ARTICLES LABELLED WITH TAG office

Skanska invests €50 million in the second phase of Generation Park, an office project located in Warsaw, Poland. The second building, with a total leasable area of about 18,300 square meters, will comprise 16 stories above ground and two stories of underground parking. The investment will also include four underground parking levels for the planned third building.

Catalyst Capital, a European real estate investment and fund management firm, has bought Nobilis Business House from Echo Investment for €44 million. The building, located on Marii Skłodowskiej-Curie Street in Wrocław, was completed in late 2016.

In 2017 the large number of office projects delivered across Poland filled up quickly as occupier demand remained robust. Traditional drivers of demand were joined by emerging trends that are shaping the future of the office market and commercial real estate as a whole. Bolesław Kołodziejczyk, Phd, Head of Research & Advisory at Cresa Poland analysed the Polish office market.

Spaces, a global concept from the Netherlands and offering solutions from the area of flexible workplaces and co-working, has leased 4,200 sqm of office space in Centrum Marszałkowska. As a consequence, Warsaw will become the brand’s first location in Poland. Experts from JLL advised Spaces on the process of negotiating lease terms. Baker & McKenzie supported the company in all legal aspects. The developer of Centrum Marszałkowska - BBI Development - was represented by CBRE and Markowska - Materla law firm.

Berlin Hyp and Erste Group Bank have jointly provided Immofinanz a five year secured loan in the amount of €205 million. The syndicate is providing Immofinanz a “one stop” portfolio-refinancing for their office portfolio in Warsaw and is thus replacing seven existing, individual real estate loans. Agent for this transaction is Berlin Hyp.

Skanska has sold phase I of Nowy Rynek, an office building within a mixed-use project in Poznań, Poland, for €73 million. The buyer is confidential. The transaction will be recorded by Skanska Commercial Development Europe in the fourth quarter 2017. The transfer of the property is scheduled for the second quarter 2019.

Ghelamco has finalised the sale of Przystanek mBank, a build-to-suit office complex in the New Center of Łódź. The transaction led by companies from the Ghelamco Group included a long-term investor LCN Capital Partners and mBank. The value of the transaction is approximately €60 million.

Immofinanz refinanced approximately €1.6 billion of financial liabilities during the 2017 financial year. This volume represents roughly 60% of the group’s financial liabilities as of 30 September 2017 and covers extensions as well as new borrowings. The transactions will reduce future interest expense by roughly €18.3 million per year.

AFI Europe Romania has signed a financing agreement for €22 million with Bank Leumi Romania for the development of phase 1 of AFI Tech Park, the newest business park the company is currently developing in Bucharest.

Globalworth announced that is has acquired a 67.90% of the issued share capital of Griffin Premium Real Estate, a Dutch entity listed on the Warsaw Stock Exchange.