Coffee with Craig Show – daily CRE news covering the CEE region, Monday, May 8, with Winston Norman, Editor and Chief of EuropaProperty.com.
Panattoni sells BTS in Uniejów to LCN Capital Partners
Panattoni has finalized the sale of a 33,000 sqm logistics centre in Uniejów, developed on a build-to-suit basis. LCN Capital Partners has acquired its fourth facility within the K-Flex manufacturing campus from Panattoni.
“The combination of quality real estate and the potential for further growth makes the facility an attractive investment, which is why we decided to continue to invest in K-Flex,” says Ward Stocker from LCN Capital Partners.
Paweł Piasecki, Executive Director, Panattoni BTS adds: “This deal confirms a strong interest in BTS buildings leased to one tenant over a long term. It also confirms the attractiveness of investment structures where all the commercial terms are pre-agreed and known in advance, especially in current turbulent times in the financial markets”.
CA Immo sells Vizivaros Office Center in Budapest
CA Immo has successfully closed the sale of the Vizivaros Office Center in Budapest. The project comprises around 14,200 sqm of total lettable space and was 96% let with an annual gross rental income of around €2.5 million. The buyer is a real estate fund managed by FLE GmbH.
Keegan Viscius, CIO of CA Immo said: “This successful sale in Budapest is another step in our capital rotation programme where we seek to divest assets with no strategic fit in our long-term portfolio while improving our portfolio and cash flow quality.”
CBRE Hungary acted as the exclusive financial and real estate advisor in the sale process.
VIA Outlets brand sales rise 20 percent in Q1 2023 across Europe
VIA Outlets recorded a 20 percent increase in brand sales across its 11 European fashion outlet centres in the first quarter of 2023, driven mainly by a post-pandemic resurgence in tourism, multiple new brand openings and higher net spending per visitor.
Total footfall rose by 13.3 percent in Q1 and guest spending per visit jumped 21.4 percent between January to March this year, up 6.2 percent on Q1 2022.
VIA Outlet’s portfolio is valued at about €1.8 billion. Total brand sales across the outlet centre portfolio was a record €1.2 billion in 2022.
Otto Ambagtsheer, CEO of VIA Outlets, said: “This year has, so far, been notable for the continuation of the resurgence in brand sales we saw during the fourth quarter of 2022. It’s clear that the rapid recovery has been supported by the competitive prices our guests can find in our outlets, particularly during periods of economic downturn.”
Revetas Group appoints new Senior Advisor
Revetas Group announced a new strategic partnership with Edgar Rosenmayr, who joined the Revetas team as Senior Advisor. He will bring strategic support for Revetas with ongoing fundraising and transaction advice and will work closely with Senior Management and the Investment Management team.
Edgar Rosenmayr declares: “I am thrilled about my new partnership with Revetas Capital, a team that upholds the highest ethical and sustainability standards and sets high-quality benchmarks for its groundbreaking investments. I have faith that our joint efforts will bring about strategic and competitive advantages for our investors.”
Eric Assimakopoulos, Founding Partner at Revetas Capital, added: “We are very pleased with this strategic partnership with Edgar Rosenmayr. His extensive institutional investments background coupled with international experience across continents constitutes a key addition to our team.”