ARTICLES LABELLED WITH TAG Poland

Poznań’s Galeria Malta, under a JV co-owned by Heitman and Neinver, has been sold to an unnamed new investor. At the same time, Balmain Asset Management and BSC Real Estate Advisors have been designated respectively as the new asset manager and property manager of the shopping centre, replacing Neinver.

Total retail stock in Poland now stands at nearly 14.0 million sqm with shopping centres accounting for 71% (9.9 million sqm), followed by retail parks and warehouses with 27% (3.8 million sqm) and outlet centres coming in with 2% (0.25 million sqm). JLL summarised H1 2018 on the retail market in Poland.

Skanska has invested €52 million in the first phase of an office development in Wrocław, Poland. The first phase with a total leasable area of around 26,000 square meters will consist of two buildings, 15 and six stories high, with a shared two-level underground parking lot.

A good location is the key to success in retail. It may, however, take some time before a suitable store is found for a brand entering the Polish market. Most brands want to open their first stores in Warsaw. That’s why retailers would rather wait than start off somewhere else, says Szymon Łukasik, Head of Retail Department at Cresa Poland.

According to Cushman & Wakefield, total investment volumes in Poland in H1 2018 surpassed €3 billion reaching €3,246 million, up 113% on H1 2017.

Globalworth Poland announced the acquisition of Spektrum Tower in Warsaw from Europa Capital for €101 million. With this acquisition, the combined value of the company's portfolio is now broadly split between Romania and Poland.

Multi Corporation has announced the appointment of Luca Maganuco as the new Managing Director for Multi Central and Eastern Europe, effective 1 July 2018. He will be responsible for Multi’s activities in Poland, Slovakia and Ukraine.

The landlord representation team at BNP Paribas Real Estate Poland will be responsible for leasing vacant space as exclusive agent in the Europlex and Irydion office buildings and the A building in the Wiśniowy Business Park complex in Warsaw.

Helaba, acting as facility and security agent, and pbb Deutsche Pfandbriefbank have jointly underwritten an investment facility to finance four office properties in Poland. Together, the two banks are providing Globalworth Poland Real Estate (GPRE) with a loan in an amount of €100 million with a duration of seven years. The transaction closed in June 2018. Helaba and pbb are acting as Joint Lead Arrangers providing equal portions of the funding.

Shopping centres remain the dominant retail format on the Polish market. Poland now has more than 420 shopping centres that provide 10.5 million sqm, accounting for 73% of the country’s total retail stock. Retail experts at Cresa Poland analysed the Polish retail market