ARTICLES LABELLED WITH TAG Warsaw

The Lett Markowska project in Warsaw's Praga Północ district, being developed as part of the housing platform by Nrep, has received financing of PLN 60 million (ca. €14 million) from Santander Bank Polska. The funds will be allocated to the development of the investment, which includes 179 rental apartments. This marks the first collaboration between Nrep and Santander Bank Polska.

With a total loan amount of €168 million Helaba and Erste Group are financing the acquisition of the prime office tower Warsaw UNIT for the Swedish real estate company Eastnine AB. The loan term is for five years and Helaba is acting as co-arranger and agent for the transaction.

Ghelamco has sold its flagship development in downtown Warsaw – the Warsaw UNIT skyscraper at Rondo Daszyńskiego. It was acquired by the Swedish real estate company Eastnine AB for €280 million. This is the largest office market transaction that has been concluded in Europe this year.

CTP has announced its sixth manufacturing and logistics investment in the Warsaw region, CTPark Warsaw Nowy Konik. This new industrial and logistics park will include four warehouses with a total area of over 76,300 sqm, and construction is scheduled to start in the first quarter of 2025.

Panattoni is constructing the third and final building in the Panattoni Park Warsaw West development. The 16,460 sqm building is being constructed to meet the needs of XBS Logistics and the logistics operator plans to start operating in the new warehouse facility from July 2025.

Immofinanz signed a new five-year, €180 million green loan with Helaba, pbb Deutsche Pfandbriefbank and Berlin Hyp, secured by myhive Warsaw Spire, one of the tallest office towers in the capital of Poland with GLA of more than 71,000 sqm and a BREEAM Excellent certification. The green loan replaces a previous financing that was due to mature in January 2025.

Developer activity in the Warsaw office space market is progressively increasing. More than 70,000 sqm finished by the end of September 2024 and around 280,000 sqm under construction in the coming years demonstrate that investors and developers are moving the industry forward. Take-up stays steady at roughly 490,000 sqm in Q1-Q3 2024. Axi Immo summarizes the present condition in the capital's office market. 

According to a report published by Newmark Polska, in the third quarter of 2024, both leasing and development activity on the Warsaw office market remained largely consistent with the levels recorded in the previous quarter. Office take-up, previously dominated by renewals, saw a notable increase in pre-lets which accounted for 22% of the total leasing volume. Meanwhile, Warsaw’s vacancy rate continued its downward trend observed since the beginning of the year.

Revetas Group announces the disposal of the Trinity One class-A office complex in Warsaw to Longvilliers. The terms of the transaction were not disclosed.

MLP Group has completed a transaction with BNP Paribas Bank Polska S.A., securing financing of €21.5 million. The funds will be used to refinance the construction of a 34,600-square-meter warehouse facility at the MLP Pruszków II logistics centre. Legal advisory for the bank was provided by Kycia Legal Banking Finance.