Coffee with Craig Show – daily CRE news covering the CEE region, Friday, May 13 with Winston Norman, Editor and Chief of EuropaProperty.com.
CTP ACQUIRES LAND AND CONSTRUCTION PROJECTS ACROSS POLAND FROM 7R
CTP Group, a developer and manager of high quality industrial and logistics real estate, has acquired a portfolio of development land sites in Poland, including two construction projects, from Polish industrial and logistics developer 7R. The sites are located across the country and offer about 1.2 million sqm in GLA development potential.
Bogi Gabrovic, Deputy Country Head for CTP Poland, said: “The land and project acquisitions from 7R demonstrate CTP’s long-term commitment to the Polish market. In line with our strategy, and when the time is right, this transaction offers the potential to significantly increase the size of our operational footprint in central Europe’s largest economy.”
Piotr Flugel, Country Construction Director for CTP Poland, said: The strategically located land sites acquired by CTP from 7R, which are mostly in and around Warsaw and the Upper Silesia region, benefit from strong surrounding infrastructure and are well prepared for development.”
PAREF ACQUIRES BROWAR LUBICZ OFFICE IN KRAKÓW
Paris-based asset manager Paref Gestion has acquired the Browar Lubicz office complex in Kraków from Balmoral Properties.
Browar Lubicz is a complex of three renovated historic buildings with a total area of around 7,500 sqm. The revitalisation of the buildings of the former Goetz brewery, close to the main railway station just outside the city’s Old Town, was completed in 2016. Tenants include UK internet service provider CentralNic and a Swedish games developer.
“This property complex is fully in line with the responsible investment strategy that Paref Gestion intends to deploy in its funds. Moreover, Kraków is one of the most dynamic cities in Poland and remains an active destination for foreign capital despite the conflict in neighbouring Ukraine”, said Anne Schwartz, the managing director of Paref Gestion.
HSBC Bank provided financing for the acquisition.
GENERAL CONTRACTOR FOR MDC2 PARK GLIWICE SELECTED
MDC2 – a developer of sustainable warehouse and industrial space operating on the Polish market – announced it has appointed the general contractor, Rex-Bud Budownictwo for the project, MDC2 Park Gliwice.
MDC2 Park Gliwice, a sustainable distribution and logistics park located in Upper Silesia, will provide over 57,000 sqm of speculative industrial space to the market. Based on the conditions of the general contractor’s agreement, the project will target to become the highest point-scoring BREEAM New Construction Excellent building ever to be built in Poland.
“Bearing in mind an increasing demand for a sustainable logistics space we are very pleased to be working with Rex-Bud on the construction of our speculative development in Gliwice,” said Jeremy Cordery, COO and founder of MDC2.
The Upper Silesia industrial market saw the fourth largest leasing activity amongst Poland regions in Q4, 2021 according to JLL and the vacancy levels went down to 4.99 percent in the same period.
KARUZELA PUŁAWY RETAIL CENTRE OPENS
Belgian real estate fund manager Mitiska REIM and Polish developer Karuzela Holding have opened a retail park in Puławy, in eastern Poland, following the conversion of a former Tesco hypermarket on the site.
Karuzela Puławy, comprises 14,100 sqm GLA with 20 retail units.Tenants include grocery anchor Netto, Action, Jysk, Kik, Tedi, CCC and Media Expert.
The retail park has been developed on behalf of the First Retail International 2 fund (FRI 2) in a joint venture with Karuzela Holding, while financing has been provided by mBank.
“By spotting the opportunity to repurpose an existing hypermarket, we have been able to take advantage of the existing zoning and trading history of the site to create a new convenience retail centre for both the city and the surrounding area”, commented Grzegorz Pekalski, a board member of Karuzela Holding
Mitiska REIM and Karuzela Holding have a current portfolio in Poland of five standing assets and eight development projects, with a combined 160,000 sqm GLA. This year, two more development projects are scheduled to open – in Wągrowiec and Kołobrzeg.
SCALLIER DEVELOPING NEW FACILITIES AND EXPANDING LAND BANK IN ROMANIA
This year Scallier plans to open retail parks in Turda, Timisoara and Vaslui with a GLA volume of over 40,000 sqm. In 2023, new facilities are planned to be opened in the cities of Mosnita, Arad, Ploiesti, Otopeni, Ovidiu and Reghin.
In total, over the next several months, Scallier’s portfolio in Romania will include 11 retail parks with a total leasable area of over 90,000 sqm. At the same time, the company is working on the expansion of the land bank to develop further commercial properties in the Romanian market. All retail parks developed by Scallier are subject to BREEAM certification.
“Retail parks implemented by us in Romania perfectly fill the market gap – the lack of modern commercial real estate in many medium and small cities,” says Adrian Aleman, Development Director of Scallier in Romania.
“Our goal is to create places that will be commercial destinations for local residents for a long time,” says Wojciech Jurga, Managing Partner at Scallier.
