Coffee with Craig Show – daily CRE news covering the CEE region, Friday, September 22, with Winston Norman, Editor and Chief of EuropaProperty.com.
Partners Group and Peakside secure prime last mile location in Warsaw
Partners Group and Peakside Capital Advisors have completed the purchase of a 5 ha plot in Okęcie, Warsaw. This exceptional last-mile location, situated near the Chopin Airport, has been earmarked for a sustainable warehouse development dedicated to urban logistics.
Lucas Krupp, Member of Management, Private Real Estate, Partners Group says: “This JV reflects Partners Group’s strong conviction in the last-mile and big box logistics sectors across Europe.”
Roman Skowroński, Managing Director, Peakside Capital Advisors in Poland adds: “The combination of prime locations and a focus on sustainable solutions is crucial in our pursuit of ambitious projects that promise to deliver significant returns and investment value”.
GLP acquires a logistics property in Gdańsk
GLP acquired an 11,500 sqm logistics centre located in Gdańsk. The project was delivered by 7R in 2021 and is currently used by leading FMCG and grocery brands.
The transaction has strengthened GLP’s position in the Tri-City region, where the company has already developed 200,000 sqm of advanced warehouse and production space at the Pomeranian Logistics Centre. This is situated close to the Gdańsk’s deep-water container terminal, now known as the Baltic Hub, formerly called DTC Gdańsk.
Marek Jandous, Investments and Asset Management Director CEE at GLP Europe comments: “The acquisition of this property strengthens our presence in the Gdańsk region and complements our existing logistics portfolio.”
Structure completed at CTP’s latest Romanian park
CTP has completed the structure of its latest production and logistics project, CTPark Arad West. This latest scheme is heralded as an important industrial centre and transportation hub, close to both the Hungarian and Serbian borders. The first phase of CTPark Arad West comprises 44,000 sqm and is already over 40 percent pre-leased, and is scheduled for completion in the first quarter of 2024.
Ana Dumitrache, Managing Director of CTP Romania, said: ”CTPark Arad West is the ideal city centre solution for both manufacturing and storage requirements, enabling businesses to grow within a single location, and with easy access to multiple transport connections.”
Investment volume in Romania reaches €181 million in H1 2023
The investment market in Romania reached €181 million in H1 2023, down by 43 percent compared to the same period of last year, according to Cushman & Wakefield Echinox.
In terms of deal volumes, the largest share was held by the industrial & logistics sector (37 percent), followed by office (32 percent), retail (21 percent) and hotels (10 percent).
During H1, the biggest transaction was CTP’s acquisition of FM Logistics Portfolio for €60 million. The second biggest deal was Vincit Union’s acquisition of One Herastrau Office in Bucharest for €21 million. Then there is Yellow Tree’s purchase of the Olympia Tower office building in Bucharest for €15 million.
“If the key market parameters such as rents, occupancy rates, and sales remain in positive territory, we expect the transactional activity to resume its growth in the next 6 to 12 months,” says Cristi Moga, Head of Capital Markets at Cushman & Wakefield Echinox.