ARTICLES LABELLED WITH TAG investment

Mitiska REIM, a specialist investor in European retail parks, announced a major new strategic partnership with Karuzela Holding. Under the terms of the agreement, Mitiska REIM and Karuzela will form a joint venture in Poland, and Mitiska REIM’s FRI 2 fund will acquire a 50% holding in 2 retail parks and 2 gallerias owned by Karuzela, with a total gross leasable area (GLA) of 35,600 sqm, and both parties will co-develop 4 additional projects with a total GLA of approximately 60,000 sqm.

Hines and Zeus Capital Management announced the completion of the sale and purchase of the Graffit building in Warsaw. The property owned by Hines Russia & Poland Fund (HRPF) was sold to TAN Poland Sp. z o.o., a company managed by Zeus Capital Management. This is Zeus’ first investment in Poland and it is part of its commercial real estate platform dedicated to Central and South East Europe.

Colliers International sees the most important macro indicator for CEE in 2019, Eurozone interest rates, flat-lining at zero. This should stem some of the potential angst over tightening credit conditions, keep liquidity high, buyers interested and help pricing to plateau. Colliers International foresees selective compression in capital city prime office yields and still like the logistics sector. Absent a Eurozone financial crisis, funding from lenders should remain a support. Colliers International published its latest CEE report.

Cromwell Property Group has completed the sale of the Pohořelice Industrial Park to an undisclosed buyer for an undisclosed sum. The 44,444 sqm complex, which is situated about 27 km south of Brno, comprises a logistics building, a fully-refurbished cross-dock building and a workshop together with an assembly unit. The asset formed part of the Cromwell European Industrial Fund (CEIF) portfolio.

According to JLL, CEE's real estate investment transactional volume for 2018 was in excess of €13.23 billion and recorded an 11% increase over 2017 (€11.92 billion). JLL has registered continued appetite from investors for the full range of assets across the entire region. Poland smashed its previous record volume set in 2006 (€5.05 billion) with a spectacular €7.2 billion traded, and secured a massive regional share of 54%. Poland was followed by the Czech Republic (€2.51 billion - 19% share), Hungary (€1.85 billion - 14%), Romania (€900 million - 7%) and Slovakia (€820 million - 6%).

In last 10 years, student housing has evolved into a highly appealing asset class, now ranked fourth for development and investment by over 200 investment managers. With student numbers growing and revenues delivering as promised, even during economic downturns, it is regarded as a crisis-resilient asset class, good for investment in 2019, according to a new study released by student housing research specialist StudentMarketing.

Catalyst Capital, a European real estate investment and fund management firm, has completed the acquisition of €194 million of high-quality retail assets in Sweden, Germany, Poland and an office development in Paris for its new Catalyst Core Plus European Property Fund (CCPEPF), a €1 billion “evergreen” real estate fund. Catalyst has acquired Galleria Center Syd in Malmo from Baring Real Estate, the Rathaus Center Dietzenbach near Frankfurt from Hahn Group, the Zielony Targówek retail park in Warsaw from Credit Suisse Asset Management and agreed to forward fund an office development by VINCI Immobilier in Saint-Denis, Paris.

Bluehouse completed the acquisition of Novodvorska Plaza shopping centre in Prague. CBRE represented the buyer in the off-market acquisition of the 25,000 sqm shopping centre.

The Polish commercial real estate market is in the best shape it has ever been, posting a record-high investment volume that exceeded €7 billion in 2018. Office and industrial sectors, in particular, are setting new highs with last year’s trading volumes at nearly €2.6 billion and nearly €1.9 billion, respectively.

The European Investment Bank (EIB) has signed a €60 million loan agreement with ArtN Sp. z o.o., a subsidiary of Capital Park S.A., for a flagship project to revitalise the former Norblin factory site in central Warsaw. This is the first EIB transaction in Poland with a real estate investor under a project financing scheme.