Coffee with Craig Show – daily CRE news covering the CEE region, Friday, February 17, with Winston Norman, Editor and Chief of EuropaProperty.com.
Dentons advises HB Reavis on financing for Varso Place
Dentons has advised HB Reavis on obtaining financing for the development of the Varso Place mixed-use building complex in the centre of Warsaw. The €475 million financing represents the largest non-portfolio loan in the history of the commercial real estate market in Poland and one of the largest in Central and Eastern Europe. The financing was provided by a consortium of banks, including Santander Bank Polska, Bank Pekao, Helaba and Berlin Hyp.
Varso Place consists of three buildings comprising 144,000 sqm of leasable space, including offices, a hotel, an innovation centre and retail units. The centrepiece of the development is the 310m Varso Tower skyscraper which was completed in 2022.
“Supporting HB Reavis on their investment strategy is always a source of great satisfaction and distinction for us. We are glad that we were able to once again advise the client on an exceptional financing of such a prestigious project as Varso Place,” said Bartosz Nojek, Partner in the Banking and Finance team, who supervised the transaction.
Santander providing finance for MLP Łódź Park
MLP Group has signed a new agreement with Santander Bank Polska. The institution provided funding in the amount of over €19 million and PLN 4 million. The funds will be used to refinance the existing warehouse facilities and finance the construction of new warehouse facilities within the MLP Łódź logistics park. So far, more than 43,000 sqm has been commissioned in the newly constructed centre. Kycia Legal advised on the transaction.
“We are very pleased to finalize the transaction with another leading financial institution in Poland.,” said Monika Dobosz, CFO at MLP Group S.A.
“The long-term financing provided by Santander Bank Polska, a financial institution that has been supporting the development of the warehouse and logistics sector in Poland for many years, is the result of the positive perception of the MLP Group S.A. operating model,” stressed Paweł Sobień, Corporate Clients Director of Santander Bank Polska.
Real Management acquires plot for industrial facility near Warsaw
Real Management has finalised the purchase of a development plot in Łubna near Warsaw. The 13.3-hectare plot will be used for the Good Point IV project, a modern manufacturing and industrial facility offering a total of 50,000+ sqm of warehouse space. The project is scheduled for completion in Q1 2024.
“With the finalisation of the land acquisition in Łubna, we have taken another important step in implementing our business strategy for the coming years, which is based on manufacturing and industrial developments,” said Arkadiusz Płociński, vice president of Real Management.
In line with its strategic goals for the next four years, Real Management S.A. plans to develop a further 500,000 sqm of modern production and industrial space under the name Good Point.
Glinianka retail park near Warsaw almost complete
At the end of the first quarter of 2023, the opening of a retail park in Łubna near Warsaw is planned. The new retail park will provide the market with a total of approximately 10,000 sqm of rentable areas. Tenants include Carrefour, Sinsay, TEDi, KiK, Pepco and Rossmann.
“The retail park in Łubna is a very good example of a model investment, which is to provide local markets with a rich, diversified commercial, service and recreational offer,” says Łukasz Komierowski, President of REDKOM Development, the developer of the project.
“The park in Łubna near Warsaw is a high-quality retail space developed as part of an innovative project on the Polish market to introduce community spaces to the park areas, which are designed to integrate local communities,” sums up Anna Wojciechowska, Senior Leasing Manager at Scallier, the company responsible for the commercialization of space in the Glinianka retail park.
SmartBear opens new office in Wroclaw
SmartBear, a leading provider of software development and visibility tools, unveiled its new office in Wroclaw in an open house and ribbon-cutting ceremony to celebrate the company’s new space in Vastint’s Business Garden Wroclaw.
Dan Faulkner, Chief Product Officer at SmartBear, said, “Our Poland office has become the hub for providing authentic developer experiences, preparing engineers with the confidence and hands-on skills they need to launch a successful career as a software developer. We look forward to embracing a new generation of developers to the SmartBear team in our new Poland office.”
