ARTICLES LABELLED WITH TAG HB Reavis

The handover of the second office building one month ahead of schedule completed the construction of the West Station scheme next to the Warszawa Zachodnia station. With an area of 38,000 sqm, the new building is one of the largest built in Warsaw this year. More companies have just shown their appreciation for its offices by leasing over 8,300 sqm of space.

HB Reavis has completed the issue of a new series of its PLN 500 million bond programme established for the Polish market, raising €51.9 million (PLN 220 million). This latest issue represents not only the largest tranche in the history of the HB Reavis Group but also the largest bond issue achieved by a commercial real estate developer in Poland this year.

HB Reavis has started the construction of the Stanica Nivy project in Bratislava. The Nivy Tower office building is the first to be built and is destined to become a landmark with the highest point reaching 125 metres.  The remaining construction of the scheme, which will include a new supra regional shopping centre, a modern marketplace and international bus terminal, will be launched in the summer.

HB Reavis has gained planning consent for its next new major development, Agora Budapest, situated next to city’s busiest boulevard and the Váci Road office corridor. Construction on the first building called Agora Hub has already commenced. Agora Budapest will be built in several phases and will comprise more than 136,000 sqm of modern office spaces and retail units by 2023. The project will require an investment of approximately HUF140 billion (€447 million).

HB Reavis announced that construction has commenced on Varso Place, its flagship development in Warsaw’s city centre. Plans for the 140,000 sqm mixed-use scheme include one of Europe’s tallest towers and two mid-rise buildings. Completion is scheduled for 2020.

Aviva Investors and LaSalle Investment Management have acquired River Garden II & III in Prague, on behalf of the Pan-European Fund Encore+ for €84 million. River Garden II & III, developed by HB Reavis is Class A office building with ground floor retail, located in the Karlin district of Prague. This is the first acquisition that Encore+ has made in the Czech Republic.

HB Reavis has sold Twin City A, a modern office building located in close proximity to Bratislava city centre in Slovakia, to Prvý realitný fund (PRF), managed by IAD Investments with a transaction yield of 6.5%. The building, located in the Mlynske Nivy business district of Bratislava, was completed in 2015 and offers approximately 16,500 sqm of leasable space, which is fully let to a number of tenants, including PWC, Merck Sharp & Dohme, Bayer, BNP Paribas Slovensko and Sfera.

HB Reavis has appointed George Leslie as its new Head of Investment Management. In this new role, Leslie will lead and grow HB Reavis’ Investment Management business and support the company’s international expansion plans. 

On 1 December 2016, international real estate developer HB Reavis and Savills Investment Management on behalf of a Global Pension Fund client, concluded the sale agreement of two of buildings within Gdanski Business Centre in Warsaw. In one of the largest transactions of the year in Poland and also in the CEE region amounting to €186 million, Savills Investment Management has acquired buildings A and B of the Gdanski Business Center, totalling 48,000 sqm.

Panalpina Polska, an air and sea freight company, leased a 630 sqm office in the West Station I building. A team of BNP Paribas Real Estate Poland experts advised the tenant during the negotiation process with HB Reavis. Panalpina Polska will be moving in the first quarter of 2017 and taking up space on the 12th floor of the building.