Coffee with Craig Show – daily CRE news covering the CEE region, Monday, January 23, with Winston Norman, Editor and Chief of EuropaProperty.com.
Trei raises €40 million in debt funding from Berlin Hyp
Trei Real Estate has raised €40 million in debt funding from Berlin Hyp bank. The loan has a five-year maturity and was collateralized with eight retail parks from the company’s Vendo Park brand in Poland. The funds will be used for the construction of additional Vendo Parks in Poland as well as for further residential developments in Germany and Poland.
Matthias Schultz, CFO of Trei Real Estate, commented: “It is the second time that we succeeded in securing a cross-border financing arrangement between Germany and Poland – and this despite the current difficult market phase.”
Teresa Dreo-Tempsch, Head of Markets at Berlin Hyp, said: “Trei is one of the biggest developers of retail parks in Poland and was able to keep expanding its portfolio last year.”
Huge office portfolio to be refinanced in Budapest
Asset management firm Diófa and the Hungarian branch of Erste Bank have concluded a financing deal for seven years. The refinancing contract is worth €73 million, according to reports. The portfolio consists of three prime office buildings – V17, Green House and Alkotás Point, offering a total of 53,000 sqm GLA of modern space in Budapest.
“We are continuing our almost ten-year cooperation with another seven-year contract with Torony Ingatlan Alap and Diófa Fund Management,” pointed out Tamás Deák, Head of Real Estate Financing at Erste Bank Hungary.
“The transaction shows that the best quality office buildings on the Budapest market represent a high value even in the midst of changing market processes and expectations,” noted Zsolt Jakab, Diófa Fund Management’s portfolio manager responsible for real estate funds.
Bridgestone and ESA Logistika launch warehouse at Panattoni Park Poznań East Gate
Bridgestone, a leader in tyres and sustainable mobility solutions, and ESA logistika have opened a 50,000 sqm tyre warehouse where tyres will be shipped for further distribution.
“Our new project launched with ESA logistika reflects our commitment to creating a supply – chain and logistics with long-term environmental benefits and aligns perfectly with the “Ecology” and “Energy” values in the Bridgestone E8 Commitment,” says Elżbieta Oussar, Logistics and Supply Chain Director, Bridgestone Europe East Region.
“Innovation is something that we use at ESA logistika every day,” says Rafał Łuczak IT and Implementation Manager at ESA logistika.
Retail Leasing news
The Rituals Cosmetics brand, which appeared on the Polish market stationary just over a year ago, is opening its 20th shop in Poland. The Dutch brand’s products will appear in the Silesia City Center Gallery in Katowice. This will be the second Rituals location in the city.
A Polish fashion chain Carry has joined the group of tenants at Bełchatów’s Galeria Bawełnianka. It will be the only shop of this brand in the city. It will occupy around 700 sqm of space.