ARTICLES LABELLED WITH TAG office

Last year, in a landmark deal, CPI Property Group has acquired 11 CEE retail assets from funds managed by CBRE Global Investors. Country Manager Mátyás Gereben talked to us about the company’s future plans for Hungary and revealed what’s in store for the five assets – shopping centres Pólus and Campona, the Andrássy Complex and two Interpsar stores – that were added to CPI’s Hungarian portfolio as a result of the €650 million deal.

MCAP Global Finance, the London-based subsidiary of global investment manager Marathon Asset Management, has acquired the Népliget Center office building in Budapest on behalf of its funds and managed accounts. The transaction price has not been disclosed. The buyer was advised by Lodge & Partners, which will oversee the local asset management of the building.

From its handover in January 2018, Cushman & Wakefield has been assigned with the property management of the 15,647 sqm Váci Greens D office building developed by Atenor.

Microsoft has launched a tender to consolidate its Bucharest offices in a new location. The company is looking for 20,000 sqm of modern office space and is willing to pay around €3 million a year for rent, zf.ro reports citing market sources.

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.