KGAL Investment Management GmbH & Co. KG has acquired the Fuzja Office I building in Łódź with around 22,000 square meters of rental space on behalf of a pan-European special AIF. The property is certified with the first-class sustainability rating "BREEAM Excellent" and is scheduled for completion in the second quarter of 2022. The seller of Fuzja Office I is Echo Investment S.A., one of the largest listed Polish property developers.
Echo Investment signed a preliminary sale agreement for three office buildings in Fuzja Łódź, that will be acquired for over €56.4 million by KGAL Group, an independent investment and asset manager. The buildings encompass 22,000 sqm of BREEAM-certified office space. They are a part of mixed-use Fuzja, a project revitalizing a post-industrial area of Łódź.
From August 2021, KGAL GmbH & Co. KG, a leading independent European investment and asset manager based in Germany, has appointed Savills as property manager for Prague’s DRN building. Savills also continues to provide asset management services for the building, which it has been providing since July 2020.
Villa Offices, part of the Warsaw Brewery complex, was acquired by KGAL Group, a leading independent investment and asset manager. The building was sold for approximately €86.7 million.
As part of a new climate strategy, one of the leading German asset managers is also targeting net-zero emission portfolio by 2050 – German investment manager KGAL has committed to becoming a climate-neutral company by the beginning of 2021 by offsetting all greenhouse gas emissions connected to its operations. Emissions calculated per employee will be reduced by 5% annually during the next 10 years. It has also pledged to have a net-zero emission investment portfolio by 2050. The targets are set out in the company’s newly announced climate strategy.
From July 2020, KGAL Investment Management Group GmbH, based in Germany, has appointed Savills as local asset manager for DRN, an office complex on Národní St., Prague 1.
Colliers International has taken over the management of Prosta Office Centre in Warsaw. The current owner of Prosta Office Centre is KGAL Investment Management which acquired it from Cromwell Property Group at the beginning of this year.
KGAL, an independent investment and asset manager, has bought a second office building in Warsaw. The acquisition of the Prosta Office Centre (POC) from Cromwell Property Group follows the 2018 purchase of the Spark office complex. Both assets were acquired for a Europe-wide special real estate AIF.
KGAL has acquired the DRN office building in Prague for a pan-European special real estate Alternative Investment Fund (AIF). The purchase is in line with KGAL’s strategy of Europe-wide diversification across prime locations, and is its first investment in the Czech Republic. The fund now holds properties in Germany, Austria, Ireland, Hungary, the Netherlands, Poland and the Czech Republic.
The first building of 8,000 sqm of the fully sustainable logistic Garbe Green Park Piestany is already fully leased and the development process of the second building is starting soon.
Crown Square, an office building located near Rondo Daszyńskiego metro station in Warsaw, will welcome three new tenants: Foodcom (1,000 sqm), Orifarm (400 sqm) and Avenga (300 sqm). The landlord was advised on the transactions by real estate advisory firm Savills.
BIMs Plus Poznań, distributor of heating, ventilation and air-conditioning technology products as well as plumbing system and technology products has leased more than 4,700 sqm of space at the MLP Poznań West logistics park.
New appointments
Dorota Mielke has joined Office Agency team of BNP Paribas Real Estate Poland and taken the position of Associate Director. Her main task in the new role will be taking care of business development and advising on office strategies and space rental.
Dariusz Domański has been promoted to be a Managing Partner at White Star Real Estate in Poland. He will be responsible for Residential Development business of White Star Real Estate and White Star Residential Management operating businesses. Darek will also continue to manage White Star’s flagship project- Elektrownia Powiśle.
Mariusz Cieśliński has joined the Polish team of MNK Partners to take up the position of Investment Manager. In his new role, he will be responsible for supporting the investment processes of funds across Europe.
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