Coffee with Craig Show – daily CRE news covering the CEE region, Monday, August 29 with Winston Norman, Editor and Chief of EuropaProperty.com.
Česká spořitelna refinances Zeitgeist am’s Czech residential real estate portfolio
Česká spořitelna, the Czech subsidiary of ERSTE Bank, is refinancing a Czech real estate portfolio managed by real estate developer and asset manager Zeitgeist Asset Management. The deal valued at €113 million will enable Zeitgeist to ensure the financial stability of its current portfolio for the next 10 years. The portfolio includes 23 buildings in Prague – consisting primarily of residential apartment buildings and student accommodation – with a total value of €220 million.
Partner Daniel Hurych, Co-head of the Banking and Finance practice in Prague, led Dentons’ legal team and commented, “The proportion of household budgets dedicated to housing has risen dramatically over the last decade, and many families lack the necessary access to financing to purchase their own homes. We were grateful for the opportunity to join Česká spořitelna in this project, which will boost the availability of long-term rental and student housing in Prague.”
CTP starts office prject at Brno Ponávka complex
CTP has officially launched the construction of a CZK 1.5 billion office building which will close the first stage of the Brno Ponávka complex development. At the same time, a modern urban park worth CZK 30 million is being built in the complex, as a cooperation between the developer and the City of Brno.
The A4 building is scheduled for completion in 2023/2024 and will close the revitalisation of the Ponávka site, where a complex of residential, commercial, and industrial buildings has been created. On its 13 floors, the project will offer 25,000 sqm of office space.
“A4 is the last of the buildings being constructed on the original brownfield site and will conclude the revitalisation of the Ponávka complex,” commented Michal Dospěl, Regional Project Manager at CTP.
DHL Supply Chain begins construction of 110,000 sqm logistics facility in Poland
DHL Supply Chain has begun the construction of a logistics facility in Gorzów Wielkopolski with a planned total area of 110,000 sqm.
The construction of the facility will ensure further expansion of the DHL Supply Chain along Poland’s western border and is also DHL Supply Chain’s response to the increasing demand in the e-commerce market, which has been growing at a record double-digit rate for several years.
Construction of the facility is expected to last until the beginning of 2023. By the company’s standards, the facility will undergo a certification process and will operate according to the BREEAM system at an Excellent level.
“The construction of the DHL Supply Chain logistics centre in the capital of the Lubuskie Voivodeship is an important step in the company’s development strategy in Central Europe. We chose this place for our investment because Gorzów Wielkopolski is located in an ideal place for our logistics chain, connecting the east with the west (via the nearby A2 highway) and the north with the south (via the S3 expressway) not only in terms of Poland but also of this region of Europe,” said Tomasz Kocik, Vice President of Finance of DHL Supply Chain in Central and Eastern Europe.
Element Industrial and Tesla Group sign an innovative deal to produce green energy
Romanian industrial and logistic developer, Element Industrial and Slovakian sustainable energy solutions provider, TESLA Group have recently signed a long-term partnership in which TESLA will produce and operate photovoltaic energy on the rooftops of the ELI Parks projects.
Element Industrial is currently developing a class A logistics park in the Bucharest North West area, where, by the end of 2022 will have a 100,000 sqm delivered portfolio. The company aims to have around 200,000 sqm delivered throughout the country by 2023, with new projects in Ploiesti, Bacău and Braila.
“This partnership reflects our strategy to develop a sustainable portfolio that will allow our tenants to cover at least 30 percent of their consumptions from green energy with a direct positive impact on the total occupancy cost,” said Andrei Jerca, Managing Director of Element Industrial.
“Through this partnership with Element Industrial, we are focusing on solar energy conceptual innovation for long-term sustainability, which is our key mission,” said Dušan Lichardus, Chairman of the Board TESLA Group.