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.
Golub GetHouse has embarked on the construction of a student residence in Kraków. Unibep S.A. is the general contractor for the investment, which involves renovating the former Telpod factory and adapting it for the needs of modern, high-standard university accommodations. The industrial interiors will contain 290 functional housing units with various layouts – for one, two, three or four persons, offering a total of over 700 beds. Golub GetHouse is implementing the project in partnership with Chicago’s CA Ventures International, a company specializing in student housing construction in North and South America. The investment is financed from Golub GetHouse’s real estate fund.
In March 2018, Business Link and Skanska jointly launched a new business space located in the centre of Krakow. The High5ive office complex provides nearly 4,000 sqm of space, offering 140 offices, 24 co-working areas and 5 conference rooms. The project, following investments in Warsaw and Poznan, is another flexible office space opened jointly by Business Link and Skanska.
First Property Group unveiled its development plans at the Krakow Business Park (KBP) in Zabierzow, Krakow, which are focused on improving and repositioning the park to drive visitors and investment to it and the local area. This follows First Property Group’s acquisition of the park’s principal operating companies and the agreement of heads of terms for their refinancing with Pekao Bank SA.
Office take-up in 2017 hit a record high of 674,800 sqm in Poland’s regional office markets, up by more than 16% on 2016’s level. The strongest leasing activity was recorded in Kraków, Wrocław and Tricity. Cushman & Wakefield has published its MarketBeat report.
Aerium, a European real estate fund manager has disposed of three shopping centres in Poland to Newbridge, a Warsaw-based investment & development firm. The portfolio includes CH Czyzyny and CH Bielawy, both opened in 2002 in the cities of Krakow and Torun, respectively, and CH Guliwer, which has been operating in Lodz since 1997. The assets comprise over 72,000 sqm of gross lettable space and are anchored by Carrefour on a long-term lease.
ZFP Investments, the Czech-based subsidiary of Slovak IAD Investments, has concluded the acquisition of the Kotlarska 11 office building in Kraków on behalf of ZFP Real Estate Fund. This marks the investor’s entry into the Polish market.
JLL has represented Grupa Buma on the sales transaction of the DOT Office complex. The project was acquired by Golden Star Estate, an Amsterdam-based investment firm. The value of the transaction is confidential.
Signify is relocating its existing headquarters in Lódź. The new office, located in the city centre in the Hi Piotrkowska complex, has an area of over 2,800 sqm. The tenant was assisted in the signing of the contract and the process of arranging the new office by the consulting firm CBRE.
Magwise Medical Centre is a new tenant of the Wola Retro office building in Warsaw owned by Develia. The clinic, which specialises in mental health, has taken nearly 390 square metres of space on the ground floor of the building.
Logistics company Fiege will lease approximately 5,000 sqm in the ONE industrial park in Lovosice built by Cromwell Property Group. The transaction was arranged by Matěj Indra, head of the industrial department at 108 Agency Czech Republic.
Lucia Niculae has been appointed Business Development Director of Romanian construction company Pedro Construct. She has been an investor since 2018 and currently manages her own property portfolio.
108 Agency promoted Matej Indra to Head of Industrial Agency for the Czech Republic.
Michał Ozimek has joined the Valuation department at Corees Polska - Commercial Real Estate, taking up the position of Senior Valuation & Investment Analyst. Working in the agency's Warsaw branch, he will be responsible for supporting processes related to the development of property valuations.
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