ARTICLES LABELLED WITH TAG Poland

Echo Polska Properties has reached an agreement to acquire a portfolio of retail properties for €692.1 million. The portfolio comprises twelve retail properties of which eight comprise shopping centres and four retail parks with over 620 stores situated in strong regional cities across Poland. The portfolio has an aggregate gross lettable area around 450,000 sqm. The seller is the Chariot Top Group, owned by Pimco (37.5%), Oaktree Capital Management (37.5%) and Redefine Properties (25%).

Prologis announced the completion of an 18,100 square metre build-to-suit (BTS) facility for Arvato Polska at Prologis Park Stryków.

A subsidiary of NEPI Rockcastle has entered into an agreement to acquire two shopping centres in Poland for an aggregate sum of €249.4 million. Shopping centres Serenada (41,170 sqm) and Krokus 27,728 sqm) are to be extended for a further €212 million thus creating a single integrated shopping centre with a GLA of over 100,000 sqm.

Poland is an attractive market to global investors. Its key strengths include the large population of nearly 40 million, a strategic location in Europe, strong economic growth and infrastructure developments, encouraging an increasing number of retailers to enter the Polish market. Contrary to appearances, deciding whether to expand is not an easy task even for the strongest corporations. Szymon Łukasik, Head of the Retail Department at Cresa Poland wrote about launching new brands on the Polish market.

Triuva Kapitalverwaltungsgesellschaft (Triuva) has acquired the Green Day office building in Wroclaw, Poland from a Luxembourg fund advised jointly by GLL Real Estate Partners GmbH (GLL) and Investec Bank PLC. The purchase price is believed to be in the region of €48.5 million.

Prosperity on the office market in Lesser Poland’s capital continues, as is evident from the number of new schemes delivered to the market and those under construction and in the pipeline as well as the volume of transactions completed. Experts at BNP Paribas Real Estate Poland highlight that the market dynamics are not to any significant degree affecting rents or the vacancy rate which remain at a stable level.

HBK, asset manager of Direkt Invest Polen fund, finalised the sales transaction of a retail portfolio, comprising seven existing properties as well as development lands for new projects. Master Management Group became new owner of the portfolio. The total value of the transaction is approximately €60 million.

Echo Investment has concluded a contract with Bank Zachodni WBK S.A. as an agent as well as Bank BGŻ BNP Paribas S.A. concerning a loan of over €67.5 million and a VAT loan of PLN 12 mln. The funds will be used for the construction of Galeria Libero in Katowice.

Cushman & Wakefield has been responsible for the audit of the Focus office building and obtaining a BREEAM IN-USE International certificate for the scheme. The office complex, located at 26 Ludowej Avenue in Warsaw, received an “Excellent” rating in Building Management and a “Very Good” rating in Asset Performance.

Central Poland, Prague and Bucharest are among the most desirable logistics locations in Europe, according to a new research by Prologis that examines why logistics customers in Europe choose certain locations over others.