ARTICLES LABELLED WITH TAG Wroclaw

Wratislavia Center, a mixed-use property in Wroclaw has been sold to FLE, an investment advisor headquartered in Vienna. FLE bought the asset on behalf of FLE SICAV FIS, a real estate fund headquartered in Luxemburg and owning a commercial real estate portfolio in Europe and the US exceeding € 2 bn.

Catalyst Capital, a European real estate investment and fund management firm, has bought Nobilis Business House from Echo Investment for €44 million. The building, located on Marii Skłodowskiej-Curie Street in Wrocław, was completed in late 2016.

Globalworth provided an update on a number of initiatives completed prior to year-end: the acquisition of two land plots in Bucharest, an increase in its shareholding in Griffin Premium RE and the completion of the EPP deal.

Union Investment has expanded its Polish shopping centre portfolio by making its first investment of this kind in Wrocław. The latest addition to open-ended real estate fund Unilmmo: Europa is Magnolia Park, which comprises some 100,000 sqm of retail space. Sold to Union Investment by Blackstone for around €380 million, the shopping centre is almost fully let, with leases having an average of 4.2 years to run. The shopping centre will continue to be managed by Multi after the sale. Cushman & Wakefield advised Union Investment on the transaction.

Wrocław’s office market continues its upward momentum. Office take-up hit 132,100 sqm in the first three quarters of 2017, representing a 70% rise on the same period of 2016, says tenant-only real estate advisory firm Cresa in its latest report.

Triuva Kapitalverwaltungsgesellschaft (Triuva) has acquired the Green Day office building in Wroclaw, Poland from a Luxembourg fund advised jointly by GLL Real Estate Partners GmbH (GLL) and Investec Bank PLC. The purchase price is believed to be in the region of €48.5 million.

Warburg-HIH Invest Real Estate has acquired the Pegaz office building in Wroclaw, Poland, on behalf of an individual fund for an institutional investor. Built in 2016 the property has a total rentable area of 20,900 sqm and 390 parking spaces. Pegaz was acquired from Austrian developer UBM Development AG. The parties have agreed not to disclose the purchase price.

In H1 2017, the Wrocław office market recorded demand totalling nearly 92,000 sqm, mostly as a consequence of the high level of activity among tenants from the business services sector. JLL summarised the first half of 2017 on Wrocław's office market.

Warburg-HIH Invest Real Estate, a German based real estate investment manager, will acquire the Sagittarius Business House office scheme in Wrocław on behalf of an individual fund it manages for an institutional investor. The property is under construction and its completion is expected in Q1 2018.

Vastint Poland has appointed Hochtief Polska as the general contractor of the second phase of Business Garden Wroclaw. Under the contract, six office and service buildings with a total leasable area of approx. 79,000 sqm are to be built. Construction works will commence in July this year and will end in November 2019.