Coffee with Craig Show – daily CRE news covering the CEE region in Panattoni Cafe with Publisher Craig Smith and Winston Norman, Editor & Chief of Europaproperty.com.
The Dot Group completes acquisition of CRM Students becoming the largest student housing operator in Europe
The Dot Group, a global leader in student living, announced the closing of its acquisition of the CRM Students Ltd group of companies (“CRM Students”) from CORESTATE Capital Holdings S.A.
CRM Students will become a part of the broader Dot Group, operating as a white-label solution alongside Yugo, the global student-branded operator. The acquisition extends Dot’s global footprint into four new European markets of Austria, Italy, Poland and Portugal, embeds continued growth in Germany and Spain, while significantly expanding its UK presence.
Nicholas Porter, CEO of The Dot Group, said: “The transaction supports our strategic expansion into existing and key new markets, allowing us to embed our expertise across Europe to deliver performance and efficiency for investors in the student housing sector.”
Richard Skeels, CEO of CRM Students, said: “This is a fantastic opportunity for CRM Students, as we look forward to joining The Dot Group, a truly global pioneer across student living. On closing this transaction, it is clear our teams are strategically aligned with our customers and stakeholders benefiting from greater access and experience as CRM Students continues its growth journey.”
Slovak developer enters German market
JTRE has established a German branch and has announced its first project in the central Berlin location. JTRE’s first project will be in the emerging Europacity modern district. Groundwork will begin this May and base building construction will start at the end of the summer. The project is scheduled for completion in 2027.
“Europacity is a large project in the central Berlin-Mitte district between the Main Railway Station and historic Nordhafen harbour, near the government quarter. This long-disused brownfield site will be transformed into a new urban district for 16,500 residents. Covering 40 hectares in a prime area, this project’s wide range of services and multi-functionality will make this a high-profile project for all of Berlin,” says Lukáš Sásik, director of international operations at JTRE.
Prime Kapital opens shopping mall in Pitești
Real estate developer Prime Kapital has opened Argeș Mall, a new shopping centre spanning 77,000 sqm in Pitești. The mall is the biggest in Argeș County and in the South-Muntenia region and was completed following an investment of more than €100 million.
The project features over 140 stores and a food court area spanning 3,500 sqm. The retail anchor of the mall is Carrefour. This will be the biggest retail delivery in the Romanian market in 2024, according to market specialists.
Availability of prime offices in central Warsaw shrinks
According to the latest report published by Newmark Polska, the Warsaw office market is entering a period of an increased focus on repurposing and refurbishing office buildings. As office availability in central Warsaw declined in the first quarter of 2024, occupiers’ interest shifted towards non-central locations. Development activity remained stable but relatively weak, with a significant concentration of new office projects in central zones, which accounted for nearly 90 percent of the total office stock under construction.
“The coming years are likely to see upgrading and repurposing gather momentum, with demolition of older buildings expected to make way for new office builds. It is also worth emphasising that refurbishment is also an excellent opportunity to improve the energy efficiency of an office building in line with the standards resulting from EU regulations. The result is lower energy consumption that will reduce both environmental impact and service charges for tenants”, says Agnieszka Giermakowska, Research & Advisory Director, ESG Lead, Newmark Polska.