Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of EuropaProperty.com.
Mitiska REIM opens 10th Karuzela retail park in Poland
Mitiska REIM has opened a new food-anchored retail park in the Polish city of Świebodzin. Developed in partnership with Karuzela Holding, this is the tenth project undertaken by Mitiska and Karuzela over the past five years, with five more developments planned to open over the next two years.
Designed to achieve a “Very Good” score on the BREEAM scale, the retail park is food-anchored by a Lidl supermarket and brings new brands to the city such as Sinsay, Cropp, House, CCC, Jysk, SMYK and Tedi. Other tenants include Pepco, Kik, Media Expert and Martes Sport.
Janusz Botorek, Member of the Board of Karuzela Holding, comments: “This Świebodzin development is a classic example of our convenience real estate approach in Poland.”
Magdalena Bednarczyk, Investment Associate in Mitiska REIM’s Polish team, adds: “The retail park proposition of convenience, essential shopping and value for money continues to be very attractive in Poland for retailers and shoppers alike.”
Sylvie Geuten-Carpentier, Managing Partner of Mitiska REIM, adds: “This latest opening continues our very successful partnership with Karuzela which has seen us create over the past five years a portfolio of assets across Poland representing a total GLA of 105,900 sqm.”
BIG Poland acquires Park Glinianka near Warsaw
BIG Poland is expanding its presence in the Polish retail market. In line with its investment strategy in Poland, the company has added Park Glinianka in the southern suburbs of Warsaw to its portfolio of retail parks, acquiring it from Redkom Development.
“This is a truly extraordinary facility that we believe will set the trends of retail park development for the coming years. Additionally, a great location and a very attractive offer of shops and services make Park Glinianka a perfect fit for our development strategy,” says Eran Levy, BIG Poland CEO
“The new owner has extensive experience managing large, vibrant retail parks, I know that Glinianka with its clients and tenants are in good hands,” says Łukasz Komierowski, president of REDKOM Development.
Baltisse and Straco acquire a majority stake in Speedwell
Straco Real Estate and Baltisse have acquired a majority stake in SPEEDWELL, a real estate developer based in Romania. This move solidifies Baltisse and Straco’s commitment to expanding their presence in Eastern Europe. SPEEDWELL wants to spend around €1.5 billion on acquisitions in Poland in the coming years.
“This partnership marks an exciting new chapter for SPEEDWELL. Straco Real Estate and Baltisse bring invaluable resources and strategic insight that will accelerate our growth trajectory while maintaining our unwavering commitment to excellence,” said Jan Demeyere, Co-founder of Speedwell.
Didier Balcaen, Co-founder of SPEEDWELL, echoed these sentiments, stating: “Together, we are poised to capitalize on emerging opportunities in the region and drive sustainable value for our stakeholders. Key targets for acquisition are spread over different asset classes, such as residential for sale, PRS, PBSA, offices and industrial, both in Warsaw and regional cities.”
“We are thrilled to partner with SPEEDWELL, a company known for its innovation and commitment to excellence. This acquisition aligns with our strategic objectives of expanding our presence in Eastern Europe and underscores our confidence in the region’s long-term growth potential,” said Alex De Witte, CEO at Baltisse Real Estate.
“SPEEDWELL’s established track record and strong leadership team make them an ideal partner as we enter the Polish market. Together, we look forward to unlocking new opportunities and delivering exceptional value to our stakeholders,” added Carl-Philip de Villegas, Managing Partner at Straco Real Estate.
EBRD supports the expansion of Serbian automotive lighting manufacturer
The European Bank for Reconstruction and Development (EBRD) is extending a €15 million loan to Feka Automotive (Feka), a Serbia-based producer of automotive lighting. Feka, which has supply contracts with leading international car manufacturers such as Toyota, Volkswagen and Stellantis, will use the funds to improve its overall efficiency and increase the availability of reliable lighting devices to customers.
The EBRD loan will help Feka, a subsidiary of Turkish Feka Otomotiv A.S., to construct a new energy-efficient production facility adjacent to its principal production facility in central Serbia. The funds will also be used for the acquisition of rooftop solar panels and the installation of new state-of-the-art, energy-efficient production lines and equipment.
