ARTICLES IN Investment  TOPIC

News Echo Investment and EPP purchase development land in Warsaw
05
Oct
2016

Echo Investment and EPP purchase development land in Warsaw

by Ákos Budai
Echo Investment – a Polish developer – and Echo Polska Properties – an international fund operating as a REIT - signed agreements to jointly buy and jointly develop a real property at ul. Towarowa 22 in Warsaw from Griffin Real Estate, a Polish private equity fund. The buyers will pay €120 million for the property – €78 million upon signing the agreement, while the remaining amount will be paid after certain planning conditions are met.
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News Echo Polska Properties purchases seven office buildings
05
Oct
2016

Echo Polska Properties purchases seven office buildings

by Ákos Budai
Echo Polska Properties – an international fund operating as a REIT –is purchasing seven office buildings with almost 112,000 sqm of GLA from Echo Investment, a Polish developer. The total value of the properties as at the agreement amounts to almost €264 million. The sold properties are: O3 Business Campus in Kraków (phase I, II and III), Tryton Business House in Gdańsk, A4 Business Park in Katowice (phase III) and Symetris Business Park in Łódź (phase I and II).
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News German-based asset manager buys Budapest office building
29
Sep
2016

German-based asset manager buys Budapest office building

by Ákos Budai
Park Atrium – one of the most recognisable Budapest office buildings, leased to Deloitte, ING and Roche - was sold last week. German-based Asset Manager Corpus Sireo - on behalf of one of their managed accounts - has purchased the building from Accession Fund managed by GLL Real Estate Partners for an undisclosed price believed to be in excess of €50 million.
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News Saved by South African investors
28
Sep
2016

Saved by South African investors

by Ákos Budai
In the last quarter alone South African investors have spent €1 billion in CEE and it is most likely that they won’t stop chasing higher yields anytime soon. Even though investments in Central and Eastern Europe are generally considered risky by European standards, coming from other parts of the world opportunities in the region may seem rather safe. We report from CEE Property Forum 2016, co-organised by Portfolio Property Forum and RICS, where over 300 visitors and 70 speakers came together to discuss the most pressing issues concerning regional investment markets.
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News Investors go for development land in Hungary
23
Sep
2016

Investors go for development land in Hungary

by Ákos Budai
Last year there has been a significant increase of interest from investors for logistics properties and properties for development, which signals the emergence of the automotive and e-commerce industry as well as the start of large-scale real estate developments – says DLA Piper’s annual Hungarian Real Estate Intelligence Report. According to DLA Piper, the increased acquisition activity from developers will translate into new commercial assets being introduced into the market around 2017 Q4 and 2018 Q1.
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News TriGranit sells Bonarka City Center
22
Sep
2016

TriGranit sells Bonarka City Center

by Ákos Budai
TriGranit has completed the sale of Bonarka City Center (BCC) in Krakow to Rockcastle, a property company specializing in retail centres in Central and Eastern Europe. TriGranit, which is owned by TPG Real Estate and was the developer of the shopping centre, will remain the property manager for two years. In addition to managing BCC, TriGranit will remain active in Krakow and is currently developing three office buildings in the ‘Bonarka for Business’ (B4B) area.
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News CA Immo purchases Millennium Towers in Budapest
19
Sep
2016

CA Immo purchases Millennium Towers in Budapest

by Ákos Budai
CA Immo has signed a sales and purchase agreement to acquire the Millennium Towers Class A office complex comprising of 70,400 sqm GLA in Budapest, Hungary. The transaction volume of the fully rented asset amounts to €175 million, the annual rental income reaches €12 million. 
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News HB Reavis sells two more office buildings in Warsaw
15
Sep
2016

HB Reavis sells two more office buildings in Warsaw

by Ákos Budai
International real estate developer HB Reavis has signed a preliminary sale agreement to sell two of its buildings, situated in Warsaw, to Savills Investment Management on behalf of a Global Pension Fund client. In one of the largest transactions of the year in Poland and also in Central and Eastern Europe amounting to €186 million, Savills Investment Management has acquired buildings A and B of the Gdanski Business Center in Warsaw, totalling 48,000 sqm.
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News HB Reavis sells Konstruktorska Business Center in Warsaw
07
Sep
2016

HB Reavis sells Konstruktorska Business Center in Warsaw

by Ákos Budai
International real estate developer HB Reavis has sold its Konstruktorska Business Center to international real estate investment company Golden Star Estate B.V. in the developer’s first divestment in the Polish market.
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News Echo Investment publishes H1 2016 results
05
Sep
2016

Echo Investment publishes H1 2016 results

by Ákos Budai
Echo Investment has published its H1 2016 results. The Group had the revenue of PLN 280.5 mln in H1 2016 (compared to PLN 273.8 mln in H1 2015), a gross sales profit of PLN 145.4 mln (compared to PLN 135 mln), an operating profit of PLN 404 mln (compared to PLN 31.3 mln) and a net profit of PLN 299 mln (compared to PLN 22.7 mln).
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Latest news


New leases

  • LCP Properties has finalised two further leases for M Park Pionki. The CCC shoe shop will occupy 400 sqm in the building, while the area of the Xtreme Fitness gym will reach 600 sqm.
  • Two more companies have become tenants of Diuna, part of the Warsaw office portfolio of Syrena Real Estate and PineBridge Benson Elliot. Intrum has leased nearly 370 sqm and Carrier Chłodnictwo about 500 sqm in the complex on Taśmowa Street. In addition, WDX has extended its lease for nearly 500 sqm of space.
  • Castorama has opened its 103rd shop in Poland. The outlet in the compact Smart concept is located in the Dekada shopping centre, at Armii Krajowej Street in Grójec. It is a 2,000-square-metre retail space, an outdoor garden zone and an assortment of around 15,000 off-the-shelf products.

New appointments

  • Emilia Dębowska has been promoted to the position of Head of Sustainability Europe of Panattoni. In her new role, she will be responsible for Panattoni’s integrated sustainable development strategy encompassing both the company’s business goals and the development of its projects in Europe for every country in which the developer is active.
  • Crosspoint Real Estate has appointed Oana Popescu as Partner. She has joined the Crosspoint team in the summer of 2017 and took over the lead of the residential department in 2022.
  • Urszula Sekuła has joined the Retail Institute team as Business Development Director. She will be responsible for business development in Poland and three European markets.

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