Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of Europaproperty.com.
Euro Real Estate acquires City Tower Vienna from Immofinanz
EURO REAL ESTATE has acquired the City Tower Vienna from IMMOFINANZ for €150 million. This acquisition is the largest in Austria’s office market to date in 2024. The transaction was brokered by EHL Investment Consulting.
Ralf Peter, Managing Director of EURO REAL ESTATE, commented on the transaction: “The acquisition of the City Tower Vienna underscores our commitment to sustainable and stable value investments in first-class properties.“
United Benefits Holding realised the acquisition through an individual mandate and will now support asset management as a local partner. Michael Klement, CEO of United Benefits Holding, said: “The tower is a landmark property we plan to develop with a top tenant into a green asset over the coming years. From deal sourcing to transaction and active asset management, this project is proof of concept for our integrated service portfolio.”
“The successful sale of the City Tower Vienna shows that we are making very good progress with our strategic sales programme. In line with our strategy, we plan to invest the proceeds in higher yielding retail and office properties to create additional value“, explained Radka Doehring, Member of the IMMOFINANZ Executive Board.
Bob W launches fourth aparthotel in Tallinn
Bob W, a tech-powered hospitality operator, has announced the launch of its fourth property in Tallinn. Positioned in a prime position for connectivity with excellent transport links, the aparthotel will provide employees of global companies with tech-led, sustainable short- and long-stay apartments, each incorporating the quality and service of a lifestyle hotel with the comforts of a real home.
Niko Karstikko, Co-founder & CEO of Bob W, said: “This new Bob W means Tallinn is one step closer to becoming an oasis for both digital nomads and international companies seeking best-in-class accommodation for their employees in the heart of Estonia’s capital city.”
The launch of this new property marks a major milestone for Bob W’s continued global expansion and comes after the opening of a new property in London last month.
CPIPG launches strategic partnership with Samsung Electronics to upgrade Warsaw Spire
CPI Property Group has formed a strategic partnership with Samsung Electronics Polska for the further development of Warsaw Spire. The first project to be developed by the domestic electronics market innovator for the skyscraper’s office space will be the introduction of the latest version of the b.IoT platform for managing and controlling the HVAC installations.
“Thanks to these solutions, the electricity consumption for the air conditioning and heating system has been minimised,” explained Marcin Jaworski, a Product Manager at Samsung Electronics.
“We are convinced that from the very moment that it comes into use, this innovative system will not only increase our tenants’ sense of comfort but will also have a positive impact on their cost management,” said Marcin Mędrzycki, the Head of the Asset Management Department at CPI Property Group.
