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.

The Warsaw Mennica Legacy Tower complex’s Western Building has been opened. The sole tenant of the building is WeWork. The new location of the company will be the largest “flexible space” for lease in the whole Central and Eastern Europe. Arrangement works in the 140-metre-high Tower of the complex will constitute the final stage of the execution of Mennica Legacy Tower.

Prologis has signed one of the largest leasing transactions in Europe this year. Long-term partner EURO-net will lease 160,000 square meters at Prologis Park Janki.

New research from Cushman & Wakefield reveals the last link of the e-commerce supply chain can account for 50% or more of total supply chain spend.

Aroundtown has acquired an 11.8 percent stake in Globalworth. Aroundtown is a real estate company with a focus on properties with added value potential in central locations in top tier cities, primarily in Germany and the Netherlands.

Accolade will invest almost €30 million in two warehouse buildings in Częstochowa with a combined area of ​​30,400 sqm. The two buildings at Panattoni Park Częstochowa are currently under construction with completion scheduled for February 2020.

In the third quarter of 2019, Łódź’s total office stock reached almost 518,000 sqm, surpassing the long-awaited half a million sqm mark, says Cresa Poland in its latest report.

The aggregate net profit of the 30 largest commercial property developers in Poland hit an all-time high of €230 million (PLN 985 million)  in 2018, which translated into a net profit margin of 25%. The latest data from the investment transaction market and property developers’ interim financial statements indicate that 2019 can be as good a year as 2018 was for the industry in terms of profitability.