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MNK PARTNERS BUYS NC3 OFFICE BUILDING IN WARSAW
French asset management company MNK Partners has added the NC3 building in Warsaw to its MNK One portfolio. The office building is located in the city’s Służewiec business district.
NC3 is an office building completed in 2015. It has seven floors above ground with a total leasable area of 6,500 sqm.
“NC3 is the second investment of the MNK One fund in Poland. The functionality of this facility and a large number of parking spaces make it attractive and meet the needs of demanding tenants. We are pleased that this high-quality building has become part of our portfolio,” commented Małgorzata Cieślak-Belgy, investment director of MNK Partners.
MNK Partners Group, which has offices in Paris, Luxembourg and Warsaw, specialises in pan-European real estate investments with a high-value potential for French and international clients. It currently employs 20 people in three European offices and manages assets worth almost €400 million.
DEVELIA AND HILLWOOD TO DEVELOP WAREHOUSE COMPLEX NEAR WROCŁAW
Develia has signed a letter of intent on a joint venture with Hillwood Polska to jointly invest in a property located in Malina near Wrocław, involving the construction of a logistics centre with an area of around 400,000 sqm of GLA. The estimated value of the entire project will exceed PLN 1.5 billion.
The project will draw on the experience of both companies, but the operational management will be carried out by the Hillwood team.
“Establishing cooperation with Hillwood Polska in order to build a logistics park on our land in Malina is another element of Develia’s strategy. We are striving to maximize the value as part of the divestment of the asset that the company bought in 2007, and the letter of intent is the first step in this direction. In addition to the income from the sale of land, Develia will have a share in the profits from this project, which should be completed by 2029,” says Andrzej Oślizło, president of Develia.
“The implementation of the project in Malina is a step towards expanding our offer in the vicinity of Wrocław. Our successes in conducting projects in the joint venture formula will allow us to optimize the results of both partners,” says Hubert Michalak, President of Hillwood Polska.
PANATTONI COMPLETES PROJECT FOR K-FLEX AND BEGINS WORK ON 33,000 SQM EXTENSION
Panattoni has just completed its fifth project for K-Flex in central Poland. The developer also signed a new contract for the development of an extension of K-Flex’s production campus. This will be its sixth building and will have an area of 33,000 sqm. The total area of K-Flex’s facilities in Uniejów will thus reach 100,000 sqm. This will allow the company, a leading producer of thermal and acoustic insulation materials, to service the growing needs of its construction clients in Europe, Asia and the USA.
The project is being developed to obtain BREEAM certification at the ‘Excellent’ level.
“We are very pleased that K-Flex has once again put its trust in Panattoni. In our eight years of cooperation, we have delivered almost 66,000 sqm of both production and warehouse space for our client in Uniejów,” says Marek Foryński, BTS Director of Panattoni.
Real estate business confidence and expectations of profitability have dropped to a low level, reflecting widespread industry concerns across an array of indicators for the business, political and real...