ARTICLES LABELLED WITH TAG Poland

Benson Elliot, a UK-based private equity real estate fund manager, acting on behalf of its pan-European fund, Benson Elliot Real Estate Partners V L.P. has acquired Marynarska Business Park (MBP), an office complex in Warsaw, from a fund managed by Heitman Real Estate. The price paid was c. €65 million.

406,000 sqm of retail space was handed over on the Polish market in 2019. The development pipeline currently stands at approximately 500,000 sqm, 85% of which is scheduled for opening by the end of 2020. Going forward, investors’ interest will increasingly shift towards smaller cities below 100,000 inhabitants. Cushman & Wakefield has summarized the Polish retail market.

CPI Property Group announced the acquisition of Equator I office building in Warsaw from Immofinanz. The investors previously acquired the Equator IV office building in Warsaw from Karimpol Polska.

Pasaż Chełmiński, modern retail park, in the main shopping area in Chełmno, has been sold by TUF Real Estate to LCP Properties. Avison Young’s investment team represented the buyer in the transaction.

Panattoni has delivered its first Class A warehouse in Żory, Silesia. Nearly half out of the initial 36,500 sqm has already been leased out to first tenants. This February, cargo-partner spedycja sp. z o.o. is moving into the facility, to be followed by Piast Cargo and a tenant from the food industry in March. At full build-out, Panattoni Park Żory will total 84,000 sqm. The project is under construction in a strategic location in Southern Poland, close to the Czech border.

In 2019, 7R commissioned 14 new warehouse facilities in 11 Polish markets. At the same time, the developer increased the level of leased space by almost 45%, successfully sold projects, established international strategic partnerships for the construction of further warehouses, and strengthened the team with the best industry professionals.

Skanska Property Poland has commissioned Apleona HSG Facility Management Poland with hard services for buildings 4 and 5 of the High5ive office property in Krakow. The agreed country-specific open-ended contract includes both assets supervision and complex maintenance service of all technical building systems with 24-hour emergency support.

Cain International, a privately held real estate investment firm operating in Europe and the United States, and its local development partner, White Star Real Estate, have started construction on PZO, an 18,000 sqm mixed-use scheme in Warsaw’s Praga district on the site of the former Polskie Zakłady Optyki factory.

Colliers International Poland has published the results of the Office Agency in the Landlord Representation division. In 2019, Colliers advisors rented a total of over 118,000 sqm of office space. This result is nearly 40% higher than in 2018 (88,106 sqm) and 260% higher compared to 2017 (32,824 sqm).

HB Reavis has secured a €162 million loan from a consortium of four banks – Santander Bank Polska, Bank Pekao S.A., PKO Bank Polski S.A. and BNP Paribas Bank Polska S.A. – for the construction of its 78,000 sqm Forrest office campus in Warsaw.