Spanish investment fund, Azora Europa l, has sold Galleries Louvre, their prime office property in Prague 5, to Redstone Real Estate, a private equity platform. The counterparties agreed not to disclose the price. The property is a mid-sized office building offering approximately 4,800 sqm of prime administrative space and is fully and long-term let.
Pradera, a retail property fund and asset manager, has announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a €900 million transaction agreed with IKEA Centres, the Fund has signed a contract to acquire 25 prime retail parks next to IKEA stores in eight European countries, including Poland and the Czech Republic.
Commerz Real, a subsidiary of Commerzbank, has purchased a historical office building, " Na příkopě 33" in the centre of Prague for its open-ended real estate fund HausInvest. The seller is Komerční banka, a subsidiary of Société Générale. The transaction price has not been disclosed.
2017 will deliver only 17,000 sqm of new space to the Brno office market. When considering the size of the market, together with Budapest, this is the lowest increment of new offices in Central and Eastern Europe – 3.3%. A lack of new office space may cause rental prices to increase. These figures are based on an analysis made by Cushman & Wakefield, which compares the office markets across 12 cities in Central Europe.
Colliers International announced that Luke Dawson has returned to Colliers International, effective immediately, in the role of Managing Director & Head of Capital Markets for Central & Eastern Europe (CEE).
P3 has completed the first two warehouses at P3 Prague D11, developed partly on a Build-to-Suit basis for Exiteria and FM Logistic, comprising a total of 60,000 sqm. The warehouses are among the largest buildings planned for the park and account for over a third of its total size. The rest of the site can accommodate eight further warehouses ranging from 3,000 sqm to 26,000 sqm. After completion, P3 Prague D11 will provide a total of 155,000 sqm.
Confectionery Batida has joined the tenants of the LIXA City Gardens retail concept that is being arranged in the LIXA office complex near the Daszyński Roundabout in Warsaw.
Vileda expanded its office located in MyHive IO-1 in Warsaw, owned by CPI Property Group, to 712 sqm. Przemysław Urbański from Avison Young Poland supported Vileda in the negotiation process.
The LUX MED Group extended a 2,200 sqm lease agreement in the O3 Business Campus in Kraków managed by EPP
Axi Immo is developing its Capital Markets Department. As of November 2023, Jakub Grabara was appointed as Associate Director in the Capital Markets Department. He will be responsible for transactional services, i.e., acquiring, purchasing, and selling commercial real estate.
Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.
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