Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, May 16, with Winston Norman, Editor and Chief of EuropaProperty.com.
CTP to invest €600 million in Poland and Germany
Warehouse and Logistics developer CTP has unveiled plans to invest €600 million to grow its warehouse portfolio in Germany and Poland.
The move, which will see €300 million invested in each country, aims to almost double the total GLA of industrial and logistics space in its portfolio with new developments through 2030, generating annual rental income of €1 billion across a 20 million sqm portfolio.
Remon Vos, CEO of CTP, said: “CTP sees huge potential for further growth in the industrial and logistics markets in Germany and Poland, as a combination of strong economic fundamentals, emerging global megatrends, such as the rise in nearshoring, growth in e-commerce, as well as key real estate market dynamics are continuing to drive demand for best-in-class sustainable warehouses in central and eastern Europe, as well as Germany.”
Griffin and Madison dispose of logistics asset
International Industrial Properties, a growing logistics platform focused on investing in industrial and logistics space in key European markets, owned by Madison International Realty and Griffin Capital Partners, has sold a single-let logistics property in Germany. This is the company’s second transaction in Germany, following its first portfolio sale in June 2022.
Nebil Senman, Co-Owner and Managing Partner at Griffin Capital Partners says: “We see Germany as a key market in our international expansion. After the multiple successes of our pure Polish logistics platform – ELI, we have decided to expand our operations to other European markets and have acquired multiple logistics developments in Germany, France, the Netherlands, Austria, Italy and Spain.”
UniPack to remain at Peakside – Logistics Point Piaseczno
UniPack has renegotiated a lease agreement for space in Peakside – Logistics Point Piaseczno. The cooperation included the contracting of more than 5,000 sqm of space. JLL Poland supported the tenant in the transaction process.
”Peakside – Logistics Point Piaseczno is an excellent space that fits in with our company’s strategy. Conveniently located near major roads, it provides us with the ability to rapidly deliver to our customers,” says Konrad Stanisz, Chief Operating Officer of UniPack Maciejko
pbb holds course in a difficult market environment
Deutsche Pfandbriefbank reported it is on course for a profit before taxes of €170 to €200 million for the current financial year. pbb also reports the Bank’s profit before taxes in the first quarter of the current financial year was €32 million, following €42 million in the same period last year.
CEO Andreas Arndt, said. “Our capital buffer is very adequate for what is currently a difficult market situation. Even though commercial real estate markets are in a challenging position, our loss allowance remains stable. We expect markets to calm down by the end of the year, and are looking forward to seizing growth opportunities at the right time.”