Join Craig Smith and Winston Norman on the Coffee with Craig Show for your daily dose of CRE news in the CEE region, brought to you by EuropaProperty.com.
CPIPG sells half of Vulcanion portfolio in Poland
CPIPG and its subsidiaries, CPI FIM SA and Czech Property Investments are going to sell a 50 percent equity stake in Vulcanion for €250 million to Sona Asset Management.
Vulcanion owns eleven office properties in Warsaw and two retail assets in Elbląg and Lublin, Poland. The portfolio’s gross asset value is about €1 billion; three of the office properties will remain encumbered by a green loan from Aareal Bank which matures in 2028.
CPIPG was advised on structuring and ratings matters by Barclays, Société Générale and KingsRock Advisors. Dentons served as CPIPG’s legal advisor.
Nrep sells Finnish urban logistics portfolio for €135 million
Nordic real estate investor Nrep announced the disposal of a Finnish urban logistics portfolio to funds managed by Blackstone. The portfolio comprises 22 warehouse properties with a total leasable area of 133,000 sqm. 80 percent of the properties are located in the Helsinki metropolitan area.
“Key to our investment strategy from the outset was finding a partner with a customer-oriented approach and the ability to implement sustainability-driven asset management initiatives,” comments Joonas Lemström, Head of Nrep Finland.
“Finland is one of our key logistics markets in the Nordics, especially Helsinki, where we continue to see low vacancy levels and strong demand for warehouse space,” comments James Seppala, Head of Real Estate Europe, Blackstone.
Infogroup delivers 15,000 sqm warehouse in Kecskemét
Infogroup has completed a new industrial hall spanning 15,000 sqm in IGPark Kecskemét South. The build-to-suit hall was developed for international automotive supplier MOBIS.
”We are confident that the operation of this building will have a positive impact not only for Mobis but also for the local economy,” said Balázs Czifra, Director of Sales and Asset Management at Infogroup.
