#BUDAPEST week – #BudaPart Gate – Coffee with Craig Show daily CRE news covering the CEE region, Friday, July 15 with Winston Norman, Editor and Chief of EuropaProperty.com.
Falcon spreads its wings
Falcon Investment Management, a new investment fund operating in the retail park sector, has just enlarged its portfolio with one more centre – Pasaż Golubsko-Dobrzyński. The purchase of this project is the prologue to building up a strong chain of parks.
The investment fund has ambitious development plans, which it is systematically pursuing with support from its various business partners through forward purchasing deals, joint ventures, the purchase of completed projects, and also the development of its centres.
“We are entering the market with clearly defined goals. We want to create a chain of retail parks that comprises so-called Power Centres, which dominate their regions,” said Piotr Piechocki, the founder and chairman of the board of Falcon Investment Management.
“We are interested in projects starting at around 4,000 sqm GLA as well as plots in towns of over 10,000 people and the suburbs of large urban areas. Our goal over the next few months is to secure further properties,” said Tomasz Pawilonis, the Development Director at Falcon Investment Management.
The investor is also currently working on centres that it is developing independently. The fund’s business partners include companies such as TUF RE, BOIG and Acteeum Central Europe.
GTC presents industry-unique data on ESG activity
GTC has published its latest ESG report, summarizing the Group’s activity for the previous year. The 2021 report presents industry-unique data on GTC’s engagement in sustainable development, responsible construction and asset management, collaboration with local communities and responding to stakeholders’ expectations. The report highlights that 88 percent of GTC’s portfolio is environmentally certified and the success of GTC Group’s “green” Eurobonds in 2021.
Last year was marked with great success since all GTC properties in Poland obtained sustainability certificates. Moreover, all Polish and Romanian offices of the company are currently powered by green energy, and local offices are also involved in environmental activities. In 2021, GTC obtained and renewed green certificates for 18 buildings and another 12 in early 2022.
Considering the high expectations of stakeholders, GTC has significantly improved its operations in terms of environmental impact. In 2021, due to the technologies used and the introduction of green energy, the Group reduced greenhouse gas emissions of the office building by 62 percent in Romania and 44 percent in Poland
“Our business strategy relies on the principles of sustainable development, and we strive to manage our assets in line with the best ESG practices. As a responsible investor and a good neighbour to our local communities, we present the 2021 ESG report as proof of commitment to this mission. On this occasion, I’d like to thank our extended GTC family: employees, tenants, shareholders, business partners and local communities across the whole CEE for being a part of this journey,” commented Zoltan Fekete, CEO and the President of GTC Management Board.
GARBE completes first closing for its new pan-European logistics fund
GARBE Industrial Real Estate GmbH raised approximately 400 million euros in equity among German and international investors for its investment fund, “GARBE Logistics Real Estate Fund Plus III” (“GLIF+III”). With a planned investment volume of five billion euros, it is GARBE’s largest pan-European fund for institutional investors to date.
The new logistics fund invests in established logistics sites across Europe as well as in selected growth regions, in some cases pursuing value-add and development strategies in addition to its primary core-plus strategy. Its seed portfolio consists of 22 assets with an investment volume of more than 650 million euros and about 400,000 square metres of lettable area. The properties show an occupancy rate of 95 percent.
Christopher Garbe, the Managing Partner of GARBE, commented: “This represents a strategic milestone, and is the result of our active European expansion strategy. The GLIF+III combines our entire management competence while opening our platform up to international institutional investors.”
Jan Philipp Daun, Managing Director of GARBE, added: “The fund taps the principally robust market sentiment, and allows institutional investors to participate in the ongoing logistics boom. Our well-filled project pipeline enables us to ensure speedy capital drawdowns despite the keen demand for logistics real estate.”
Bidfood Farutex leases space at Fortress Logistic Park Bydgoszcz
Bidfood Farutex, a service wholesaler of food, beverages, and catering equipment to customers across a wide range of sectors, has leased over 2,150 sqm of warehouse and office space at Fortress Logistic Park Bydgoszcz. AXI IMMO acted as the agent, providing comprehensive services to the tenant.
“We carefully plan the logistics so that the fleet can complete the route to each customer without any issues. We have successfully secured all these factors at Fortress Logistic Park Bydgoszcz, which is why this investment is being made into the newest Bidfood Farutex distribution centre in Poland,” explained Sławomir Żegleń, Bidfood Farutex.
Fortress REIT Limited is South Africa’s largest owner and developer of premium-grade logistics real estate. Fortress Logistic Park Bydgoszcz offers 48,300 sqm of warehouse space, with the potential to expand to 91,000 sqm.
“Our ability to partner with our clients by understanding their challenges allowed us to tailor a state-of-the-art logistics offering that meets BidFood’s business and service ambitions,” comments Bartosz Klimek, Asset and Leasing Director, Fortress REIT Limited.
