Coffee with Craig Show – daily CRE news covering the CEE region, Monday, September 19, with Winston Norman, Editor and Chief of EuropaProperty.com.
Varso Tower in Warsaw is completed
HB Reavis has completed the construction of Varso Tower, the tallest skyscraper in the EU, designed by Foster + Partners. The first tenants will soon move in.
The quality of the pro-ecological solutions used in the building, conducive to the well-being of users, has been verified by independent auditors BREEAM and WELL.
Currently, tenants are arranging their offices inside the building. The first employees will move into Varso Tower in September. Ultimately, the following companies will open their offices here: the IT service provider Box and the international law firms CMS and Greenberg Traurig.
Marvipol sells another PRS project in Warsaw to Heimstaden
Greenberg Traurig advised Marvipol Development S.A. on the sale of 138 residential and non-residential units in the Unique Tower complex, situated in Grzybowska Steet in Warsaw, to the Heimstaden Bostad Group.
Unique Tower is a modern multi-use development comprising residential, office and commercial units. The Unique Tower development is one of the tallest premium residential buildings in Poland.
“We are very pleased to have advised the Marvipol Group on a transaction related to this prestigious project. The PRS sector continues to attract institutional investors focused on the private rental segment,” said Jolanta Nowakowska-Zimoch, Managing Partner of the Warsaw office of Greenberg Traurig.
S Immo implementing office market strategy in Austria and Hungary
S IMMO AG is accelerating the sale of German residential properties and will direct proceeds towards other core markets, particularly office properties in Austria and Hungary.
The liquidity existing and released by the sale of German residential properties (book value of the entire German residential portfolio as of 30 June 2022: €846.1 million) shall be (re)invested, particularly in office properties in Hungary and Austria. S IMMO expects the acquisitions and portfolio restructuring to have a significantly positive impact on its key earnings figures from 2023 onwards.
EBRD lends €50 million to UniCredit Bank to support Romanian business
The EBRD is lending €50 million in local currency to UniCredit Bank Romania to increase its funding base and continue supporting the economy, focussing on private businesses in the challenging economic environment caused by the war in Ukraine.
The loan falls within the EBRD’s Resilience and Livelihoods framework – €2 billion pledged by the EBRD to support companies and countries directly or indirectly affected by the war in Ukraine.