ARTICLES LABELLED WITH TAG Spravia

News Crestyl takes full control of Polish residential developer Spravia
02
Nov
2023

Crestyl takes full control of Polish residential developer Spravia

by Property Forum
Czech developer and investor Crestyl has strengthened its position in the Central European residential property market. This week it completed the acquisition of the remaining 50% stake in one of Poland's largest residential developers Spravia (formerly Budimex Nieruchomości) from Cornerstone Partners, giving it full control of the company. Both partners initially bought the Polish developer in 2021 for PLN 1.51 billion (approximately CZK 8.5 billion) in one of the largest real estate deals in CEE. The price of the current transaction has not been disclosed. This acquisition will enable the integration of Spravia into the Crestyl Group, while further strengthening Crestyl’s balance sheet from the current €850 million to €1.3 billion, with the intention to grow further in both markets.
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News Crestyl starts construction of first Polish project
14
Sep
2021

Crestyl starts construction of first Polish project

by Property Forum
Following the acquisition of Polish residential developer Budimex Nieruchomości - now renamed Spravia - construction of its first project has begun with its new owner, Czech developer and investor Crestyl. The two phases of the Mińska 69 residential complex in Warsaw will offer nearly four hundred apartments for long-term rent. Based on a previously concluded strategic partnership, they will be bought by Heimstaden Bostad, one of Europe’s leading residential real estate rental companies.
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News Budimex Nieruchomości becomes Spravia
15
Jun
2021

Budimex Nieruchomości becomes Spravia

by Property Forum
Budimex SA has signed the final sales agreement of Budimex Nieruchomości. Therefore, the private equity investment firm Cornerstone Partners and Czech development group Crestyl took over the entire shareholding of the company.  This is the biggest acquisition in Poland and Central and Eastern Europe since the outbreak of COVID-19 pandemic. The next stage is changing the name of the company - Budimex Nieruchomości is now Spravia.
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Latest news


New leases

  • Activ Property Services brokered the transaction in which moveX leased 3,300 sqm of modern logistics space within the Mega Company Park in Chiajna, near Bucharest.
  • The Polish branch of Lufthansa Technik AG, a global provider of maintenance, repair and overhaul services for civil aviation, has joined the group of tenants at the Infinity office building in Wrocław. The company has leased over 860 sqm of office space in the building, in the heart of the city on ul. Legnicka. Lufthansa Technik AG will move into its new headquarters in April 2026. The lease was signed for seven years.
  • Fortress Logistics Real Estate, part of South African global investment platform, has set up office in the third floor of the Metropolitan building on Piłsudski Square. The Warsaw office will overlook the Ministry of Culture and the Raffles Europejski Hotel.

New appointments

  • Romanian developer Redport has appointed Sorin Ioan Blaga as COO. In recent years, Blaga has served as CEO of Liebrecht & wooD Romania, managing real estate developments with a combined value of several hundred million euros, and as COO & Co-CEO of The Concept Group.
  • From mid-October, László Csapó will take up the position of Director of Business Development at Danubius Hotels Zrt. He succeeds Andrea Róna, who had held the position since 2022.
  • Cushman & Wakefield Echinox has named Gabriel Vințe as Business Development Manager within the Project & Development Services (PDS) department. He will also oversee the business line dedicated to sustainability services. Vințe has over 21 years of experience gained in renowned companies across sectors such as financial services, retail, residential, and consultancy.

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