Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, August 09, with Winston Norman, Editor and Chief of EuropaProperty.com.
REICO acquires manufacturing asset in Poland
REICO ČS LONG LEASE, managed by REICO IS ČS is acquiring the APS consumer battery manufacturing site located in Gniezno, Poland. The value of the fund’s new acquisition is about €20.4 million.
The battery production centre of APS, which was the subject of this sale and lease back transaction, consists of two production and two interconnected warehouses. The total leasable area of the facility is over 24,000 sqm and is fully occupied.
REICO CS LONG LEASE bought the property from APS, a portfolio company of the Aurelius European Opportunities Fund IV. CMS, Arcadis, TPA and Knight Frank represented the buyer in the transaction.
“Acquisition of the APS production facility represents a significant increase in property holdings and sector diversification of the REICO ČS LONG LEASE fund. APS is an industry leader and a stable and financially sound business partner. The acquisition will improve rental growth prospects and will thus significantly contribute to achieving the fund’s investment strategy”, says Tomáš Jandík, Chairman of the Board of Directors at REICO IS ČS.
Marvipol sells PRS project in Warsaw to Heimstaden
Greenberg Traurig advised Marvipol Development on the block sale of rental apartments in the first stage of Moko Botanika to the Heimstaden Bostad Group.
Moko Botanika is a modern residential development comprising 477 residential and 6 commercial units, situated in the Służewiec area of Warsaw. It was designed entirely by the architectural studio Kuryłowicz & Associates.
“We are very pleased to have advised the Marvipol Group on transactions in the PRS sector, which continues to attract institutional investors focused on the private rental segment,” said Jolanta Nowakowska-Zimoch, Managing Partner of the Warsaw office of Greenberg Traurig.
The Czech investment volume for the first half of 2022 totals €1.15 billion
Thanks to strong activity in Q1, total investment volume for the first half of 2022 increased by 60 percent year-on-year and totalled €1.15 billion. The largest transaction of the quarter was Adventum’s acquisition of a portfolio of commercial properties anchored by Tesco stores. The value of the part of the portfolio located in the Czech Republic reached €50-70 million. Adventum was represented by Savills in the acquisition.
Lenka Pechová, the Senior Research Analyst at Savills CZ&SK, says: “Total transaction volume in the first half of 2022 was largely led by domestic investors who acquired properties worth more than €607 million (53 percent of total H1 volume), followed by European buyers at 36 percent.”
Vojtěch Wolf, Director, Investment Analyst at Savills CZ&SK, comments on the outlook: “Looking ahead, total investment volume in 2022 is not projected to exceed the €2 billion value and prime yields are expected to slightly further increase by year-end across all segments. The retail sector may face the biggest risk as households feel the pinch on real disposable incomes caused by inflation, which will negatively affect spending behaviour.”
Speedwell sells a large stake in the Miro office building to Hili Properties
SPEEDWELL has finalised an agreement with Hili Properties for the sale of 75 percent of the shareholding in Baneasa Real Estate, the owner of the MIRO office building in the Baneasa area. The remaining 25 percent shareholding will remain in SPEEDWELL’s ownership for a further two years. The MIRO building was delivered at the end of 2021.
“This transaction once again proves that a quality asset always attracts a quality buyer, not in the least because it attracts high-quality tenants,” said Didier Balcaen, CEO and Co-Founder of SPEEDWELL.
George Kakouras, Managing Director of Hili Properties, said: “Miro presents us with a solid, long-term investment and perfectly fits our strategy to build on the potential of assets for the benefit of our shareholders, tenants and the local community.”
MIRO was developed with a focus on the well-being of its occupants and on sustainability, as evidenced by its BREEAM “Excellent” and WELL “Platinum” certifications. It has an extensive list of reputable tenants including KPMG, COS, and Eaton.
