Coffee with Craig Show – daily CRE news covering the CEE region, Thursday, May 18, with Winston Norman, Editor and Chief of EuropaProperty.com.
Baltic Horizon Fund to sell Duetto I and II office buildings in Vilnius
Baltic Horizon Fund has signed an agreement with ECRE IV to sell the Duetto I and II office buildings in Vilnius. The sales price of the assets is approximately EUR 37 million, which is close to the latest valuation.
“We continue to implement the investment strategy of Baltic Horizon Fund. Taking into account economic cycles, financial markets and the opportunities provided by the development of capital cities, we shall reduce the financial obligations of the Fund and redirect investment flows towards the upgrade of the unique properties in the Fund’s portfolio,” commented Fund manager Tarmo Karotam.
Rejuvenated Park Atrium in Budapest welcomes DDB
Advertising agency DDB signed a lease contract with DEREIF Hungary to occupy 868 sqm of top-quality office space on the 4th floor of the Park Atrium office building from September 2023.
Hannes Wirnsberger, CEO of DDB Budapest pointed out: “Large open arrangements, functional collaboration areas and a unique design will characterize the new DDB Budapest office.”
Senior Manager Dominik Ewerz concluded on behalf of the Landlord, a property fund based in Luxemburg and managed by REInvest Asset Management: “The recent overhaul of our mechanical and electrical base systems, complete with the design upgrade of our common spaces, as well as the introduction of new building services and the constant care of our attentive Property Management, make Park Atrium more attractive as an office environment than ever before.”
Horizon Development’s Leasing Director Máté Bihari added: “I am confident that their new office will resonate with their core values and aesthetic preferences.”
Colliers strengthens investment services in Poland
Marek Paczuski has joined the ranks of Colliers experts, taking up the position of Senior Director in the Investment Services department. His many years of experience in the real estate industry will help to further increase the scale of Colliers’ operations in the Polish investment market and maximize profits for the company’s clients.
“The entire region of Central and Eastern Europe, especially Poland, which has been a leader in terms of investment volume for several years, is continually seen as an attractive location, both by tenants who are eager to locate their businesses here and by investors who are actively looking for profitable assets in various segments,” says Monika Rajska-Wolińska, CEO for Central and Eastern Europe, Colliers.