Echo Investment has signed a preliminary agreement with Invesco Real Estate European Fund (IREEF) to sell its flagship project, the Q22 office building in Warsaw.The value of the transaction will be established in the final agreement and it will be calculated on the basis of a formula which takes into account the actual sales date, a commercialization level and a cap rate of 5.35%.
Construction of the first of two West Station office buildings, located in the immediate vicinity of the new Warszawa Zachodnia railway station, has completed. The complex, seen from both Jerozolimskie Ave. and all passing trains, will soon welcome its first occupiers. Its developer, international real estate company HB Reavis, signed a loan contract to refinance the project.
HB Reavis has selected JLL as the property manager of West Station I in Warsaw. JLL will be responsible for maintaining relations with tenants and supervising the technical, operational and administrative aspects of the building.
Echo Investment – a Polish developer – and Echo Polska Properties – an international fund operating as a REIT - signed agreements to jointly buy and jointly develop a real property at ul. Towarowa 22 in Warsaw from Griffin Real Estate, a Polish private equity fund. The buyers will pay €120 million for the property – €78 million upon signing the agreement, while the remaining amount will be paid after certain planning conditions are met.
Global law firm White & Case has signed a lease agreement for 2,500 sqm of modern space in the Q22 office building. The firm will relocate to its new office by the end of 2017 and will occupy floors 37-38 as well as part of floor 39. JLL represented White & Case during the process of selecting a new office and negotiating the lease terms.
KRM Poland, a distribution branch of the shoe retailer Ecco, has significantly expanded its warehousing and operations at Bokserska Distribution Center in Warsaw. The company is introducing its e-commerce platform to the facility and will occupy more than 10,500 sqm. Knight Frank, the manager of the property, advised the owner, UK & European in the transaction.
International real estate developer HB Reavis has signed a preliminary sale agreement to sell two of its buildings, situated in Warsaw, to Savills Investment Management on behalf of a Global Pension Fund client. In one of the largest transactions of the year in Poland and also in Central and Eastern Europe amounting to €186 million, Savills Investment Management has acquired buildings A and B of the Gdanski Business Center in Warsaw, totalling 48,000 sqm.
HB Reavis has successfully leased 5,000 sqm of office space to five different companies at Gdanski Business Center and Postepu 14 located in the city fringe of Warsaw. Groupe SEB Polska and Joseph’s Bistro & Wine restaurant are new clients, whereas KPMG, WebInterpret and Fab Tax & Accountancy by Bilans SA extended their existing leasing agreements.
JLL has been selected as property manager for the Wołoska 24 office building in Warsaw. The firm’s responsibilities include maintaining the best relations with tenants and the complex operational, technical and financial management of the property. Ghelamco is the project’s investor and developer.
International real estate developer HB Reavis has sold its Konstruktorska Business Center to international real estate investment company Golden Star Estate B.V. in the developer’s first divestment in the Polish market.
Tech start-up A4BEE has leased 600 sqm of office space in Wojdyła Business Park in Wrocław. Cushman & Wakefield advised the owner for this transaction.
Colliers branch in Katowice has changed its address. Since September the office is located in the .KTW I building on Roździeńskiego Avenue 1a. Colliers has taken the space on the first floor of the building.
Meat2Eat has leased 400 sqm for a new restaurant that it opened on the ground floor of One Tower office building in Bucharest. The transaction was brokered by Cushman & Wakefield Echinox. The building is owned by Romanian developer One United Properties.
Łukasz Czajkowski joins the team of JLL Poland as Business Services Lead in Tenant Representation Department. He will be responsible for enhancing relations with the BSS sector.
Craig Maguire has been appointed Head of Pan-European Logistics for BNP Paribas Real Estate. He will head up the European coordination of the Logistics business (Investment and Rentals/Sales), alongside the local teams of BNP Paribas Real Estate.
Victor Cosconel is the new Head of Industrial & Business Development at real estate consultancy Colliers Romania. He has more than 20 years’ worth of experience in sales, business development and general management. Before joining Colliers, he was CEO of Sodexo Bulgaria.
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