ARTICLES LABELLED WITH TAG Poland

pbb Deutsche Pfandbriefbank has provided a €120 million investment loan facility to a logistics fund managed by GLP Capital Partners (GCP). The fund will utilise the proceeds for the refinancing of the development of a logistics portfolio in the Czech Republic, Poland and Hungary. pbb acted as arranger and sole lender under the facility.

According to Workthere.pl’s latest Flexmark report, larger companies (101+ people) and scale-ups (21-100 people) now account for 54% of global flexible office members, compared with 42% of members last year. The flexible office specialist notes that this increase is also reflected in take-up levels with these larger companies accounting for 34% of global take-up in flexible offices, compared to 22% in 2022 and just 13% in 2020.

Panattoni has completed and officially opened a BTS facility for Vita Group, an international polyurethane foam manufacturer, within Panattoni Park Żary. The developer plans to expand the park by an additional 7,000 square meters, with the new space being adapted to the specifics of the future tenant's operations.

Witold Zatoński, Founder of Syrena Real Estate, talked to Property Forum about the profitability of revitalizing older office buildings, the challenges related to such projects and the development of the PRS market in Poland.

According to a report prepared by Newmark Polska, development and occupier activity is focused on Poland’s six core warehouse markets: Warsaw and its suburbs, Upper Silesia, Central Poland, Lower Silesia, Greater Poland and the newcomer - Pomerania. Nearly 89% of the construction activity is concentrated in these regions, which accounted for almost 84% of the total leasing volume for the first three quarters of 2023. Meanwhile, a slight rental correction is being observed in some locations and industrial parks.

Many industry discussions have long chalked up the retail market as an industry in deep recession, with very bleak prospects. According to the participants of the retail panel at the Future of Real Estate 2023 conference in Warsaw in November, the retail industry in Poland is not only not dying, but is regaining vigour and investor interest. The event was co-organized by Property Forum and RICS.

Interest in leasing offices in Poland is growing. In the third quarter, both in Warsaw and on the regional markets, the demand for office space was the highest this year. In the regions, 2023 will close with a result similar to the record from 2019. 

Globalworth has been granted significant funding in the form of a €145 million bank loan for three flagship properties in Warsaw.

According to Cushman & Wakefield, leasing activity bounced back strongly on the Polish industrial market in Q3 2023. Meanwhile, development activity was largely driven by pre-lets and BTS projects, with rental rates remaining flat in most regions.

7R is launching its next project in Pomerania. Construction of 7R Park Gdańsk III in Barniewice has just started. Complex SAD has become the first tenant. The company was represented in the negotiations by Newmark Polska consultants.