Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, October 10, with Winston Norman, Editor and Chief of Europaproperty.com.
Fundraising for Mitiska REIM’s MEREP 3 value-add fund reaches €168 million
Mitiska REIM has announced that fundraising for its third flagship fund, MEREP 3, has now reached €168 million. MEREP 3 focuses on accelerating opportunities in convenience real estate across Europe, targeting food-anchored retail parks, last-mile urban logistics, multi-let light industrial and self-storage opportunities.
The fund has so far closed three investments. These include the acquisition of Europa Centralna, a retail park with a gross leasable area (GLA) of 67,000 sqm in Gliwice, Poland, and the joint venture with OPC to roll out retail parks in Slovakia.
Axel Despriet, Managing Partner at Mitiska REIM, adds: “The evidence from many past economic cycles has shown that volatility and times of high market stress can create opportunities for investors with the requisite market knowledge.”
Panattoni to build sites for automotive suppliers in Hungary
Panattoni Hungary has successfully secured a dual built-to-suit contract for 30,000 sqm from a top-tier German automotive supplier, to develop two manufacturing facilities in Debrecen and Kecskemét, respectively.
The Debrecen project will be a 13,700 sqm factory, with an anticipated handover by October 2024. The Kecskemét facility, spanning 16,600 sqm, will see its ground-breaking in October 2023, adhering to a similar completion and early access timeline.
The first phase of the Le Jardin residential park has secured a BREEAM ‘Very Good’ certification. This is the first such project to get this type of certification in Hungary.
Le Jardin will offer 164 flats in the 13th District of the Hungarian capital. The handover is scheduled for the second half of 2024. It was awarded a BREEAM New Construction Design Stage certificate with a “Very Good” level as it has all the major elements to be truly sustainable.
“The flats are constructed by using the latest technologies to comply with all modern environmental requirements” – said János Martin, deputy CEO of Wing.
Redport Capital to start new resi phase in Bucharest
Romanian developer Redport Capital will start the construction of the third phase of The Level Apartments complex in northern Bucharest. The company says it has already pre-sold 40 percent of the apartments in the new phase that will be completed following a €12 million investment.
The third phase of the project will include 105 apartments. The apartment buildings will be fitted with solar panels in a bid to reduce the cost of utilities for residents and to lower the carbon footprint of the development.
Cosmin Savu-Cristescu, Managing Director of Redport Capital, says the fourth phase of The Level Apartments project is expected to be launched by the end of next year and will include approximately 275 apartments, with an investment of €28 million.
Railway station part of Dekada Konin opens
A modern railway station which was built as part of the retail centre Dekada Konin has opened. The commercial part of the complex is scheduled for late October. The railway station is the result of the cooperation of the Polish State Railways, Dekada and Xcity Investment, a company belonging to the PKP Group.
“PKP is currently implementing the largest program in its history changing the face of railway stations,” says Krzysztof Golubiewski, Member of the Management Board of PKP.
“The opening of the new railway station, long-awaited by residents, is an important step in the modernization of the city,” says Przemysław Babczyński, President of the Management Board of Xcity Investment.
“Soon, both travellers and residents of Konin will also be able to take advantage of the rich commercial offer,” says Aleksander Walczak, president of the management board of Dekada.