ARTICLES LABELLED WITH TAG Poland

Accolade and Aareal Bank have closed a refinancing deal, with a total value of €54 million (CZK 1.4 billion) for four Polish parks: in Bydgoszcz, Białystok, Mińsk Mazowiecki and Legnica. This is a sequel to their previous transaction, concluded last year, whose value amounted to €153 million (CZK 4 billion). Apart from increasing portfolio profitability, the refinancing is also to support the execution of Accolade’s strategy that aims to develop modern business in Europe.

Panattoni has become the first developer in the sector to introduce BREEAM certification at the ‘Excellent’ level as the standard for all its new facilities. To date, Panattoni has built 5,7 million sqm of space that has qualified for green certificates and tops the rankings for sustainable industrial construction. This includes the first BREEAM ‘Excellent’ certificate in the Polish industrial sector – for Panattoni Park Sosnowiec I – to add to having developed the most sustainable industrial building in Europe: Panattoni Park Cheb in the Czech Republic, which has an ‘Outstanding’ rating.

EPP delivered a solid performance for the first six months of 2021 in line with expectations. Both EPP’s distributable earnings increased by 54% to €33.2 million, compared to H1 2020. EPP’s net asset value per share increased by 3% to €1.12. A swift operational recovery following lockdowns and the progress made in Poland’s COVID-19 vaccination programme, low infection rates, a resilient economy, and high employment levels all support EPP’s robust performance and bode well for the future.

The BSS sector is driving growth in Polish cities and dominates the regional office landscape. Companies from this sector account for more than half of leased space outside of Warsaw. The first half of 2021 saw companies from the modern business services sector (BSS) lease nearly 210,000 sqm of office space in Poland. This is more than 40% of the total demand registered in the country’s major markets. Excluding Warsaw, BSS companies accounted for as much as 60% of office demand

Katarzyna Tencza, Associate Director Investment & Hospitality at Walter Herz comments on the current situation on the COVID-battered Polish hotel market.

Following the acquisition of Polish residential developer Budimex Nieruchomości - now renamed Spravia - construction of its first project has begun with its new owner, Czech developer and investor Crestyl. The two phases of the Mińska 69 residential complex in Warsaw will offer nearly four hundred apartments for long-term rent. Based on a previously concluded strategic partnership, they will be bought by Heimstaden Bostad, one of Europe’s leading residential real estate rental companies.

Martes Sport, a chain of large-format sports stores which was founded in Bielsko-Biała, is expanding its warehouse facilities with a lease agreement for space in Czechowice-Dziedzice, Poland. Due to development of its operations, especially in e-commerce, the company will occupy more than 21,000 sqm of warehouse space, as well as an office of approximately 1,000 sqm in 7R BTS Beskid III. The company’s new location will be operational in the second half of 2022.

Develia Group has signed a preliminary agreement with an investment fund managed by Adventum Group to sell all its shares in Wrocław Sky Tower. The sale price set at €84.4 million, will be reduced by the value of unpaid incentives for tenants. Finalization of the transaction is expected at the end of 2021.

MLP Group, a developer operating on the warehouse property market in Poland, Germany, Austria and Romania, has added a further 10 ha to the land bank of its MLP Poznań West project. The target project area has thus increased to about 150,000 sqm, making it one of the region’s largest logistic sites.

Kajima Europe together with Griffin Real Estate has announced the establishment of a joint venture to finance and develop renewable energy projects located in Poland. As part of the deal, the JV has acquired a 72% stake in PAD-RES, a leading developer in the clean energy asset space in Poland.