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.
Skanska has sold the first phase of the Spark office complex in Warsaw to a real estate fund of KGAL Investment Management GmbH & Co. KG, a leading German independent investment and asset manager. This is not only the buyer's first acquisition with Skanska, it is also the fund's first investment in the Polish office market.
Europa Capital has concluded the sale of a portfolio comprising two city centre office buildings in Budapest with a total floor area of approximately 26,000 sqm. KGAL, a European asset and investment manager, acquired the Kálvin Square and CityZen assets on behalf of institutional investors. The combined price for the portfolio is approximately €60 million. The property management will be carried out by KGAL´s local partner ConvergenCE.
Online documentation and efficiency solutions company Craft Docs secured a 1,000 sqm of office space in the renewed Krausz Palace office complex in downtown Budapest. The company will move in August 2023. The startup has become the first tenant of the building, Jake Lodge, principal of Avision Young Hungary responsible for the leasing and operative management of the building said.
A new tenant has moved into the Eximius Park office complex near Kraków. GoE Wellness is a British healthy lifestyle start-up that is expanding its operations in Europe. The company's new office has an area of approximately 900 sqm and is located in building 200.
Galeria Jurajska is strengthening its offer. Three new tenants - fashion brands Quiosque and Lovisa and patisserie Lody Czewskie - will soon appear in the Częstochowa shopping centre.
New appointments
CPI Property Group is expanding its retail leasing department. Dariusz Kafara has been appointed as the new Leasing Manager. At the Warsaw branch of the company, Dariusz is responsible for maintaining the maximum level of commercialisation in two retail park chains from the group's portfolio - CityMarket and STOP SHOP.
Brian Nyeng Olesen, formerly head of commercial at the Salling Group, has been appointed as the new managing director of Netto Polska. The position was previously held by Hugo Mesquita.
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
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