Skanska has sold Atrium 2 to HANSAINVEST Hanseatische Investment-GmbH, one of the largest investment companies in Germany. Located near Rondo ONZ, Atrium 2 is Skanska’s eighth and newest investment to be developed in the business centre of Warsaw. The building has three tenants Credit Suisse, DLA Piper and Bravura Solutions.
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05
Dec
2016

WP Carey purchases Polish warehouse for €32m

by Ákos Budai
CP:17 – Global, a U.S.-based non-traded REIT focused on investing in income-producing commercial properties and real estate-related assets, announced that it has completed the sale-leaseback of a cold-storage facility from Greenyard (formerly Greenyard Foods), one of the world’s largest fruit and vegetable suppliers. The 28,700 sqm (309,759 sq ft) facility is located just outside of Warsaw, Poland and was purchased for approximately €32 million. The proceeds from the 20-year triple-net lease will be used to pay down debt associated with the facility. 
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Latest news


New leases

  • FitFabric will open a fitness club in the WIMA Widzewska Manufaktura mixed-use complex, developed by Cavatina Holding on al. Piłsudskiego in Łódź.
  • Stokrotka, Polish grocery chain has leased almost 3,000 sqm (including 125 sqm of office space) in 7R Park Bydgoszcz I warehouse complex.
  • German healthcare services provider doctari group has opened a technology hub in Iulius Town, the mixed-use project based in Timișoara. The company plans to hire 30 tech specialists in the new office.

New appointments

  • GalCap Europe is further expanding its team. With immediate effect, Mag. Peter Tatzl will strengthen the fund and investment management division as Director of Investment.
  • Czech developer Contera has promoted Svetozár Rohoň MRICS as Country Manager for Slovakia.
  • Vlad Săftoiu has been appointed Head of Research at real estate consultancy Cushman & Wakefield Exhinox. He has been working for the agency since September 2017. He has a Bachelor’s degree in International Relations at the University of Essex and a Master’s degree in International Security at the University of Warwick in the UK.


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