ARTICLES LABELLED WITH TAG Krakow

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.

GTC S.A. signed a €46.5 million new loan agreement with BZ WBK for refinancing of Korona Office Complex. The complex offers about 36,800 sqm GLA in Kraków.

Dyskret Polska, represented by Cushman & Wakefield, has finalised the disposal of the Vinci Office Center in Kraków. The buyer and the transaction price have not been disclosed. 

Benson Elliot, the UK-based private equity real estate fund manager, on behalf of its pan- European fund, Benson Elliot Real Estate Partners IV L.P. (BEREP IV) has acquired four grade A office buildings in key Polish regional markets. The properties, secured in separate off-market transactions with four different vendors, follow the fund’s acquisition of the 350-room Warsaw Sheraton Hotel in October 2015.

JLL has been selected by Portuguese company Porto Office as the exclusive commercialisation agent responsible for leasing space at Porto Office A, the second phase of the office and services investment developed in Kraków.

Construction works on the modern office complex Podium Park in Kraków’s Czyżyny are under way. In connection with completion of the pre-lock-up stage in Building A, Podium Investment started to perform finishing works. Currently, according to the schedule, lock-up stage works in Building A are under way. Completion of the first building is planned for the end of June 2018.