According to the last few months’ most active investor on the Slovak market, investment activity is returning to normal. Martin Šmigura, investment manager of WOOD & Company’s real estate operations in Slovakia, talked to Property Forum about the company’s recent investment deals and shared his market expectations.
Wood & Company has obtained a loan of €229.5 million, one of the highest amounts in the Slovak real estate market, to refinance the debt of the Aupark shopping centre in Bratislava. The financing will be provided by several European banking groups, all of which have operated historically in Slovakia.
Wood & Company, together with its JV partner Tatra Asset Management, has announced the acquisition of the Aupark Bratislava shopping centre in Slovakia from Unibail-Rodamco-Westfield. The completion of the transaction is expected during the first half of this year and is subject to standard conditions precedent, such as competition clearance.
CA Immo has successfully closed the sale of the Bratislava Business Center 1 and 1 Plus office buildings in Bratislava to Wood & Company, a leading investment bank in Central and Eastern Europe. The office complex covers rentable area of around 25,500 sqm.
Current owner Unibail-Rodamco-Westfield is reportedly planning to sell the Aupark shopping centre in Bratislava and is currently in the final talks with Czech investment group Wood & Company, according to index.sme.sk. The potential new owner is allegedly interested in purchasing the asset for around €500 million.
The Lakeside Park 02 project, developed in Bratislava's Nové Mesto area by Immocap and WOOD & Company, received construction and investment financing from Slovenská sporiteľňa in the amount of €24 million.
The Greenline office building, located in the heart of the Prague 4 business district, has been purchased by WOOD & Company from property developer Karimpol International. WOOD & Company’s real estate funds invest in commercial real estate (office buildings and shopping centres), and are among the best-performing funds in the market. With the acquisition of The Greenline, the market value of the fund's assets has exceeded €500 million.
The Czecho-Slovak High Yield Fund managed by investment bank Wood & Company has bought the BBC5 business centre in Bratislava from Heitman Real Estate Fund. This is the second deal closed between the two companies this year, following the acquisition of Aupark Tower.
From March 2022, Skyliner will become the new headquarters of the Polish branch of Colonnade. The insurer will occupy the area of 1,500 sq m. The company operates in the field of “non-life” insurance products for corporate and individual clients.
108 Agency Hungary has mediated a lease of 5,000 sqm for Citronex at WLP Budapest East Business Park. Citronex is a Polish family company that has been on the market since 1988, setting the highest standards in many diverse industries.
108 Agency Slovakia has secured a lease of 3,392 sqm for a confidential client in the Plus Centrum office building located in Bratislava.
New appointments
Diófa Fund Management has appointed Gábor Pozsgai as the company's new advisor to the Board of Directors. He will be responsible for the development and efficient operation of the sales strategy framework.
Colliers Poland is developing its Workplace Innovation department – Karolina Dudek, PhD has just joined the team as Associate Director. She will use her skills in organisational diagnosis, knowledge of research methodology and design management expertise to support the shaping of sustainable work environments.
Cromwell Property Group has appointed Piotr Goździewicz as senior investment manager for Central and Eastern Europe. He will be responsible for executing a variety of investment strategies of Cromwell and its capital partners in the region with a focus on Poland, Czech Republic and Slovakia.
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