Globalworth provided an update on a number of initiatives completed prior to year-end: the acquisition of two land plots in Bucharest, an increase in its shareholding in Griffin Premium RE and the completion of the EPP deal.

Spaces, a global concept from the Netherlands and offering solutions from the area of flexible workplaces and co-working, has leased 4,200 sqm of office space in Centrum Marszałkowska. As a consequence, Warsaw will become the brand’s first location in Poland. Experts from JLL advised Spaces on the process of negotiating lease terms. Baker & McKenzie supported the company in all legal aspects. The developer of Centrum Marszałkowska - BBI Development - was represented by CBRE and Markowska - Materla law firm.

Berlin Hyp and Erste Group Bank have jointly provided Immofinanz a five year secured loan in the amount of €205 million. The syndicate is providing Immofinanz a “one stop” portfolio-refinancing for their office portfolio in Warsaw and is thus replacing seven existing, individual real estate loans. Agent for this transaction is Berlin Hyp.

Skanska has sold phase I of Nowy Rynek, an office building within a mixed-use project in Poznań, Poland, for €73 million. The buyer is confidential. The transaction will be recorded by Skanska Commercial Development Europe in the fourth quarter 2017. The transfer of the property is scheduled for the second quarter 2019.

Ghelamco has finalised the sale of Przystanek mBank, a build-to-suit office complex in the New Center of Łódź. The transaction led by companies from the Ghelamco Group included a long-term investor LCN Capital Partners and mBank. The value of the transaction is approximately €60 million.

The total warehouse and industrial stock in Poland has surpassed the 13 million sqm mark. In the period from January to September 2017, new supply totalled more than 1.6 million sqm and occupier activity remained healthy. A new report by Cresa describes the current situation as a golden age for the Polish industrial market.

In 2017, Green Caffe Nero, TK Maxx, Dla Spania, KappAhl, Newbie, Home&Deco, Good Label, T-Mobile and Forever 21 opened twelve new stores across Poland totalling more than 9,800 sqm of floorspace. Each project was delivered by the Retail Agency team of Cushman & Wakefield.

Panattoni Europe is building Panattoni Park Zielona Góra – a modern multi-tenant distribution centre, planned for 75,000 sqm. At present, nearly 50,000 sqm, in three buildings, are under development. The space has been leased by both manufacturing companies and logistics businesses, which will be able to move into the park in early 2018.

Globalworth announced that is has acquired a 67.90% of the issued share capital of Griffin Premium Real Estate, a Dutch entity listed on the Warsaw Stock Exchange.

Union Investment has expanded its Polish shopping centre portfolio by making its first investment of this kind in Wrocław. The latest addition to open-ended real estate fund Unilmmo: Europa is Magnolia Park, which comprises some 100,000 sqm of retail space. Sold to Union Investment by Blackstone for around €380 million, the shopping centre is almost fully let, with leases having an average of 4.2 years to run. The shopping centre will continue to be managed by Multi after the sale. Cushman & Wakefield advised Union Investment on the transaction.