ARTICLES LABELLED WITH TAG Prague

News Prague office market set to revive in 2017
14
Feb
2017

Prague office market set to revive in 2017

by Ákos Budai
Office tenants can look forward to a new supply of administrative space that is going to be delivered to the Prague market in 2017 and 2018. Last´s year paradox, when the economy was booming and the market registered a robust demand for new office space, but the amount of new completions dropped to a historical low, is forecast to be cleared out in the months to come. Currently, there are 330 000 sqm of new offices under construction in Prague out of which approximately half (171 000 sqm) is expected to be delivered this year. JLL looked at the largest office submarkets of the Czech capital in detail.
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News CBRE GI takes €108 million loan from pbb
09
Feb
2017

CBRE GI takes €108 million loan from pbb

by Ákos Budai
pbb Deutsche Pfandbriefbank has provided a long term acquisition facility, in a total amount of €108 million, to a company managed by CBRE Global Investors on behalf of a German separate account. The transaction closed in January 2017. pbb acted as arranger and sole lender under the facility. 
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News Prague industrial area has new owner
09
Feb
2017

Prague industrial area has new owner

by Ákos Budai
An industrial area, located in Prague – Horní Počernice has been sold by Carrier to a private investor. The property has a total area of 12,621 sqm. It consists of an administrative building, two warehouses and plots for parking and material manipulation. It features 4,822 sqm of covered premises and offers possible future development.
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News Asian investors dominated the Czech market in 2016
25
Jan
2017

Asian investors dominated the Czech market in 2016

by Ákos Budai
Total real estate investment volume in the Czech Republic exceeded €3.7 billion in 2016, CBRE revealed. The most notable transactions in 2016 were the sale of P3 Logistics Parks, the Park and Florentinum, with 67 transactions being mediated on the Czech market in total. 
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News AEW sells Prague office building to Czech investor
23
Jan
2017

AEW sells Prague office building to Czech investor

by Ákos Budai
AEW has sold the Smíchov Gate office building in Prague 5 after almost ten years of ownership on behalf of one of the funds managed by AEW. The new owner is Redside, manager of real estate open-ended investment fund NOVA Real Estate (SICAV). Cushman & Wakefield facilitated the sale of the property.
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News CA Immo becomes sole owner of two CEE office buildings
18
Jan
2017

CA Immo becomes sole owner of two CEE office buildings

by Ákos Budai
CA Immo has completed negotiations with Union Investment Real Estate GmbH on acquiring 49% of shares each in the office buildings Danube House in Prague and Building A of Infopark in Budapest, both so far part of the open-ended property fund UniImmo: Europe. The deal, which has already been closed, will make an immediate positive contribution to long-term profitability by around €3 million.
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News CBRE GI acquires Prague shopping centre from Tesco
16
Jan
2017

CBRE GI acquires Prague shopping centre from Tesco

by Ákos Budai
CBRE Global Investors has acquired, on behalf of a separate account client, Prague’s Letňany Shopping Centre from Tesco. The value of the transaction has not been disclosed.
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News Aviva and LaSalle acquire Prague office building for €84 million
11
Jan
2017

Aviva and LaSalle acquire Prague office building for €84 million

by Ákos Budai
Aviva Investors and LaSalle Investment Management have acquired River Garden II & III in Prague, on behalf of the Pan-European Fund Encore+ for €84 million. River Garden II & III, developed by HB Reavis is Class A office building with ground floor retail, located in the Karlin district of Prague. This is the first acquisition that Encore+ has made in the Czech Republic.
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News 2017 can be a record year for the Czech investment market
27
Dec
2016

2017 can be a record year for the Czech investment market

by Ákos Budai
Strong demand across all investment sectors is expected to continue into 2017 in the Czech Republic and the €3 billion boundary could be exceeded once again. Retail is likely to become the most popular asset class next year, followed by offices and industrial. CBRE has released the Czech Republic Real Estate Market Outlook 2017.
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News Singapore-based M&L buys Prague hotel from Blackstone
23
Dec
2016

Singapore-based M&L buys Prague hotel from Blackstone

by Ákos Budai
Blackstone has sold the Hilton Prague Old Town hotel and Gestin Centrum, an adjacent 6,900 sqm mixed use commercial building, to Singapore-based real estate investment group M&L Hospitality. JLL’s Hotels & Hospitality group advised Blackstone on the sale.
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Latest news


New leases

  • Designer Outlet Sosnowiec (southern Poland) invites customers to the newly opened Mountain Warehouse brand store. The shop has an area of approximately 400 sqm.
  • Motorola Solutions has renewed its lease at the Green Office complex in Kraków. The company, which has occupied the premises since 2011, will continue leasing 17,761 sqm of office space. The renewal will commence in August 2027 and will be valid for five years at market rent.
  • Prologis has extended its seven-year partnership with AMD Europe. The company will continue to lease more than 5,500 sqm of warehouse space at Prologis Park Poznań.

New appointments

  • Marcin Janik has taken up the position of head of the southern Poland region at CBRE. He will be responsible for Silesia, Małopolska and the previously serviced Wrocław.
  • GTC Group has appointed Miklos Egri as Chief Operating Officer. The new manager will be responsible for the company's day-to-day operational and administrative management in the Central and Eastern European markets.
  • Paulina Petynka has joined the team of Yareal Polska, taking on the position of Leasing Director. She has more than 20 years of professional experience.

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