Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, June 29 with Winston Norman, Editor and Chief of EuropaProperty.com.
Immofinanz announces strategy update
IMMOFINANZ presented an updated strategy following the majority takeover by CPI Property Group. The company plans to continue its value-creating growth strategy with a strong focus on retail properties and office solutions. As part of active portfolio management, properties with a value of approximately €1 billion will be sold and the proceeds invested in higher-yielding assets. The successful course of the company will be continued on IMMOFINANZ’s robust financial base together with the strengthening of ESG activities. IMMOFINANZ will benefit from pursuing this strategy through close cooperation with the CPI Property Group and the related synergy effects.
“With STOP SHOP, VIVO! and myhive, we have first-rate, innovative brands and real estate solutions to optimally meet the wishes and requirements of our tenants and customers. Our goal is now to further expand this strong position,” explained Radka Doehring, member of the Executive Board of IMMOFINANZ.
The company’s growth course will be supported by a robust financial base. The focus for new financing in the current market environment will be placed, above all, on long-term bank financing.
The Executive Board expects to announce more detailed guidance on the expected development of business in the financial year 2022 in the second half of this year.
CA Immo records good demand for premium office space in Prague
CA Immo records strong tenant demand for its high-quality Premium Prague office buildings at River City Prague campus: With three new leases comprising total office space of approx. 4,700 sqm signed, the two office buildings Mississippi House and Missouri Park, which have been completed in summer 2021, are fully let. During the first five months of 2022, CA Immo closed 18 lease transactions in total in its seven office properties in Prague, mostly new leases and expansions, representing nearly 16,200 sqm of modern office space.
Václav Jonáš, Managing Director of CA Immo Prague, comments: “This confirms our claim to offer office space that is significantly “better than home” and where people love to work. Against the backdrop of hybrid working, demographic changes and the ongoing shortage of skilled workers, we see that companies increasingly see high-quality office space as a value and an important component of their business model. In our view, the future of the office lies in the premium segment.”
The tenants in the new buildings include the international consulting company ADASTRA, a cybersecurity software company SentinelOne, law firm Allen & Overy and international law firm Bird&Bird. The largest leasing transactions finalized by CA Immo in Prague this year so far are two new lease agreements covering around 5,700 sqm of office space in Nile House. All CA Immo office buildings in Prague have been awarded a LEED or DGNB sustainability certification.
CTP delivers 35,000 sqm warehouse near Bucharest
CTP has delivered a built-to-suit warehouse spanning 35,000 sqm in CTPark Mogoșoaia, near Bucharest, for pharmacy chain A&D Pharma – Dr Max Group.
The new warehouse is the largest one for a pharmaceutical company that has been delivered in Romania to date, according to the developer.
“With an investment of over €30 million, the new National Logistic Center is a state-of-art project, being the first semi-automatic collection line on the pharmaceutical distribution and one of the largest pharmaceutical warehouses in Central and Eastern Europe,” said Cezar Zaharia, CEO A&D Pharma Dr Max Group.
CTP’s portfolio in the Bucharest region covers 1.5 million sqm, while its national projects span over 2.1 million sqm.
A new warehouse and office for Heilind in Silesia
Heilind, a global distributor of connectors, relays and terminal blocks, has leased around 4,000 sqm of warehouse and office space in Hillwood Mysłowice. The lease transaction was brokered by Cushman & Wakefield.
“Hillwood Mysłowice, which enjoys easy access to Poland’s main national roads, is a prime location for transport to Polish and international markets,” comments Konrad Jacewicz, Associate, Industrial & Logistics Agency, Cushman & Wakefield.
“Upper Silesia is the second-largest and most important logistics market in Poland, just after Warsaw. It saw close to 1.2 million sqm of modern industrial and warehouse space leased in the whole of 2021. Benefiting from its prime location and road connections, Silesia is attracting strong levels of interest from retailers and manufacturers, as well as logistics, automotive and e-commerce companies,” says Magdalena Ostrowska, Leasing Manager, Hillwood Polska.
