ARTICLES LABELLED WITH TAG Poland

Approximately €754 million was invested in Polish commercial property in the first quarter of 2019, according to Cushman & Wakefield’s latest investment market report.

In order to finance its further growth, Globalworth successfully completed a capital increase of €500.5 million. The EBRD invested a further €25 million to support the company’s planned growth. The Bank became a shareholder in Globalworth in December 2017 and currently holds a 5.8 per cent stake in the company.

The first quarter of 2019 proved to be a very good one for the industrial sector in Poland - the gross take-up exceeded 800,000 sqm with more than 620,000 sqm being delivered to the market, and approx. two million sqm under construction. JLL summarized the situation on the Polish industrial market at the end of Q1 2019.

SGI SA has sold the Lastadia Office in Szczecin to a company managed by Greenstone Sp. z o.o. Lastadia was delivered to the market in 2013 and offers ca. 12,500 sqm of GLA. It is located at the banks of Oder River along Wały Chrobrego and is fully let to international and Polish tenants.

In the first quarter of 2019, leasing activity hit 140,100 sqm on the Warsaw office market, of which more than 101,000 was transacted under new deals and expansions. Cushman & Wakefield summarised the Warsaw office market in Q1 2019.

JLL advised Atrium European Real Estate Limited in the disposal process of two Polish shopping centres, namely Atrium Felicity and Atrium Koszalin to the ECE European Prime Shopping Centre Fund II, managed by the independent fund managing company ECE Real Estate Partners. The parties signed on 9th May 2019 an agreement concerning the sale of both assets for €298 million, representing around 3% premium to book value as at 31 March 2019. The transaction is subject to the fulfilment of certain conditions precedent and is expected to be completed in the third quarter of 2019.

Kajima Student Housing Limited (KSH), a wholly owned subsidiary of Kajima Europe and part of Kajima Corporation, a Japanese real estate investment, development and construction company, has, in partnership with Griffin Real Estate Partners (GRE) acquired Student Depot, Poland’s largest provider of student accommodation, from Oaktree Capital Management.

Poland's office market in Q1 2019 saw office supply growing, vacancy rates dropping comparing to the last year, and demand predominantly being driven by IT, services and manufacturing. Advisory firm JLL summarised the situation on the Polish office market at the end of Q1 2019.

In the first quarter of this year, residential developers on the six major markets in Poland sold 16,500 new flats, repeating the result attained in Q4 2018. During this same period, a similar number, 16,800 units, were put up for sale. Poznań and Łódź are experiencing a late boom, as sales on these markets reached record highs in Q1 2019, according to JLL’s latest report.

Ghelamco Poland has completed the sale of the Wronia 31 office scheme located in the centre of Wola’s business district. The property was acquired by LaSalle Investment Management (LaSalle), one of the world’s leading real estate investment managers with $65 billion of assets under management across Europe, North America and Asia Pacific.