Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, March 21, with Winston Norman, Editor and Chief of EuropaProperty.com.
American buyers increasingly attracted by European real estate
According to Savills, pricing levels are increasingly attracting North American investors to European real estate. In 2022, North Americans invested more than Europeans in cross-border deals, €48 billion compared to €36.6 billion. In the Czech Republic, investors from North America spent €321 million in 2022 (40 percent above the five-year average.
James Burke, Director of European Capital Markets & Global Cross Border Investment at Savills, says: “Investors with less appetite for risk should focus on strategies targeting income-driven assets in the most appealing locations and sectors in Europe. These should be chosen based on long-term trends, thereby offering greater stability and resilience to market fluctuations.”
Fraser Watson, Director of Investment Advisory at Savills CZ and SK, adds: “The situation in the Czech Republic will most probably copy the European trend, with the muted activity until summer and an uptick in activity during the second half of the year.”
MLP Group reaches PLN 4.4 billion in assets
MLP Group has a very good financial standing. This is confirmed by its reported 2022 performance figures. The Group’s Net Assets Value went up 37 percent, to around €530 million.
MLP is developing its operations in Poland, Germany, Austria and Romania. The Group’s existing portfolio comprises 21 logistics parks. Its strategic goal remains to expand the warehouse portfolio by developing big-box facilities and urban logistics projects.
“We continue to see robust occupier demand combined with market vacancies close to historic lows in supply-constrained markets, we expect this contrast between positive demand and limited supply to drive further growth in rental levels,” said Radosław T. Krochta, President & CEO of MLP Group
GLP completes Poznań Airport Logistics Centre
GLP has completed the third building at Poznań Airport Logistics Centre. This is the final stage of the project, which now offers more than 81,000 sqm of warehouse and production space.
The latest building in GLP’s logistics park totals over 28,600 sqm. The facility meets the BREEAM certification requirements.
Paweł Żeromski, Business Development Manager at GLP, said: “With the park now completed, we look forward to offering the remaining space to our customers, who can benefit from its high specification and best-in-class sustainability features.”
Magdalena Kowalewska joins LCP Properties
Magdalena Kowalewska has been appointed as the new Chief Operating Officer at LCP Properties Poland. Magdalena Kowalewska will also be tasked with managing and developing the M Park, M Emka and M Multipark brands on the Polish market.
“With the strengthening of the LCP Properties Poland team, I can proudly announce that we are on the right track to achieve our ambitious goal of €1 billion in value for our asset portfolio,” commented James Fife, CEO of LCP Properties Poland.
