M7 Real Estate has completed the final sale on behalf of the M7 Central European Real Estate Fund I (M7 CEREF), with the disposal of the Mani Business Centre in Zagreb to Raiffeisen Pension Insurance Company. M7 will continue to asset manage the property on behalf of the new owner.
Croatia’s remarkable recovery from the brutal impact that the COVID-19 epidemic had on the country in 2020 is, like its construction boom, both real and smoke and mirrors, both temporary and long-term, according to Michael Glazer (SEE Regional Advisors) and Tatjana Halapija (Nada Projekt), the Eastern European Construction Forecasting Association’s members in Croatia.
Investment sentiment among property companies has improved since the start of the pandemic and developers are adapting to emerging demands, suggested speakers during the post-COVID-19 investment and asset management strategies panel of SEE Property Forum 2021, Property Forum's annual event in Bucharest.
BIG Shopping Centers Ltd., the controlling shareholder (~95%) of BIG CEE, successfully raised NIS 205 million (approx. €55 million) by issuing secured bonds in the Israeli stock exchange by refinancing the following shopping centres: BIG Fashion Kragujevac, BIG Kruševac and BIG Fashion Outlet Inđija.
Belgrade Waterfront is adding one more residential building which will be its 24th. BW Eterna is a building with 223 residential units on six standard and two recessed floors. This building has apartments of different sizes and structures – from one to four-bedroom apartments.
In spring 2021, Hungarian FM provider B+N Referencia Zrt. acquired the interests of ISS Group in the Czech Republic, Slovakia, Romania and Hungary. With this move, the Hungarian company group has become one of the largest facility operators in the region. As a logical continuation of this expansion, the company purchased a 100% stake in the Slovenian subsidiary of ISS.
SAP is acquiring the newly built Class A office building Park Lane Office Center in Sofia for €49 million. The purchase price is equivalent to a 7.5% asset yield. This is the largest investment deal on the Bulgarian office property market so far in 2021
CTP has recently finalised two strategic acquisitions in Bulgaria as part of its two-year, €300 million expansion plan to further grow its presence in the country.
Kraków's Nowe Czyżyny centre will be home to a new brand from the sports segment. The Newbridge leasing department has signed a lease agreement with 4F. In recent weeks, Monnari, Triumph and W.Kruk have also debuted in the facility, while Empik is preparing to open a store.
ROCKWOOL is expanding its office space in the Nowy Rynek D building, developed by Skanska in Poznań. In 2020, a competence centre was established on an area of 6,000 sqm. Now, the company has decided to lease additional 900 sqm.
Primark has opened the doors of its fourth shop in Poland for the first time in Katowice's Silesia City Center. The store occupies more than 3,600 sqm of retail space.
New appointments
Tezenis brand has joined the tenants of Galeria Warmińska. This is the first showroom of this Italian brand in Olsztyn in Poland. The new boutique occupies an area of approximately 190 sqm.
Anna Trębicka will be responsible for the integration of all CBRE business lines in the Łódź region in Poland, as well as the development and proper functioning of the Łódź branch.
108 Agency announced the appointment of Petr Jílek as the new Head of Property Management for the Czech Republic.
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