Coffee with Craig Show – daily CRE news covering the CEE region with Craig Smith, Founder and Publisher of EuropaProperty.com and Winston Norman, Editor and Chief of EuropaProperty.com.
S IMMO AG sells Eurocenter in Zagreb
S IMMO has sold Eurocenter office building in Zagreb, Croatia. In addition to offices, the Eurocenter also includes a bank branch and a café and has a gross lettable area of around 9,000 sqm. The transaction of the centrally located office building with an asset value of EUR 26.5m to buyer Atlantic Grupa was carried out by way of a share deal.
Through the sale, S IMMO makes use of the positive momentum on the Zagreb market due to Croatia’s entry into the Euro-zone earlier this year and the favourable timing concerning the life cycle of the property, which is fully let and technically well-maintained.
Herwig Teufelsdorfer, Member of the Management Board, comments: ” The transaction is in line with our adjusted strategy and generates liquidity for investments in other core markets of S IMMO.”
Galeria Tarnovia in Tarnów gets a new owner
Galeria Tarnovia has been bought by a London-based European investment company. The mall was commissioned in 2009 and offers around 17,000 sqm of GLA with 60 shops. The facility was developed by TK Development. The new investor plans to optimise the facility by increasing commercial space and new retail, service and cultural offers.
The Cushman & Wakefield team will take care of the commercialization and strategic consulting of the gallery. “Galeria Tarnovia has a great potential to expand its tenant portfolio so that the centre can respond even better to the needs of its customers”, said Michał Masztakowski, Head of Retail Agency Poland, Cushman & Wakefield.
Charles Irvine Group and ARC Capital Markets form strategic alliance
Charles Irvine Group and ARC Capital Markets have announced a strategic alliance. The collaboration combines the strengths of the two firms to provide clients with access to a broader base of investors and lenders.
David Cunnington, Founder of Charles Irvine Group, said: “By joining forces, we are creating a powerhouse of expertise that will enhance our capabilities in serving clients with top-tier advisory services in the capital markets arena.”
Neil Gregory-Eaves, co-managing Partner of ARC Capital Markets, said: “Together, we bring clients a wealth of equity raising and debt advisory experience that enables us to collectively offer a comprehensive suite of capital markets solutions.”
Marcus Schulte becomes chief financial officer at pbb
Marcus Schulte, a member of the Management Board of Deutsche Pfandbriefbank, has been appointed Chief Financial Officer. He will take over this function from Andreas Arndt, who previously held the roles of both Chief Executive Officer and Chief Financial Officer. As reported, Andreas Arndt will retire at the end of February 2024 and hand over the position of Chief Executive Officer to Kay Wolf, formerly of Deutsche Bank. Marcus Schulte has been a member of the Management Board since 2019. He joined pbb as Senior General Manager at the beginning of 2017 from Credit Suisse.
Regesta pursues growth plan in Poland
REGESTA, a rapidly growing logistics services provider, will lease 21,700 sqm of warehouse space in Panattoni Park Zgierz. Its central warehouse will support its four existing warehouses across Poland, with another two under construction. The tenant was advised on the transaction by Newmark Polska.
“We effectively pursue our growth plan in Poland. Following our successes in northern and southern Poland, we decided to start operations in central Poland. This will open up new opportunities for us and act as a link for our operations in Silesia, Tricity and Krajków,” says Marcin Szostak, COO of REGESTA S.A.
“Availability of a large unit for almost immediate occupancy in a prime location was a big plus for our client,” says Jakub Kaczorek, Leasing Manager, Panattoni.