Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, August 30, with Winston Norman, Editor and Chief of EuropaProperty.com.
S Immo records positive operating performance despite difficult conditions
S IMMO AG announced a successful first half of the year 2022, as it significantly improved its vital operating figures during HY 2022.
Bruno Ettenauer, CEO of S IMMO AG, commented: “Despite highly volatile market conditions, S IMMO made it through the first half of the year in good shape. The current half-year results once again confirm the robustness of our business model and the profitability of our property portfolio. By completing high-quality acquisitions and competently managing our buildings, S IMMO generates increasing cash flows that provide us with a secure basis and open up opportunities for us in view of the challenging circumstances.”
Friedrich Wachernig, COO of S IMMO, had the following comment: “The focus is on our core business – buying, managing and letting high-quality, high-yield properties. Due to the stagnating prices on the German residential property market, we are currently considering divestment options, which would allow for reinvestments in properties in CEE with solid returns.”
Orpea offers prime sites in major Polish cities
Following a change to its investment model, the ORPEA Group – a European market leader in long-term care and rehabilitation – has decided to restructure its project portfolio in the largest Polish cities, which was built for its planned expansion. Savills has been instructed to search for investors.
Six projects will be marketed – from sites with building permits through to senior housing facilities under construction. They are located in Warsaw, Gdansk, Poznań, Krakow, Łódź and Konstancin-Jeziorna. The central locations and zoning status of most of them also allow for the development of PRS, office or PBSA projects.
“The decision to restructure our portfolio follows the change to the financial strategy of the ORPEA Group and will not affect our Care Homes and Rehabilitation Clinics in Poland,” says Beata Leszczyńska, President of ORPEA Polska.
“The plots were acquired for senior housing projects with a potential of up 1,000 beds, but they also allow for other commercial uses, including residential,” says Jacek Kałużny, Associate Director, Residential Capital Markets, Savills Poland.
Prologis to build 46,000 sqm warehouse in Wrocław
Prologis is starting construction of a 46,000 sqm speculative distribution facility at Prologis Park Wrocław III.
“When building new distribution centres, we design them with the entire community in mind, adjusting them according to the local area and landscape,” says Marcin Czerniewski, Development Manager at Prologis.
Prologis Park Wrocław III currently comprises three buildings totalling 137,000 sqm. Customers at the park include Acer, Deichmann, DSV, Farutex, Max Fliz, Neuca, Selena, and Truvant.
Like all newly constructed Prologis buildings, it will be submitted for BREEAM accreditation. Completion of construction works on the speculative new warehouse is planned for the second quarter of 2023.
Square 7 Properties and Mitiska complete Slatina retail park extension
Square 7 Properties in partnership with the Belgian investment fund Mitiska REIM has completed the extension of Slatina Retail Park in Romania.
The first phase of the retail park was delivered in 2016 and was leased to Deichmann, Takko, Pepco and Flanco. After the inauguration of this second phase, the project is reaching a total commercial area of 8,700 sqm. The retail park also benefits from the presence of two food anchors: Kaufland and Lidl.
“We are finalizing the construction for a new surface of 7,000 sqm where C&A, JYSK, Hervis Sports & Fashion, New Yorker, Kik, Sinsay, Superzoo, Tabac Xpress and Medimfarm will inaugurate new stores,” commented Brîndușa Grama, Leasing Manager Square 7.
Square 7 Properties is currently developing three new developments In Romania which will have a total area of around 35,000 sqm.
