Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, April 12, with Winston Norman, Editor and Chief of EuropaProperty.com.
Nepi Rockcastle raises €143 million equity and concludes €200 million secured green financing
NEPI Rockcastle has raised the equivalent of €143 million equity from its latest scrip dividend. As a result, NEPI Rockcastle’s share capital will increase and its capital base strengthened for future investment and growth.
The Group has also completed a secured green financing of €200 million for a 5-year term with Erste Group Bank AG and Raiffeisen Bank SA. This is in line with the Group’s strategy to access different sources of funding and strengthen its relationships with banking partners.
Eliza Predoiu, CFO, said “The €200 million green financing enhanced our liquidity position and proved once again our long-term commitment to sustainability. A big ‘thank you’ to all the parties involved, making this successful project happen.”
Rüdiger Dany, the CEO, said: “The scrip dividend take-up equivalent of €143 million is a strong endorsement of the Company’s business strategy and confidence in our future prospects..”
Panattoni receives €67 million in financing from PKO Bank Polski
Panattoni has been granted €67 million to construct a building as part of Panattoni Park Poznań A2. The development is to be handed over in October this year with the entire area of 82,000 sqm to be leased by a giant from the clothing industry.
”Panattoni has once again demonstrated that it enjoys great confidence from financial institutions. The banks can see the rising potential of the warehouse space market, the fastest-growing segment of the real estate industry” says Karina Trojańska, Chief Financing & Operating Officer at Panattoni.
“This development combines a very good location with the highest ESG standards, which are to be attested to by BREEAM certification, thus making it a perfect fit for our green project financing strategy,” says Agata Gola, the Commercial Real Estate Financing Director in the Real Estate Construction and Financing Department at PKO Bank Polski.
The Echo-Archicom Group with a strong cash position and ambitious pipeline
The Echo-Archicom Group closed 2022 with a strong cash position and further reduced the net debt of the company. This is the result of the sale of seven office buildings worth nearly EUR 320 million. In 2022, the Group generated a net profit of PLN 127 million attributable to shareholders of the parent company, which was mainly the outcome of handing over to customers 2,168 apartments for sale and rent built by Echo Investment and Archicom, as well as an increase in the value of office buildings and apartments for rent.
“As always, we are focused on maintaining a stable financial position of our Group and following a prudent financial policy. Recently, we presented the Towarowa 22 project in Warsaw, which we will build together with our partner AFI Europe. We plan to start construction of the first office building already this year,” says Maciej Drozd, CFO of Echo Investment.
36,000 sqm of warehouse space for MCG Eastbridge near Krakow
MCG EastBridge will lease nearly 37,000 sqm of the warehouse at GLP Kraków Logistics Centre III. The investment near Krakow is expected to strengthen the image of the newly established MCG EastBridge brand and provide a central base of operations for Southern and Eastern Europe.
MCG EastBridge is a new brand in the portfolio of Maszoński Logistic, which has been providing comprehensive transport and logistics services in the European Union countries for more than 25 years.
Miroslaw Maszoński, Chairman of Maszoński Logistic explains: “MCG EastBridge is the next stage of building awareness towards the entities centred around Maszoński Logistic. We will take advantage of Maszoński Logistic’s long-standing know-how in the field of freight forwarding, transportation services, and handling international contracts for new markets.”
AXI IMMO was the exclusive advisor in selecting and leasing the strategic location. Marta Nowik, Director, Industrial and Logistics, AXI IMMO, comments: “The new location of developer GLP is a hotspot not only for the Krakow region but also for the entire area of southeastern Poland.”
Jaroslaw Czechowicz, Country Manager, GLP Poland, says: “The proximity to a metropolitan area of 1.5 million people, a modern road network, and the presence in the region of companies that are leaders in their industries make it a natural place for GLP to further expand in the region.”