The Catella European Residential (CER) Fund has acquired a mixed-use development project of residential apartments and student accommodation in the Polish city of Kraków for around €20 million from U.S. developer Hines.
Accor has entered into a binding agreement to sell its 85.8% stake in Orbis to AccorInvest at a price of PLN 115 per share, corresponding to proceeds for Accor of €1.06 billion (PLN 4.55 billion), in line with Orbis’ Gross Asset Value. This completes the Orbis transaction, following the acquisition by Accor of Orbis’ Management and Franchise business last October for €286m.
CBRE assisted the Hexagon group of companies in selling a portfolio of three office buildings in Cluj-Napoca. By adding this new transaction, the volume of real estate investments reaches almost €200 million in Cluj-Napoca, thus maintaining its attractivity after Bucharest, in terms of real estate investment.
AFI Europe N.V. and NEPI Rockcastle announced the conclusion of the transaction for the acquisition of NEPI Rockcastle’s office portfolio in Romania, with a total GLA of 118,500 square meters. The transaction value is in excess of €300 million.
GIC, Singapore’s sovereign wealth fund, has signed an agreement to acquire a pan-European logistics real estate portfolio (Maximus) from funds managed by affiliates of Apollo Global Management, Inc., a leading global alternative investment manager, for a net consideration of approximately €950 million. This acquisition is in line with GIC’s strategy to scale up its fully-owned P3 logistics platform and reinforce P3’s position as a leading developer and manager of logistics properties in Europe.
With the payment transferred on 13 December, Wing has acquired a 100% stake in Lisala, which in turn owns a 56 % stake in ECHO Investment, a company listed on the Warsaw Stock Exchange (WSE). This acquisition makes Wing a major real estate firm at the regional level. Supporting Echo Investment’s long-term growth program, Wing enters as a strategic investor. At the operational level, the two companies will continue to operate independently.
Europa Capital has sold the Radisson Collection hotel in Warsaw on behalf of its value add fund, Europa Fund V to Wenaas Hotels Europe A/S, part of Wenaasgruppen. The sale follows the comprehensive refurbishment of the property, which has been upgraded from a Radisson Blu to a five star Radisson Collection branded hotel, the first in Poland. The 311-room hotel will continue to be operated by Radisson Hospitality AB under an International Management Agreement.
GTC has closed the sale of the 16,100 sqm Neptun Office Center in Gdańsk to buyer CBRE Global Investors. The Class A office building is located in Gdańsk Wrzeszcz, at Aleja Grunwaldzka. Completed in 2014, Neptun Office Center offers 16,100 sqm of modern office space and 160 parking spaces.
CPI Property Group announced the acquisition of the Warsaw Financial Center office building in Warsaw, Poland. CPIPG acquired WFC by purchasing 100% of shares in a company owned since 2012 by Allianz Real Estate (acting on behalf of Allianz Group companies) and Curzon Capital Partners III, an investment core-plus fund managed by Tristan Capital Partners.
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