ARTICLES LABELLED WITH TAG Poland

Although the Polish retail market is still struggling with the effects of the COVID-19 pandemic, forecasts for the sector are more optimistic than for the rest of Europe. According to Oxford Economics, retail sales in Poland are expected to grow by 4.9% per annum until 2023, which would put Poland in a leading position in Europe. 2021 is expected to see approximately 209,000 sqm of GLA solely in retail parks come onto the market, meaning that 2021 would be a record breaking year for retail parks in terms of space delivered to the market. JLL and Trei Real Estate Poland, the authors of the 2nd edition of the "Retail parks and convenience centers in Poland" report, summarize the market regarding these projects at the end of H1 2021, and outline the development prospects for this sector in Poland.

EQT Exeter has acquired a portfolio of five Polish warehouse properties from Tristan Capital Partners’ EPISO 4 fund and White Star Real Estate for an undisclosed sum.

pbb Deutsche Pfandbriefbank has provided an investment loan facility and a VAT facility totalling €90 million to GreenOak Europe Core Plus Logistics, a fund managed by BentallGreenOak (BGO). The fund will utilise the proceeds for the acquisition financing of a logistics portfolio in Poland. pbb acted as arranger and sole lender under the facilities.

Hungary-based developer Cordia completed the 54.5-metre-high Horyzont Praga in Warsaw, which is the highest-ever residential building of the company. Hungary's leading residential property developer plans to develop 3,500 homes in Poland, in addition to the nearly 900 homes currently under construction.

Cushman & Wakefield strengthens its management structure in the CEE region. Part of this step is the extension of the roles of some of its professionals, who are newly responsible for the firm’s activities in the whole region. Three experts from Cushman & Wakefield’s Czech office now have such regional roles. Radka Novak has been appointed Head of Office Agency for CEE, Marie Baláčová has been appointed Head of Data & Analytics for CEE and Ondřej Fukal has been appointed Head of Asset Services for CEE.

Pruim, a company managed by Griffin Real Estate, has sold six retail properties with a total GLA of over 107,600 sqm to a confidential buyer. The value of the transaction is €87 million.

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