Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of EuropaProperty.com.
Lion’s Head enters Bulgaria’s industrial market with €71 million deal
Lion’s Head, a joint venture company between AG Capital and Old Mutual Property, has acquired BPD – a logistics and industrial properties investment company. This is the biggest deal in the sector for the last years with an investment of €71.4 million.
With this transaction, AG Capital enters a new commercial property class for the group and becomes the second-largest owner of industrial properties in Bulgaria. The purchase was realized with an investment by the International Finance Corporation (IFC) – part of the World Bank and financing by UniCredit Bulbank. The legal advisor for the transaction is Wolf Theiss Bulgaria.
“The acquisition of BPD is a significant achievement for the Lion’s Head team and marks the beginning of our ambitious plan for regional expansion of our portfolio in a new business sector and new markets – Bulgaria, Romania and Poland“, says Tanya Kosseva-Boshova, Managing Director at Lion’s Head.
Genesis Property buys land in western Bucharest
Genesis Property has purchased a 30,000 sqm land plot from Stizo Invest. The purchase consolidates the developer’s position in western Bucharest, where it owns an office business park and a private student accommodation project.
“The year has started well, with significant transactions announced across various stages of finalization. We’re witnessing the sale of portfolios such as CPI/Immofinanz’s Rocar and Iride, alongside other portfolios, mostly consisting of residential land, from players who have too much stock and need to unlock or focus on certain projects in the advanced stage”, explains Sînziana Oprea, Director Land Agency at Colliers Romania.
Moving forward, the focus will be on mixed-use projects, through securing strategically located platforms at competitive prices or attractive transaction structures.
EPP to manage M1 shopping centres and Power Parks in Poland
EPP is managing nine M1 shopping centres and three Power Parks from Metro Properties Polska. The company plans to develop the properties through leasing activities and space rearrangements and upgrades.
“The M1 shopping centres and Power Parks are a diverse portfolio of properties with a long-standing presence on the market. We aim to develop the potential of these assets by strengthening their offer and enriching it with new, attractive tenants”, says Tomasz Trzósło, CEO at EPP.
“Despite their many years on the market, these are centres with high BREEAM certification ratings, consistently upgraded over the years and managed to the best ESG standards. I believe that EPP will successfully develop their potential on the commercial map of the country,” says Renata Kinde-Czyż, CEO at Metro Properties Polska.
18 Gym Fitness & Beauty expands in Arad
18 Gym Fitness & Beauty, Romania’s third-largest health & fitness network, will open within Agora Arad through a transaction brokered by Cushman & Wakefield Echinox. The new 18 Gym Fitness & Beauty location is the first unit in Arad and the 37th club in the network.
Agora Arad, with an area of 36,000 sqm, is undergoing a significant refurbishment and refitting process. Raluca Zlate, Consultant Retail Agency Cushman & Wakefield Echinox, said: “Once the refurbishment works are completed, the project will bring back modern spaces to the market, meeting all the necessary conditions needed to accommodate a wide range of retailers for the benefit of the local community”.
18 Gym Fitness & Beauty is present in 14 cities with 36 health & fitness clubs. The goal for 2024 is to open another 10 locations, thus exceeding the 40-club threshold in Romania.
