ARTICLES IN Investment  TOPIC

News Credit Suisse Asset Management buys Warsaw office building
09
Sep
2019

Credit Suisse Asset Management buys Warsaw office building

by Property Forum
pbb Deutsche Pfandbriefbank provided an investment loan and a VAT facility of €90 million in total to two real estate funds managed by Credit Suisse Asset Management. The funds will utilise the proceeds for the acquisition of the prime office building Astoria in Warsaw from the developer Strabag. pbb acted as arranger and sole lender under the facilities.
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News Atenor sells Budapest office building to local fund
09
Sep
2019

Atenor sells Budapest office building to local fund

by Property Forum
Atenor announced that an agreement has been reached for the sale of the fifth Váci Greens Building to a Hungarian private fund set up by MEFG Zrt. The delivery of the Váci Greens E building, which is being sold in a future state of completion, is scheduled for September 2020.
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News KGAL acquires first Czech asset
09
Sep
2019

KGAL acquires first Czech asset

by Property Forum
KGAL has acquired the DRN office building in Prague for a pan-European special real estate Alternative Investment Fund (AIF). The purchase is in line with KGAL’s strategy of Europe-wide diversification across prime locations, and is its first investment in the Czech Republic. The fund now holds properties in Germany, Austria, Ireland, Hungary, the Netherlands, Poland and the Czech Republic.
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News Skanska sells office buildings in Poland for €214 million
09
Sep
2019

Skanska sells office buildings in Poland for €214 million

by Property Forum
Skanska has sold two office buildings in Poland – Nowy Targ in Wroclaw and High5ive in Krakow –to real estate funds managed by Credit Suisse Asset Management Global Real Estate.
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News Zeitgeist AM buys Warsaw building complex
05
Sep
2019

Zeitgeist AM buys Warsaw building complex

by Property Forum
Zeitgeist Asset Management, a company specialising in property development and asset management for the private and institutional investors, purchased from the Orange company, on 29 August, a complex of real properties located 300 meters from the Palace of Culture and Science, at Nowogrodzka and Św. Barbary Streets in Warsaw.
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News Metro Properties sells and leases back CEE portfolio
05
Sep
2019

Metro Properties sells and leases back CEE portfolio

by Property Forum
Metro Properties, the real estate company of METRO AG, sold 11 Cash & Carry stores in Poland, Hungary and Czech Republic in a sale-and-leaseback transaction. The portfolio has been acquired by FLE GmbH, Vienna, subsidiary of French LFPI Group, investing on behalf of an AIF regulated fund. The transaction was finalized in August 2019, with a total volume exceeding €250 million. Metro and Makro Cash & Carry will continue to operate all wholesale locations on the basis of long-term lease contracts.
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News ConvergenCE buys Buda office building
05
Sep
2019

ConvergenCE buys Buda office building

by Property Forum
Budapest-based commercial real estate investor and developer, ConvergenCE has announced the acquisition of the Central Business Center office building in the 2nd district of Budapest. ConvergenCE acquired the building in Horvát Street from Immonfinanz.
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News Cromwell acquires investor interest in Polish retail fund
05
Sep
2019

Cromwell acquires investor interest in Polish retail fund

by Property Forum
Cromwell Property Group has exercised its pre-emptive right to acquire a third-party investor interest in the Cromwell Polish Retail Fund (CPRF), which it has managed since acquiring the investment and asset manager from GE Capital Real Estate in 2013. The fund contains seven catchment dominating shopping centres with a gross asset value of circa €600 million. Since taking over the management of the fund, Cromwell has completed several major asset management initiatives including several refurbishments and expansions, as well as numerous lettings including a 170,000 sqm deal with Auchan and Schiever Polska across eight long-term leases in 2015.
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News Immofinanz expands Stop Shop portfolio in CEE
29
Aug
2019

Immofinanz expands Stop Shop portfolio in CEE

by Property Forum
Immofinanz is driving the steady growth of its Stop Shop retail park brand, as previously announced, with a next step that includes the expansion of the portfolio to 90 locations. The most recent acquisitions include six fully rented retail parks in Slovenia and Poland with roughly 54,000 sqm of rentable space. The annual rental income based on invoiced rents amounts to approximately €6.6 million, which represents a gross return of 8.6%.
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News pbb provides €52 million for Budapest acquisition
29
Aug
2019

pbb provides €52 million for Budapest acquisition

by Property Forum
pbb Deutsche Pfandbriefbank provided an investment loan and a VAT facility totalling €52 million to an open-ended special alternative fund managed by Warburg-HIH Invest Real Estate. The fund will use the proceeds for the acquisition of the newly built White House office building in Budapest from developer GTC. pbb acted as arranger and sole lender under the facilities.
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Latest news


New leases

  • The Embassy of the Republic of the Philippines has moved to Bucharest-based SkyTower, operating out of a 580 sqm space under a 5-year lease agreement. The building also hosts the Embassy of the Republic of Korea in Romania.
  • De Heus, a producer of animal feed, which has built a strong presence in the Polish market, has leased 7,050 sqm of warehouse and office space at GLP Łódź III Logistics Centre. This is the first Class A warehouse of De Heus in Poland. The tenant was advised by specialists from Newmark Polska during the search for the right space and throughout the lease negotiations.
  • Endava has leased an additional 2,400 sqm in the UBC 1 building, part of the Palas Iași mixed-use complex owned by Iulius. This expansion brings its total office area to 5,500 sqm.

New appointments

  • MLP Group strengthened its management structures. Maciej Müldner, a manager with over 30 years of experience in finance at international corporations and banks, joins the Management Board. He will be responsible for further strengthening the Group’s financial position.
  • Indotek Group has welcomed Viktor Nagy, who joined us in September as Head of Non-Retail Sales. With more than 20 years of experience in the real estate sector, Viktor has held leadership positions at international companies such as Immofinanz, EHL Real Estate Hungary and Atlas Estates. In his new role, he will be responsible for further developing our non-retail sales strategy and strengthening international relations.
  • Paweł Reszczyński has been promoted to Land Development Director and will be responsible for coordinating land acquisition and investment processes for new logistics and industrial projects. Developing the land bank remains a key pillar of MLP Group's long-term expansion strategy.

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