ARTICLES LABELLED WITH TAG Poland

Panattoni Europe has built a facility for Amazon in Gliwice of record-breaking size and functionality. The project, featuring in excess of 210,000 sqm and four storeys, is the company’s largest building in the country and has been fitted out with advanced Amazon Robotics technology.

Chris Zeuner has been appointed a Non-Executive Director at 7R - one of Poland’s most active and fastest-growing logistics and warehouse developers. His expertise and strong pan-European experience will support 7R’s ambitious development targets and the company’s growth strategy for the upcoming years.

New Work has been expanding rapidly in the Polish market during 2019. In total, the company has added six locations to its Polish portfolio over the past 10 months.  

M7 Real Estate has purchased the Nowa Kamienica office building in Kraków for €11 million. With this transaction, M7 Real Estate has fully invested its first dedicated Polish investment fund, M7 POLAF.

Czech investor CPI Property Group has completed the acquisition of the Eurocentrum office complex in Warsaw from Capital Park. JLL advised the buyer on the transaction.

In the first three quarters of 2019, the regional city investment volume reached €1.06 billion, matching the level recorded in the whole of last year. Cushman & Wakefield forecast this year’s total volume to hit €1.3–1.5bn, 25-40% above the equivalent level in 2018. Prime office yields stand at 5.50%–6.00% in Krakow and Wrocław, and at 6.75–7.25% in Gdansk, Poznań, Katowice and Łódź.

ProperGate has signed a cooperation agreement with CFE. The intelligent logistics management system, developed by ProperGate, will be pilot tested at the construction site of one of the biggest retail centres in the Mazury district.

Golub GetHouse has finalised the sale of a 170-metre-high residential tower with apartments for rent planned on the plot at ul. Grzybowska 59 in Warsaw to LRC Group. The residential high-rise to be delivered by Golub GetHouse will feature 900 units for rent.

Via a subsidiary, TAG Immobilien AG signed an investment agreement to acquire 100% of the shares in Vantage Development S.A. with a simultaneous carve-out of its commercial real estate business which will be repurchased by the selling shareholders. The total transaction consideration amounts to c. €131 million, of which c. €46 million relate to the commercial real estate business unit. As a result, the total net consideration for TAG amounts to c. €85 million for the residential business and platform of Vantage Development.

Cushman & Wakefield has been appointed as sole letting agent for Riverside Park and Grójecka 5 in Warsaw, and Arkońska Business Park in Gdansk. Cromwell Property Group acts as the property manager for the buildings.