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.
Catering products supplier Bidfood Farutex has become the first tenant of DC4 building at Prologis Park Wrocław III, having leased 9,795 sqm. Farutex will move into its new space in August 2023.
Warsaw's Renova shopping mall, located in Targówek and owned by Napollo, has just opened the first outlet of the Mother Earth brand in Warsaw. The outlet will be located on the ground floor of the mall.
Gdańsk's Galeria Zaspa has gained a new tenant. Clothing brand Sinsay has taken nearly 600 sqm of space in the facility.
New appointments
Oscar Kazanelson - the current Chairman of the Supervisory Board of ROBYG - has been appointed Chairman of the Supervisory Board of Vantage Development. This is related to the decision to build synergies within the TAG Immobilien Group.
Piotr Chemperek has joined the experts of the Office Space Department at Colliers Poland, taking the position of Associate Director. He will be responsible for advising companies in the medical sector.
Magda Twarowska joins Logicenters Poland, the logistics arm of NREP, as Head of Commercial. She will be responsible for managing tenant relations and leasing activities, covering the standing assets and projects held by NREP NSF IV portfolio company, BIK S.A.
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