ARTICLES LABELLED WITH TAG investment

Local real estate developer One United Properties has acquired an office building recently completed in the Aviation area of Bucharest. The new owner paid €15 million to local construction company Conarg for the project, profit.ro reported. One United hopes to rent it and increase its value to €21-22 million within a year.

Prologis is expanding its Hungarian portfolio with the acquisition of 13 hectares in the Budapest logistics market. Modesta Real Estate facilitated the transaction.

Accolade is entering Gorzów Wielkopolski with a project worth nearly €47 million. The first stage of construction of the new BREEM certified industrial park will be completed next month. Lease agreements have already been signed by Logoplaste and Omnipack.

Solid economic fundamentals will be instrumental in the fast rebuilding of asset values in Poland. If they are not weakened by the country’s overregulation and fiscal policy, and the government temporarily helps entrepreneurs maintain liquidity, investor confidence in most commercial real estate sectors should fully recover by the end of this year, says Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland.

Czech real estate group Českomoravská Nemovitostní (ČMN) has completed the €74.5 million (CZK 2 billion) acquisition of two office buildings, City West C1 and C2 in Prague's Stodůlky area. The seller is Luxembourg-registered Capital Financial Holdings (CFH). Raiffeisenbank provided financing for the acquisition.

S Immo has reportedly pulled out of the negotiations with developer Skanska for the nearly €100 million acquisition of the Campus 6.2 and 6.3 office buildings in Bucharest, due to COVID-19, profit.ro reports.

New Work, a CEE-based flexible office space provider, launches its Series C capital increase. Its business focus will be on the development of services that address the challenges of the COVID-19 pandemic.

Aurec Capital Poland has acquired three residential buildings in Warsaw’s Praga Północ district with the intention of redeveloping them. 150 rental apartments and retail units will be built under the LivUp PRS brand. The redevelopment project is planned to be completed in early 2022.

DSV, a global supplier of transport and logistics services, has closed the sell-and-lease-back transaction with French investor, Corum Asset Management, for the new DSV International Shared Service Centre in Warsaw’s Mokotow Business District. The total leasable area (GLA) of the project is 20,000 sqm. Cushman & Wakefield advised the seller.

London-based investor Grosvenor’s Indirect Investment team has expanded its portfolio in the logistics sector with a move into Poland. Grosvenor is the cornerstone investor of Polish Logistics LLP, a new investment vehicle established by IO Asset Management, the specialist manager of industrial real estate, and Reino Capital, a real estate holding company listed on the Warsaw Stock Exchange. Polish Logistics LLP has acquired Logistic City in the established logistics location of Piotrków, south of Łódź, from a private investor.