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AFI EUROPE JOINS AS CO-INVESTOR OF THE TOWAROWA 22 PROJECT IN WARSAW
AFI Europe, an international investment group, is to buy shares in the Towarowa 22 project in Warsaw. AFI Europe and Echo Investment will jointly develop the commercial part of this complex. Echo Investment will independently be the investor of the residential part and the developer of the entire project.
“We are pleased to team up with Echo Investment in the development of such an important landmark project at the heart of Warsaw’s bustling city centre. We strongly believe in the Polish economy, and Towarowa 22 project will significantly increase the volume and scope of AFI Europe’s investments and operations in Poland,” says Avi Barzilay, CEO of AFI Europe.
“Towarowa 22 is the most attractive investment plot in Warsaw. We are glad to have found a reputable partner with whom we will create a well-designed city quarter. The idea of creating destinations, places that attract people, such as nearly located Warsaw Breweries, meets perfectly the needs of cities and their inhabitants. It is also attractive for tenants of offices and shops, future residents as well as investors,” says Nicklas Lindberg, CEO of Echo Investment.
BALTIC INVESTMENT PROPERTY DEALS SMASH THROUGH €1 BILLION CEILING
The real estate market in the Baltic countries saw record activity in 2021, with the total value of commercial investment transactions doubling from the year before to €1.5 billion. The highest-value deals were done in Latvia, the international real estate advisory firm Newsec in the Baltics reports.
Last year, Latvia had €610 million of transactions, Estonia €447 million, and Lithuania €444 million. The record results flowed from excess capital, global trends, and a positive mood in the market. Investors actively sought out properties, and only lack of supply prevented an even bigger investment deal total.
Neringa Rastenytė-Jančiūnienė, the Head of Capital Markets at Newsec in the Baltics, says the transaction volume of €1.5 billion is a record for the Baltic region. Not lowering that bar in 2022 will be important to keep foreign investors’ attention.
“Previously, investors were hesitant to come to the Baltics due to the small deal volume, which for the last several years stayed below the level of €800 million. Passing the €1 billion limit has broken a certain psychological barrier,” Rastenytė-Jančiūnienė explains.
International investors are most keen on properties in the logistics, office, and residential rental segments. Investors with private capital, meanwhile, are most interested in small retail buildings such as neighbourhood shopping centres and retail parks.
The office segment shows growth potential
Industrial real estate meets expectations
Retail is gradually recovering
Residential rental is a still-maturing but a very promising investment segment
INPOST AND VINTED LAUNCH EUROPEAN E-COMMERCE DELIVERY PARTNERSHIP
InPost Group, a leading European e-commerce delivery provider, has signed a five-year partnership agreement with Vinted, Europe’s largest online consumer-to-consumer marketplace dedicated to second-hand fashion, becoming one of Vinted’s shipping partners across Europe. The service will be provided under the InPost brand in the UK, Poland and Italy, and Mondial Relay in France, Belgium, the Netherlands, Portugal and Spain.
The agreement will leverage InPost’s extensive cross-border network of 35,000 out-of-home delivery sites, offering Vinted members an economical, convenient option that lets them receive their purchases at a time that suits them, rather than waiting at home to receive parcels.
“This is our first pan-European delivery partnership, involving all eight markets where we’re present, and we’re confident that this is just the beginning,” said InPost CEO Rafał Brzoska.
Vytautas Atkočaitis, Shipping Director at Vinted, said: “As a business focused on giving our members great choices about how to send and receive packages, with a particular focus on PUDO and locker options, we’re pleased to continue our successful partnership with InPost and Mondial Relais in multiple markets in Europe.”
LINCOLN PROPERTY COMPANY RESUMES OPERATIONS IN POLAND
Investor/developer Lincoln Property Company (LPC) has resumed its operations in Poland. Damian Grzywacz was appointed Managing Director of Lincoln Property Company in Poland following LPC’s acquisition of The Form in Warsaw last year and has been tasked with identifying further investment projects in the region.
“We have ambitious growth plans in various sectors of the real estate market in Poland. As one of the most attractive real estate markets in Europe, Poland is a natural place for us to expand our operations. We have ambitious growth plans in various sectors of the real estate market in Poland,” said Damian Grzywacz, Managing Director at Lincoln Property Company in Poland.
Lincoln Property Company’s first development project in Poland is The Form office building. It will be located in Warsaw’s Wola district. The building will offer nearly 31,000 sqm on nine storeys, including around 28,500 sqm of office space and 2,500 sqm for retail and service purposes. The development is scheduled to start in H2 2022. The completion is planned for H1 2024.
“Our ambition is for The Form to become a reference point for all office buildings in this part of Europe – both in terms of comfort of use, technological solutions, and ESG solutions. Our project will be WELL and LEED-certified and, first and foremost, it will also have the certificates of Net Zero Carbon, Active Score, and Air Rated”, said Damian Grzywacz.
Lincoln Property Company has chosen JLL, an international consultancy agency, as the exclusive agent responsible for the commercialization of the office and retail space of The Form project.