A key challenge facing many real estate corporates, who historically have been reliant on the bond markets, is the quantum of near-term maturities. This includes the Nordics where JLL estimates circa 32% of real estate corporate bonds are due to mature within the next 2 years.
Today, the Governing Council of the European Central Bank decided to raise the three key ECB interest rates by 50 basis points and approved the Transmission Protection Instrument (TPI) in an effort to make sure inflation returns to its 2% target over the medium term.
The European Central Bank has highlighted growing vulnerabilities in housing markets and stretched financial asset valuations in its Financial Stability Review for November 2021. The ECB has also warned of an increased likelihood of a correction in both residential and commercial real estate markets.
The Aura Centrum Olsztyn shopping centre saw the opening of the largest Ochnik brand store in the Warmia and Mazury region in Poland. The shop occupies an area of 433 sq m and is located in the modernised passageway of the gallery on level +2.
Zwieger, a brand selling small household appliances for the kitchen, has joined the ranks of tenants at Designer Outlet Sosnowiec (southern Poland). The newly opened showroom has 105 sqm.
Aviareps will lease almost 187 sqm of office space in the newly modernised LIFE Building in Warsaw, formerly the Atrium Tower, owned by Austrian company VIG FUND. JLL Polska is responsible for the full commercialisation of the LIFE Building, while Biuro Na Miarę represented the tenant, Aviareps, in the negotiation process.
New appointments
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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