BIG Shopping Centers Ltd., the controlling shareholder (~95%) of BIG CEE, successfully raised NIS 205 million (approx. €55 million) by issuing secured bonds in the Israeli stock exchange by refinancing the following shopping centres: BIG Fashion Kragujevac, BIG Kruševac and BIG Fashion Outlet Inđija.
Cavatina Holding, the largest Polish office developer, established a bond issue program worth up to PLN 200 million and submitted a prospectus to the Polish Financial Supervision Authority (UKNF), which, if approved, will form the basis of the issue. Michael/Ström Dom Maklerski has been engaged to organize the issue.
Yovav Carmi, CEO and Ariel Ferstman, CFO of Globe Trade Centre talked to Property Forum about GTC`s recent acquisitions, the sale of the Serbian office portfolio, coping with COVID-19's long-term effects and their new investment strategy.
Institutional investors have acquired Echo Investment's bonds with a total value of PLN 195 million. The obtained funds will be allocated to the company's development, particularly in the promising residential sector.
White Stone Development, a part of White Stone capital group has successfully placed its first unsecured bond issue worth PLN 11 million. Due to the demand exceeding the maximum bid, the reduction of subscriptions reached nearly 20%.
CTP Group recorded a profit of €99 million (more than CZK 2.5 billion) in the first half of 2020, while its Portfolio of Class A property under management grew to over 5.8 million sqm. During the first six months of the year, CTP Group added 268,926 sqm of lettable area to its portfolio, and plans to grow by additional 595,000 sqm by year-end. The pandemic has transformed the nature of demand, but rental incomes increased in the second quarter.
On 5 August 2020, CPI Property Group auctioned HUF 30 billion (about €86 million) of senior unsecured green bonds with a 10-year bullet maturity. The bonds carry a coupon in Forint of 2.25% and were sold at a yield of about 2.02% following a robust investor response with bids of more than HUF 45 billion received at auction. The issuer was the Group’s subsidiary CPI Hungary Investments Kft., with an unconditional guarantee from CPIPG. Raiffeisen Bank Zrt. acted as sole mandated lead arranger on the offering.
Less than four months after deciding to enter Panattoni Park Tricity East I, Chemart International Trader has decided to expand and occupy an additional 3,000 sqm. The company was represented in the negotitions by Axi Immo.
Newgate Investment has signed lease agreements for two Polish premises with a total area of around 1,200 sq m, previously leased by Neonet. A Rossmann shop will open on the space in Zgierz and a Media Expert shop in Grodzisk Mazowiecki.
Three new tenants from the science and education sectors have chosen Wrocław's Silver Forum office building for their premises. The largest space - almost 2 thousand sqm - will be occupied by the private Navigo Wrocław Secondary School.
Building on the successes of last year, GARBE Industrial Real Estate CEE is responding by promoting Martin Stratov to the position of GARBE Director for the Czech Republic and Slovakia, Veronika Zacha will be the new Head of Business Development and Construction in the Czech Republic and Jan Hradecky will move to the position of GARBE Project Management Manager for the Czech Republic.
Gellért Berkes has been appointed as Head of Property Management at ConvergenCE. He has been a member of the real estate development team for two and a half years. He has nearly 15 years of professional real estate experience.
MLP Group has announced that Tomasz Zabost has resigned as a member of the management board with immediate effect, without stating the reasons for his resignation. He became a member of MLP Group's management board in January 2015.
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