ARTICLES LABELLED WITH TAG Zagreb

S Immo has acquired the almost fully let office building HOTO Tower in the Croatian capital Zagreb from the Austrian SIGNA Group. The distinctive 60-meter-high office tower is characterised by its prominent location along the Savska Cesta in the southwest of the Central Business District.

Cushman & Wakefield has extended its exclusive affiliation with CBS International to enter the Croatian market, expanding its wide array of integrated property services to one of the youngest EU countries.  

M7 Real Estate has refinanced a €4.8 million debt facility secured against the Mani Business Centre in Zagreb, Croatia with Erste Bank Zagreb following the completion of M7’s successful asset management strategy for the property.

Orbis SA, an exclusive partner of AccorHotels for Eastern Europe, and Rox d.o.o. have signed an agreement on cooperation which will result in the opening of a Novotel hotel in Zagreb in late 2020.

The construction of the €40.4 million (HRK 300 million) Matrix Office Park in Zagreb, Polish real estate developer GTC’s newest project in Croatia, will be completed by 2019, local media reports.

Retail and hotel sectors recorded highest investment volumes in the Croatian commercial property market in 2017. According to information available and Colliers’s estimate, 2017 brought more than €320 million investment in transactions of 22 investment properties. This does not include pending transactions or confidential deals.

Hystead Limited, a UK company co-owned by Hyprop Investments Limited (Hyprop) and PDI Investment Holdings Limited (PDI), has acquired a 90% interest in two Croatian shopping centres. The purchase consideration net of €154.4 million asset-based finance is €129.1 million, of which Hyprop’s effective share is approximately €77.5 million. The two malls, namely City Center one Zagreb West and City Center one Zagreb East, are located in Zagreb, the capital of Croatia. The transaction is conditional upon approval of the Croatian competition authority and is expected to close at the end of March 2018.

Aberdeen Asset Management has sold the King Cross shopping centre in Zagreb to SES Spar European Shopping Centers. The transaction price has not been disclosed.

M7 Real Estate, the pan-European investor and asset manager, announces that it has made two further acquisitions for the recently launched CEREF I fund. The acquisitions in Croatia and Hungary totalling €14 million mark M7's first entry into both countries.

On 4 November 2016, NEPI, through its subsidiary NE Property Cooperatief UA, concluded an agreement to acquire all the issued shares in, and shareholders’ claims against, Granit Polus Laniste d.o.o. from Lobularia Ventures Limited and repay Laniste’s entire outstanding debt. Laniste wholly owns a shopping mall of 62,100 sqm of GLA situated in Zagreb, Croatia, that opened in November 2010, named Arena Centar and adjacent additional land plots of approximately 4.4 ha. The aggregate purchase price for the transaction is €237.5 million and was settled from NEPI’s existing cash resources.