ARTICLES LABELLED WITH TAG investment

Polish developer Katharsis Development sold a portfolio of five retail parks, recognized under the brand “HopStop”, to CPI Property Group. Disposal advisory was conducted exclusively by Apleona GVA.

Large sums are expected to be invested in property again by institutional investors worldwide in 2018. Based on its “Investment Intentions Survey 2018”, INREV expects around €51.1 billion to be invested in property this year. The largest share of this €51 billion will go to Europe (around 41.2 percent), followed by the USA (31.7 percent). The Asia-Pacific region (17.4 percent) is in third place.

Globalworth has announced the execution of a second loan agreement with its subsidiary, Globalworth Poland (GPRE). The loan is being made available to GPRE for a refinancing of the existing financial indebtedness of GPRE and its subsidiaries and the potential acquisition of two new assets currently under due diligence while offering a more flexible capital structure for the expansionary phase that GPRE is in.

As a result of large portfolio transactions, the first quarter of 2018 on the Polish real estate investment market closed with a record investment volume of ca. €2.05 billion, according to Savills. Taking into account the number and volume of ongoing transactions, we may expect another very good year on the investment market.

Growthpoint Properties, a South African REIT, has agreed to subscribe for shares in Griffin Premium RE (GPRE). The company is to invest between €120 million and €150 million.

An opportunity fund advised by Tristan Capital Partners has acquired a site with full development rights in the centre of the university city of Wroclaw, Poland’s fourth largest city, to build circa 22,365 sqm of prime office space with ancillary retail to be known as ‘Infinity’.

PGGM Private Real Estate and Redevco, one of Europe’s leading retail real estate investment managers have launched Urban Retail Ventures, a €550 million European commercial real estate joint venture. Urban Retail Ventures will invest in the most favourable shopping and leisure destinations in Europe, focusing on cities that are winning the battle as quality retail locations.

Majority shareholder Lone Star (LSREF III GTC Investments B.V.) has informed developer Globe Trade Center (GTC) that it is considering the sale of entire 61.1 percent stake in the company. Lone Star appointed J.P.Morgan and UBS to assist them in this strategic review.

CPI Property Group announced the acquisition of Futurum Hradec Kralove Shopping Centre from Meyer Bergman, a privately held real estate investment management firm.

Union Investment has acquired the Park Inn by Radisson Krakow, which opened in 2009. The transfer of rights and obligations with regard to the property is scheduled to take place by the end of May 2018. The 152-room hotel is located south of the Vistula river, close to the city centre and in the immediate vicinity of the modern ICE Congress Centre, where around 200 events are held every year. The vendor is a joint venture between subsidiaries of UBM Development AG and Lindorcenia Ltd. The Radisson Hotel Group manages the hotel and provides the brand name. The hotel is let on a long-term lease. The purchase price is approximately €26 million. Union Investment is acquiring the property for an institutional real estate fund.