Coffee with Craig Show – daily CRE news covering the CEE region, Friday, June 2, with Winston Norman, Editor and Chief of EuropaProperty.com.
Investor interest in Poland’s student accommodation sector soars
In response to growing investor interest, BONARD, a residential research and advisory firm, organized PBSA Property Tour in Poland, in collaboration with the tour’s general partner 1 Asset Management.
The Property Tour showcased a selection of PBSA and co-living assets in three key Polish cities – Warsaw, Wroclaw, and Krakow. The event drew participation from investors, including Invesco, Harrison Street, Heimstaden, Interland, and Forestay.
Commenting on the event, John German, Managing Director of Alternative Investments at Invesco Real Estate stated, “We are impressed by the growth potential of the Polish real estate sector, particularly in the student accommodation space.”
“With investor interest reaching new heights, Poland’s real estate market continues to position itself as an attractive investment destination, particularly in the thriving PBSA sector,” says Ernestas Kazbaras, CEO of 1 Asset Management.
Warsaw Property Partners rebranded to Catella Poland
Catella Poland has started the next chapter as an investment manager in the Polish real estate market. By being integrated with the Catella Group (“Catella”), Catella Poland broadens its offering in supporting investment strategies of Polish and International clients.
In 2022, Catella acquired the majority in the Polish company Warsaw Property Partners (“WPP”), which manages real estate assets of over €170 million.
“Poland is a key strategic market for us, and through our Polish operations, we have ambitious plans and see potential property development opportunities and significant investment management synergies across the group,” says Christoffer Abramson, CEO and President of Catella Group.
“With Catella’s European reach and capital, we can now present a broader offering to present and future clients,” says Jacek Wachowicz, CEO of Catella Poland.
East Capital acquires StokOfiss U30 in Riga
East Capital Real Estate Fund IV has acquired StokOfiss U30, a multifunctional commercial building from developer Hepsor in Riga. The anchor tenant of the property is the international cosmetics retailer, Douglas, which will use it as a last-mile distribution hub.
“Stock office properties cater to a new fast-growing segment, popular among small and midsize companies who want to be in easily accessible intracity locations while, at the same time, combining office, warehouse and retail/showroom areas,” says Albin Rosengren, Partner and Head of Real Estate, East Capital Group.
“We are proud that we have succeeded in developing an attractive commercial building that offers good returns to both us as sellers and to the East Capital Group as an experienced commercial real estate manager,” says Henri Laks, Hepsor AS Management board member.
Aareal Bank to enhance MLP Group’s financial stability
MLP Group has finalised a transaction with Aareal Bank AG of Germany, whereby the Bank has agreed to lend more than €63.5 million. The proceeds will be used to refinance the Group’s existing loan liabilities incurred for the MLP Poznań West project. In addition, they will be used to finance further new projects of the MLP Group. The term of the loan agreement is five years.
“We are very pleased to have established a relationship with Aareal Bank AG, another banking institution from Germany that looks favourably upon our business model”, said Monika Dobosz, CFO of MLP Group S.A.
MLP Poznań West is a distribution centre, comprising more than 140,000 sqm of warehouse space located on the western side of Poznań. The centre is targeted primarily at tenants from the e-commerce, logistics, distribution and light industrial manufacturing industries.