ING Bank, pbb Deutsche Pfandbriefbank and PKO Bank Polski have jointly underwritten and funded a €210 million term loan facility for Magnolia Park Shopping Centre. The refinancing of the mall, which is owned by real estate funds managed by Blackstone and managed by Multi Poland, is one of the largest real estate financing deals to take place in Poland this year.
Neinver, a Spanish developer, investor, property and fund manager, has decided to enter the Czech market, the eighth market in which the company has a presence. Neinver has partnered with The Prague Outlet to forge a joint venture launching Prague The Style Outlets, the first premium outlet centre in the Czech Republic. Neinver will be in charge of leasing, retail and property management. The joint venture is financed by PPF Bank.
Erbud SA has been chosen as the contractor of the shell of Galeria Libero, which is being developed by Echo Investment in the southern part of Katowice.
In H1 2016, total modern retail stock in Poland rose to more than 13.5 million sqm GLA. The key trends include new shopping centre and retail park openings in cities below 100,000 inhabitants and the growth of the outlet centre sector in agglomerations with 200,000–400,000 inhabitants. Cushman & Wakefield has released its data on the Polish retail market in H1 2016 in its report Property Times: Increased market competition calls for a quick response.
Atrium European Real Estate Limited, an owner and manager of shopping centres and retail real estate in Central and Eastern Europe, has announced its results for the second quarter and six months ended 30 June 2016.
Romanian real estate developer Primavera Development will build a shopping centre in the centre of Sibiu, on the plot of the former Simerom plant. Festival Shopping Center is set to have a 44,000 sqm rentable area and is expected to be opened in H2 2018. The investment in the mall will amount to 70 million euros.
The latest Colliers report reveals a stable retail property market in Bulgaria during the first half of 2016. Modern shopping centers in Sofia retained the absorption levels from the previous period – nearly 15,000 sqm of leasable space, compared to 16,370 sqm in the second half of 2015. In well-established projects enjoying active demand, this equals to an average share of 4% from the GLA.
Mitiska REIM, an investor specialised in European retail parks, has tannounced the successful second closing of its First Retail International 2 Fund (FRI 2) close to €190 million, significantly exceeding its original target of €120 to 150 million. Allowing for gearing of 50%, the Fund’s gross investment capability is now close to €400 million.
Delta Holding, a Serbian real estate investor, has announced that next year it will begin building a shopping mall in Banja Luka, the largest investment in the Republic Srpska region of Bosnia-Herzegovina.
Award-winning UK architecture practice Make Architects has been appointed to design a state-of-the-art office building in Bratislava’s Central Business District. HB Reavis has been chosen as the development manager of the new mixed-use scheme which will be developed on the site of the current Apollo Business Centre I.
Signify is relocating its existing headquarters in Lódź. The new office, located in the city centre in the Hi Piotrkowska complex, has an area of over 2,800 sqm. The tenant was assisted in the signing of the contract and the process of arranging the new office by the consulting firm CBRE.
Magwise Medical Centre is a new tenant of the Wola Retro office building in Warsaw owned by Develia. The clinic, which specialises in mental health, has taken nearly 390 square metres of space on the ground floor of the building.
Logistics company Fiege will lease approximately 5,000 sqm in the ONE industrial park in Lovosice built by Cromwell Property Group. The transaction was arranged by Matěj Indra, head of the industrial department at 108 Agency Czech Republic.
New appointments
Lucia Niculae has been appointed Business Development Director of Romanian construction company Pedro Construct. She has been an investor since 2018 and currently manages her own property portfolio.
108 Agency promoted Matej Indra to Head of Industrial Agency for the Czech Republic.
Michał Ozimek has joined the Valuation department at Corees Polska - Commercial Real Estate, taking up the position of Senior Valuation & Investment Analyst. Working in the agency's Warsaw branch, he will be responsible for supporting processes related to the development of property valuations.
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