PPF continues to divest its Russian portfolio. It has completed the sale of its 60 percent majority stake in the giant South Gate logistics centre near Moscow. The deal is said to be the largest of its kind in a decade, Russian news server Metalinfo.ru reports, cited by Czech daily E15.cz.
PPF Real Estate has announced the launch of the first stage of the ARC office project in Bucharest by clearing the existing structures on the site. The planned ten-story class A office building is due for completion in 2025.
PPF Real Estate has teamed up with US developer Aventon Companies to enter the US residential market. Together they will build a residential complex with more than 300 residential units in Orlando, Florida by 2023. PPF intends to replicate this model of cooperation in other projects in the US, the company announced.
The residential development market in the Czech Republic will be expanded by a new grouping of PPF and Karlín Group. Together, they will build residential projects in Holešovice and Libeň in Prague with a total investment value of CZK 4 billion, the company PPF announced.
Czech investor PPF Real Estate has purchased a construction site land with a building permit in Bucharest, for the development of a new office building named ARC from property developer RC Europe. The project is due for completion in 2024 following an estimated investment of €60 million.
PPF Real Estate Holding has entered the Polish market with the acquisition of New City, a prime business park in Warsaw. Poland and the United States are the new commercial property markets where PPF Real Estate Holding has begun operating this year. The company owns properties also in the Czech Republic, Netherlands, Romania, the UK, Germany and Russia.
Property developer and investor PPF Real Estate has invested close to €1 million in redesigning the ground floor of Metropolis Center, the office building that it owns in central Bucharest.
Czech-founded PPF Real Estate Holding has entered the United States market through its U.S. division, finalizing an acquisition of Mansell Overlook, a large office campus in the broader Atlanta metropolitan area. The acquisition is a steppingstone for future investments by PPF in the U.S. property market.
Czech billionaire and businessman Petr Kellner died on Saturday in a helicopter accident in the Alaskan mountains, the New York Times reports. Petr Kellner, whose net worth has been estimated at $17.5 billion by Forbes, was aboard the Airbus AS350 B3 helicopter when it went down near Knik Glacier, Alaska. It is assumed that the group wanted to do heli-skiing in the mountains.
The Access Group, the UK provider of business management software, has leased 4,200 sqm of office space in Iulius Town Timișoara. More than 400 specialists work in the Global Operation Center based in United Business Center 0, and the company plans to double the number of tech specialists by the end of this year.
Centrumrowerowe.pl is opening a stationary shop in Warsaw. The shop will be located in the CH Okęcie Park and will be launched on 1 April. It is to have as much as 2,700 sqm of floor space.
Intive global tech company has let 62 workstations in the flexible Myhive office in Myhive Crown Tower (Warsaw), belonging to CPI Property Group. Savills and Workthere assisted with the transaction.
New appointments
CPI Property Group is expanding its retail leasing department. Dariusz Kafara has been appointed as the new Leasing Manager. At the Warsaw branch of the company, Dariusz is responsible for maintaining the maximum level of commercialisation in two retail park chains from the group's portfolio - CityMarket and STOP SHOP.
Brian Nyeng Olesen, formerly head of commercial at the Salling Group, has been appointed as the new managing director of Netto Polska. The position was previously held by Hugo Mesquita.
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
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