ARTICLES LABELLED WITH TAG office

Berlin Hyp and Erste Group Bank have jointly provided Immofinanz a five year secured loan in the amount of €205 million. The syndicate is providing Immofinanz a “one stop” portfolio-refinancing for their office portfolio in Warsaw and is thus replacing seven existing, individual real estate loans. Agent for this transaction is Berlin Hyp.

Skanska has sold phase I of Nowy Rynek, an office building within a mixed-use project in Poznań, Poland, for €73 million. The buyer is confidential. The transaction will be recorded by Skanska Commercial Development Europe in the fourth quarter 2017. The transfer of the property is scheduled for the second quarter 2019.

Ghelamco has finalised the sale of Przystanek mBank, a build-to-suit office complex in the New Center of Łódź. The transaction led by companies from the Ghelamco Group included a long-term investor LCN Capital Partners and mBank. The value of the transaction is approximately €60 million.

Immofinanz refinanced approximately €1.6 billion of financial liabilities during the 2017 financial year. This volume represents roughly 60% of the group’s financial liabilities as of 30 September 2017 and covers extensions as well as new borrowings. The transactions will reduce future interest expense by roughly €18.3 million per year.

AFI Europe Romania has signed a financing agreement for €22 million with Bank Leumi Romania for the development of phase 1 of AFI Tech Park, the newest business park the company is currently developing in Bucharest.

Globalworth announced that is has acquired a 67.90% of the issued share capital of Griffin Premium Real Estate, a Dutch entity listed on the Warsaw Stock Exchange.

The Hungarian government plans to maximise the height of any building in Budapest at 65 metres, the minister leading the Prime Minister’s Office announced. János Lázár told journalists that there is a bill before Parliament that would ban the construction of buildings higher than 65 metres.

Tricity is the third largest regional market in Poland, after Krakow and Wrocław, in terms of office stock, now at 693,000 sqm. Absorption set a new high of 62,600 sqm in the first three quarters of 2017, compared to the five-year average of less than 39,000 sqm, says Cresa in its latest report.

As a response to continued strong demand from tenants in Budapest and Bucharest, Skanska plans to launch several new projects in both capital cities. Marcin Łapiński, Managing Director for Hungary and Romania talked to Property Forum about the differences between the two markets.

Forte Partners have inaugurated the first phase of The Bridge office project located in the Grozavesti-Basarab area in Bucharest. The first building offers 36,871 sqm of leasable space. Its tenants include IBM and BCR. The first phase of the project was financed by UniCredit Bank. Bog’Art was the main construction contractor.