MidPoint71, an office building in Wrocław, was acquired by Trigea Real Estate Fund, the fastest-growing Czech fund. The project of Echo Investment, which obtained the occupancy permit earlier this year, was sold for over €100 million. In another deal, three office buildings in Fuzja Łódź project were acquired by KGAL Group, an independent investment and asset manager, for over €56 million.
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.
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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