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.
Vectr Realty acquires The Landmark office building in Bucharest
Vectr Realty, a subsidiary of Vectr Holdings, has purchased The Landmark office project in Bucharest from Revetas Capital and affiliates of Cerberus Capital Management. The office complex comprises three buildings with a combined leasable area of 23,700 sqm.
“This transaction follows our recent acquisitions of Padova Agriculture and Contara, and demonstrates our strong commitment to the Romanian market,” said Chintan Surana, Group CEO of Vectr Holdings.
Vectr Holdings is engaged in various sectors including agricultural operations, agricultural machinery distribution, fitness, and real estate in Romania through its verticals Vectr Farms, Agroconcept, World Class and Vectr Realty.
LifeSpot Secures Additional Capital for PRS Platform Expansion
LifeSpot, a rental housing platform in Poland managed by Ares Management and Griffin Capital Partners, has secured further investment to expand its portfolio. Launched in 2021, LifeSpot currently manages around 1,400 units with an additional 1,800 under construction. The new funding will support the acquisition and construction of approximately 2,500 units in major cities like Warsaw, Kraków, Gdańsk, and Wrocław. This expansion aims to address Poland’s significant housing deficit, with the total portfolio expected to reach 6,000 units in the next 1-3 years.
William Twemlow of Ares Management praised LifeSpot’s rapid growth and impact on affordable housing. Marek Obuchowicz from Griffin Capital Partners highlighted the potential of Poland’s PRS market, noting the high demand and structural housing deficit. This expansion will strengthen LifeSpot’s position as a key player in Poland’s rental housing sector.
Panattoni Launches Warehouse Park in Silesia
Panattoni has commenced construction of Panattoni Park Bieruń I, a 20,000 sqm warehouse park in Silesia, scheduled for completion in February 2025. The park, strategically located near major transport routes, has already secured Sport-Shop.pl as its first tenant, occupying 13,000 sqm.
Tomasz Sikora of Panattoni emphasized the park’s strategic location and potential to attract diverse industries. Sport-Shop.pl, an e-commerce sports retailer, will use the new space to optimize its distribution operations. The park will feature 27 loading docks, customizable office space, and sustainability features, aiming for BREEAM Excellent certification.
Newmark Polska facilitated the leasing process, ensuring the new location met Sport-Shop.pl’s requirements and easing the transition for its employees.
