Coffee with Craig Show – daily CRE news covering the CEE region, Monday, July 18 with Winston Norman, Editor and Chief of EuropaProperty.com.
Mitiska REIM announced the first close at €137 million of its third flagship fund, Mitiska European Real Estate Partners 3 (MEREP 3), giving the fund over €270 million in immediate investment capacity. In line with Mitiska REIM’s ESG strategy and its 2035 net zero carbon ambition, MEREP 3 will seek to deliver future-proof sustainable assets, aiming for “Very Good” to “Excellent” BREEAM ratings at the asset level and a GRESB rating on the fund.
PAD-RES, a leading Polish developer in the clean energy asset space owned by Griffin Capital Partners, Kajima Europe, and Mariusz Adamczewski, has secured construction and investment financing for the photovoltaic farm which has a total capacity of 35 megawatts (MW) of renewable energy. The construction of the PV farm, which covers an area of 45 hectares, started in April 2022. Financing for the investment comes from a loan agreement signed with Santander Bank Polska and BNP Paribas Bank Polska.
Avison Young successfully mediated the disposal of two Budapest CBD architecturally significant assets on behalf of a US family office. Bathory Street 12 and Herzog Villa at Andrássy Avenue 93 are two fully leased single-tenanted office buildings enjoying prime locations within Budapest CBD.
The first Marriott Hotels in Brașov will open in the mixed-use scheme Urban Plaza which will include apartments, offices and commercial areas. The new hotel will have 161 rooms and will be operated under a franchise agreement.