Coffee with Craig Show – daily CRE news covering the CEE region – Friday, March 18 with Winston Norman Editor and Chief of EuropaProperty.com – Celebrating over 300 shows!!! Become a partner and reach over – 8,000 viewers weekly – 14,000 viewers on the Executive interviews.
HAGAG DEVELOPMENT ACQUIRES BUILDING IN BUCHAREST
Real estate developer Hagag Development Europe continues its ambitious expansion plans in Romania by adding a new investment to its assets portfolio. The company has recently purchased an office building located on 5-7 Vasile Lascar Street, 400 meters away from Bucharest’s KM 0 area.
“With this new transaction, we are not only strengthening our presence in Romania as a long-term investor and dynamic real estate developer, but we are reiterating, as well, Hagag Development Europe’s promise to contribute to the renewal and modernization of central areas by reviving some of the old buildings that have not only historical but also cultural and heritage value,” said Yitzhak Hagag, co-founder and shareholder of Hagag Development Europe.
The building’s history goes back to more than 75 years and the project enjoys all the facilities deriving from its privileged location. Moreover, the Vasile Lascar area is recognized as one of Bucharest’s representative neighbourhoods, relevant for both the historical and cultural identity of the city.
VGP AND ALLIANZ COMPLETE €364 MILLION LOGISTICS PORTFOLIO PURCHASE
VGP and Allianz Real Estate, acting on behalf of several Allianz Group companies, announced a successful third closing with its 50:50 joint venture, VGP European Logistics II (‘Second Joint Venture’)1. The transaction comprised of 13 logistic buildings, including 9 buildings in 5 new VGP parks and another 4 newly completed logistic buildings which were developed in parks previously transferred to the Joint Venture.
The 13 buildings are located in Spain (7), Italy (4), the Netherlands (1) and in Romania (1).
Following the completion of this third closing of the Second Joint Venture, the Second’s Joint Venture’s property portfolio consists of 32 completed buildings representing around 642,000 sqm of lettable area, with a 99.8 percent occupancy rate.
MATEXI POLSKA ACQUIRES RESIDENTIAL LAND PLOT IN THE CENTRE OF WARSAW
Matexi Polska has purchased an attractive plot of land on Aleje Jerozolimskie in the centre of Warsaw. The company will build a residential development of 300 flats of various sizes.
The company is considering two options for carrying out the investment – either in the PRS formula (Private Rented Sector) or the individual sale of premises. If the first option is chosen, it would be Matexi Polska’s third transaction for the PRS segment in Warsaw. The last – a 17-storey apartment building in Warsaw was purchased in full by Aurec Capital Poland in 2021.
“I am convinced that the project will fulfil the Company’s aspiration to fully integrate the investments it builds with the surrounding, existing urban tissue – it will perfectly fit into this part of the district, creating a qualitative space from the point of view of not only the future residents of the investment but also the city,” said Mirek Bednarek, Regional Business Director at Matexi NV.
GTC APPOINTS ZOLTÁN FEKETE AS PRESIDENT OF THE MANAGEMENT BOARD
Zoltán Fekete has been appointed the President of the Management Board of GTC. Previously, he served the company as the Chairman of The Supervisory Board. In the new role, Mr Fekete will steer all GTC’s operations in the region.
Zoltan’s proven track record in investment banking and private equity contributed to reinforcing GTC’s reputable image in the eyes of strategic partners, key investors and independent financial institutions. The nomination of an experienced and well-known expert for the position of President of the Management Board confirms GTC’s desire to strengthen its position through M&A transactions as well as purchasing particular assets and land plots in attractive locations and developing further commercial real estate projects.
“With such truly dedicated real estate professionals on board, I will see to the GTC’s growth, leveraging lessons learned and best practices of my predecessors. I am sure together we will continue to develop and surprise stakeholders with new remarkable results,” commented Zoltán Fekete, newly appointed President of the Management Board.
