ARTICLES LABELLED WITH TAG Poland

CPI Property Group formed a joint venture with Aroundtown SA and announced a cash offer for the entire issued share capital of Globalworth that the JV did not already hold. The two companies currently own more than 50% of Globalworth’s issued share capital.

The retail park format was gaining ground before the pandemic and continues to grow despite it. Over the past 20 years, the share of retail parks in the entire pool of shopping facilities in the country has increased from 6% to 15% and now they occupy approximately 1.97 million sqm, according to CBRE data. Retail parks remain popular among investors, confirming their strong position, even in times of a pandemic. Their popularity is underpinned by their locality, concentration of stores providing basic needs in one place and a smaller number of customer contact points than in large centres. According to CBRE experts, the current trends indicate that by 2030 retail parks may constitute 28% of all shopping space in Poland.

In Świdnik, near Lublin, a cross-docking terminal of around 5,165 sqm was constructed and has now completed its BREEAM certification with a rating of ‘Very Good’. The centre is partially powered with electricity from renewable energy sources and with the application of sustainable solutions CO2 emissions have been reduced by around 30 pct and water usage has been cut by 67 pct. Almost PLN 50 mln has been invested in the project.

Publicly traded Hungarian real estate brokerage firm Duna House has released its metrics for the first quarter. Duna House started the year with record quarterly volumes in all of its core business lines in the middle of the third wave of the COVID-19 pandemic. After a series of record highs in 2020, the first quarter, which is usually weak seasonally, brought all-time records in both real estate and credit brokerage in 2021: franchise real estate brokerage grew by 36%, own office real estate brokerage by 37% and credit brokerage by 6% year-on-year.

Immofinanz has sold four office buildings in Warsaw to the Indotek Group, a Hungarian real estate firm. The buildings have a total rental space of approximately 45,300 sqm. The sales price amounts to €72.5 million.

UK investor Aberdeen Standard European Logistics Income PLC (ASLI) has signed an agreement for the acquisition of the Panattoni Lodz City VIII logistics park for €28 million.

Czech investment fund Investika has appointed real estate advisory firm Savills as property manager for its new acquisition Szyperska Office Center in Poznań. Savills will also once again act as an office leasing agent for the building after a short break.

Dino Polska opened 59 new stores in the first quarter of this year, compared to 16 y/y. At the end of March 2021, the chain consists of 1,532 stores, compared to 1,234 a year earlier.

pbb Deutsche Pfandbriefbank has provided an investment loan facility totalling €115 million to a fund managed by the Real Estate Group of Ares Management Corporation (Ares), which will utilise the proceeds for the acquisition financing of a logistics portfolio in Poland. pbb acted as arranger and sole lender under the facility.

In 2020, we saw a significant shift in the perception of warehouses and the role they play in the economy. Investors now see them as highly valuable assets. Tomasz Lubowiecki, President of the Board at Polish logistics developer 7R talked to Property Forum about prosperity on the warehouse market, last mile logistics and difficulties around nearshoring.