Property developer Plaza Centers is seeking €262.2 million in damages from the Romanian state, alleging that it recorded massive losses from the Casa Radio project in Bucharest. The company filed a complaint with the International Centre for Settlement of Investment Disputes (ICSID) in Washington.
AFI Europe Romania has signed a non-binding letter of intent with Plaza Centers for the acquisition of the majority stake (75%) of the Casa Radio, located in the centre of Bucharest. The value of the offer amounts to €60 million.
Plaza Centers has concluded an agreement with NEPI Rockcastle, on the termination of land use rights over a circa 21,788 sqm land plot adjoining Arena Plaza in Budapest, Hungary, registered to a subsidiary of the company, Kerepesi 5 Irodaépület Kft. NEPI Rockcastle has recently acquired the Arena Plaza shopping centre from a third party.
A Plaza Centers subsidiary has signed a non-binding letter of intent with an unnamed investment fund regarding the sale of the Torun Plaza shopping and entertainment centre in Poland. The LOI binds the purchaser to a strict timeline for undertaking a comprehensive due diligence process which would result in the transaction being completed by the middle of September 2017.
Plaza Centers N.V. announced that Belgrade Plaza opened to the public on 20 April. The completed centre is 97% let and expected to be fully leased in the coming months. Belgrade Plaza is the 34th shopping centre built by Plaza and its second scheme in Serbia.
One of the subsidiaries of Plaza Centers has completed the sale of Suwałki Plaza shopping and entertainment centre in Poland to an investment fund for €42.3 million, which is in line with the last reported book value, the company reports.
Heilind has leased approximately 4,000 sqm of warehouse and office space in the Hillwood Mysłowice park. Heilind distributes electrical and electronic installation components. The transaction was brokered by Cushman & Wakefield.
IT company Scalo is opening an office in the CitySpace space in the MidPoint 71 office building in Wrocław. The software specialists will occupy around 3.5 thousand sqm.
Heilind, a global distributor of connectors, relays and terminal blocks, has leased around 4,000 sq m of warehouse and office space in Hillwood Mysłowice. The lease transaction was brokered by global real estate services firm Cushman & Wakefield.
Garbe Industrial Real Estate CEE expands its teams in the region with the appointments of Veronika Zacha and Jan Hradecky, both are coming from Panattoni. Veronika Zacha is joining as Senior Business Development Manager for Czechia and Jan Hradecky will hold a Project Manager position.
Colin King has been appointed Strategic Advisor of Romanian PropTech Bright Spaces. King has worked for over 30 years with large public companies and private mid-cap growth businesses, all with revenue well in excess of £1 billion.
Bryan Wilson has left Wilsons as Partner and is now Head Of CEE at DUAL Asset, a London-based comprehensive title insurance solution provider.
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