ECE expands its activities in the development of logistics properties to the international market and realizes a logistics project in Poland for the first time.
ECE has launched its inaugural European residential real estate fund and successfully raised equity commitments from renowned institutional investors, including two large highly reputable German insurance groups. With the capital raised in the first closing, the fund plans the purchase of investments with a volume of more than €350 million. Further capital commitments from institutional investors will be raised in the coming months. The strategic partner for the residential build-to-rent investments of institutional investors in the newly launched fund is the specialized Group company ECE Living. It is supported in concept and product design as well as in capital raising by the investment banking boutique Victoria Partners.
Penta Real Estate completed the Business Centrum Tesla 2 office building project in Košice by selling it to the Austrian company European City Estates. The BCT 2 provides 14,600 square meters of office space. The largest tenants include the companies T-Systems Slovakia, Deloitte, Diebold-Nixdorf and Colonnade. On the seller side, the transaction was advised by JLL and the purchase price was not disclosed upon agreement between the parties.
JLL advised Atrium European Real Estate Limited in the disposal process of two Polish shopping centres, namely Atrium Felicity and Atrium Koszalin to the ECE European Prime Shopping Centre Fund II, managed by the independent fund managing company ECE Real Estate Partners. The parties signed on 9th May 2019 an agreement concerning the sale of both assets for €298 million, representing around 3% premium to book value as at 31 March 2019. The transaction is subject to the fulfilment of certain conditions precedent and is expected to be completed in the third quarter of 2019.
Penta Real Estate has sold the Business Centrum Tesla 2 office building project in Košice to Austrian company European City Estates. BCT 2 provides 14,600 square meters of office space. The largest tenants are T-Systems Slovakia, Deloitte, Diebold-Nixdorf and Colonnade. On the seller side, the transaction was advised by JLL. The purchase price was not disclosed upon agreement between the parties.
ECE plans to develop a new shopping centre in Budapest. The project area is located in the North-western part of the Hungarian capital, close to the Danube River, on the site of a former textile factory in the Óbuda district. It is planned to have over 170 shops on three levels and a leasable area of more than 50,000 sqm. Construction start for the project is scheduled for 2019, and the opening is planned for 2021.
Deutsche Hypothekenbank is financing the Galeria Baltycka shopping centre in Gdansk for real estate company Shopping-Center Galeria Baltycka GmbH und Co. KG sp.K. The financing volume amounts to almost €81 million, of which 50% will remain with Deutsche Hypo on a long-term basis.
GIENGER Bohemia, a trading company focused on wholesale activities in the field of heating, sanitary equipment, installations, and utility network is a new tenant in the Arete Park Plzeň. The leasable area for GIENGER Bohemia is 3.511 sqm and the operation starts as of March 1st, 2023. The transaction has been mediated by Knight Frank Czech Republic.
Logistics operator JAS-FBG has chosen 7R City Flex Katowice I as a base for its operations, where it will occupy over 6,000 sqm. The facility is scheduled to be commissioned in May 2023.
One of the leading global distributors of chemical raw materials is a new tenant of the P180 office building in Warsaw, developed by Skanska. The new tenant will have approx. 1,500 sq m of office space. The transaction process was facilitated by the consulting company Savills.
New appointments
Milica Nikolic, Marko Radulovic, Nenad Suzić, Mina Kalezic, Srdjan Teofilovic, Tamara Kostadinovic and Goran Zivkovic have been promoted to Partners at CBS International Serbia, part of Cushman & Wakefield Group.
JLL Bratislava branch announced that Lukáš Králik, Senior Consultant at the Office Agency team, became the newest member of the Royal Institution of Chartered Surveyors (RICS) in the field of Commercial Real Estate. With this accreditation, JLL raised the number of RICS accredited professionals to eight.
Dominik Pawlak takes the position of Director in the Office Agency department at Avison Young Poland, where he will be responsible for the company's key clients, as well as training junior team members.
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