Starting May 2020, Kraków’s Podium Park office building is managed by specialists from Globalworth. The in-house property management model, which allows operating closer to tenants, is one of the most important elements of the strategy of the investor.
Globalworth has announced changes to the company's Board of Directors. Bruce Buck, who was appointed as an Investor Director by Zakiono on 13 December 2017, has ceased to be a Director with immediate effect and Martin Bartyzal has been appointed as an Investor Director with immediate effect.
Globalworth is significantly scaling back its construction and development programme and suspended new investment activity. The company posted an update on COVID-19’s implications for its operations.
Globalworth released its annual financial reports for 2019 and issued a COVID-19 statement. Since the beginning of the year, Globalworth has further improved its liquidity, which is currently close to €600 million of available cash.
Globalworth announced changes to the Company's Board of Directors and an update regarding the COVID-19 outbreak. Ioannis Papalekas, the Founder, is stepping down from the Board of Directors of Globalworth but will remain as CEO. Dimitris Raptis, the current Chief Investment Officer and Deputy CEO, has been appointed co-CEO.
Globalworth signed a lease with DS Smith for its second logistics park in Timisoara, a project belonging to Globalworth Industrial, its industrial and logistics sub-brand. DS Smith decided to relocate its Service Center operations from Timisoara, renting more than 6,000 sqm at the park. Following this new collaboration, the occupancy rate in all completed industrial projects under the Globalworth umbrella reached 100%.
CPI Property Group continued to purchase Globalworth shares throughout the week. Following the recently executed transactions and an acquisition announced last week, CPI Property Group now holds 29.4% of the company’s voting rights.
Following an acquisition, CPI Property Group crossed the 6% shareholding threshold in Globalworth Real Estate Investments Limited. As of 23 January 2020, CPI Property Group holds 13,391,959 shares of Globalworth, representing 6.035% of Globalworth's voting rights.
Globalworth Real Estate Investment, by buying a 50% stake from Elgan Group, has become the sole shareholder of real estate developer Elgan Offices. The two companies developed the Renault Bucharest Connected (RBC) building located in the western part of Bucharest. Elgan Group is owned by Israeli businessman Simon Roth.
Globalworth Industrial, the industrial and logistics sub-brand of Globalworth, has begun construction at Constanța Business Park, the largest mixed-use project in Romania. The business park is being developed on a plot of some 100 hectares and will include industrial and logistics, production and service space, as well as office buildings and an intermodal hub.
Modesta Real Estate has found a new office location for one of the leading suppliers of LPG in Slovakia. FLAGA, part of UGI International, will move into about 300 sqm in the Westend Business Zone close to the city centre of Bratislava in May 2023.
Szerémi Office Building in Budapest welcomed an unnamed new tenant which has signed a long-term lease agreement for 1252 sqm of space in the property. The complex of three interconnected buildings provides a total floor space of nearly 10,500 sqm.
Kucera Logistics Group Sp. z o.o Sp. K. has decided to open a new distribution centre at Panattoni Park Pruszków V. The tenant will occupy nearly 3,300 sqm of warehouse and office space in the new location. AXI IMMO represented Kucera Logistics Group in the transaction.
New appointments
CPI Property Group has appointed Karol Klin as Head of Office Leasing in Warsaw from the 1st of February. He is a recognised specialist in the commercial real estate sector. He gained more than 20 years of experience in such companies as Cornerstone, Globalworth, Echo Investment, Skanska and GTC.
Daniel Cateliu has been appointed as Director in the Industrial & Logistics department of real estate consultancy CBRE Romania. He is currently pursuing an EMBA at the University of Sheffield in the UK. Cateliu is a graduate of the Faculty of Political Sciences within the SNSPA, subsequently following a master's program and earning an Erasmus scholarship at the University of Trieste in Italy.
Oscar Kazanelson - the current Chairman of the Supervisory Board of ROBYG - has been appointed Chairman of the Supervisory Board of Vantage Development. This is related to the decision to build synergies within the TAG Immobilien Group.
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