Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of Europaproperty.com.
Solida Capital acquires Grójecka 5 office building in Warsaw
Solida Capital Europe has acquired the Grójecka 5 office building in Warsaw. This acquisition represents a pivotal opportunity to upgrade an existing office project by integrating cutting-edge property technology, prioritizing sustainability, and embracing rigorous Environmental, Social, and Governance (ESG) standards.
In conjunction with the acquisition, Solida Capital Europe is proud to unveil the new name for the office building: G5 Prime Offices.
“I’m excited to embark on this refurbishment project! Stay tuned as we transform this office building into a modern, dynamic space that will exceed expectations. At Solida, we are committed to keep innovating on new projects that can create more value for all stakeholders and essentially expand the office offer in a key location of the city,” says Joao Saracho, Managing Director of Solida Capital Europe.
EPP and Echo secure €145.2 million refinancing loan for Galeria Młociny
Asset Management Firm EPP and developer Echo Investment have secured a loan of €145.2 million for the new financing of Galeria Młociny shopping centre in Warsaw. The five-year financing was classified as being EU Taxonomy compliant.
Erste Bank Group AG, Rand Merchant Bank, a division of FirstRand Bank Limited (Republic of South Africa) and Santander Bank Polska acted as arrangers of the new credit facility.
“It was important for the banks that Galeria Młociny is a green asset that meets the criteria of the EU Taxonomy, and is compliant with the technical screening criteria to prove substantial contribution to climate adaptation,” said Jacek Bagiński, CFO at EPP.
“Galeria Młociny will help us achieve our sustainability goals: aligning our lending portfolio to meet net-zero emissions by 2050,” said Balazs Gal, Director at Erste Group Bank AG.
“RMB is thrilled to have assisted the EPP group in the funding of Galeria Młociny, an EU Taxonomy-compliant and BREEAM-certified shopping centre. This is in line with RMB’s commitment to advancing our clients’ sustainability strategies,” said Sashen Naidoo, Real Estate Finance Transactor at Rand Merchant Bank.
“We are happy that we had the opportunity to be a part of financing provided for Galeria Młociny as an Agent Bank of the consortium together with Erste Bank and Rand Merchant Bank,” added Bartłomiej Barej, Director of Property Finance at Santander Bank Polska.
Panattoni developing the 7th BTS project for K-FLEX
Panattoni is developing another BTS project for K-FLEX – an international manufacturer of insulation materials. A 7th building of 20,000 sqm in the warehousing and manufacturing complex in Uniejów will be completed in June this year.
“Ten years of Panattoni and K-FLEX working together has shown this to be an extraordinary partnership with 120,000 sqm of space delivered, seven buildings, growing production and logistics and above all a high level of trust and mutual understanding that has made the most ambitious projects possible,” says Marek Foryński, Managing Director of Panattoni BTS.
