Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of Europaproperty.com.
S IMMO sells Zagrebtower
S IMMO has signed the contract to sell the Zagrebtower to the OTP Group. The office building comprises a total net area of almost 26,000 m² and has a BREEAM International In-Use Excellent certificate. The transaction is expected to close in the third quarter of 2024, subject to the necessary regulatory approvals.
The disposal is in line with S IMMO’s adjusted strategy of gradually withdrawing from the Croatian market. Tomáš Salajka, member of S IMMO’s Management Board, comments: “We are pleased with this successful sale, which creates liquidity for investments in other core markets of S IMMO.”
Corwin secures €75,6 million loan for its second Ljubljana project
Development Financing for Vilharia, a modern office complex in Ljubljana was arranged by Erste Group, with Banka Sparkasse, Slovenia and EXIMBANKA SR as participating lenders. As one of the largest commercial loans in Ljubljana, it demonstrates the growing focus of the financial sector on ESG-compliant, sustainable projects.
“Vilharia has become the flagship project of Corwin in Ljubljana. With its LEED Platinum certification, net zero carbon ambition and EU Taxonomy compliance, it will set completely new standards for sustainable real estate in the region and become a hub of business in the new centre of the city,” said Robert Mitterpach, CFO Corwin.
“Vilharia will not only be the most modern complex in Slovenia but also serve as a trendsetter for green business in the country. That is why we are very proud to be at the helm of such a substantial syndicated loan for this project,” said Günther Artner, Head of Erste Group Commercial Real Estate.
“We believe in supporting projects that possess potential and are sustainable and Vilharia is such a case, that will not only thrive but will also make a meaningful social impact,” said Rastislav Podhorec, General Director of EXIMBANKA SR.
“Banka Sparkasse’s role as a participant and security agent in the financing of Vilharia underscores its commitment to fostering sustainable development and innovation in Ljubljana’s real estate landscape,” says Bojana Novak, Member of the Management Board of Banka Sparkasse.
International law firm selects V Tower office building as its Polish headquarters
The British law firm Clyde & Co has commenced operations in Poland and established its office in the V Tower building at Chmielna Street in Warsaw. The law firm has already acquired space on the 10th floor of the building, which Cornerstone Investment Management is renovating.
“Given Poland’s strong economy, which is expected to benefit from market maturity and growing recognition of our country’s attractiveness for new investments and projects, we are confident that we will be able to support and guide our clients through the Polish legal landscape,” says Arkadiusz Krasnodębski, Managing Partner at Clyde Krasnodębski & Partners.
“The agreement with Clyde & Co, which is commencing its operations in Poland, is evidence of the ongoing interest in the V Tower building,” says Przemysław Pikus, Partner at Cornerstone Investment Management.
Turawa Park expansion underway in Poland
The expansion of Turawa Park has now entered the construction phase, with the handover to the general contractor. The project has a total investment budget of €5.5 million. Focus Estate Fund the owner of Turawa Park announced the signing of four lease agreements, representing about 61 percent of the Gross Leasable Area (GLA). These agreements include well-known brands such as New Yorker, Martes Sport, DM and Forpepe House.
In support of this project, Focus Estate Fund has secured financing through a credit facility provided by BNP PARIBAS Bank.
Maxim Shkolnik, General Partner of Focus Estate Fund, expressed confidence in the project’s success, “We are confident that with the help of our partners from BNP Paribas Real Estate, Turawa Park will progress swiftly, bringing us closer to realizing our vision of a premier shopping destination that caters to the diverse needs of our customers”.
