ARTICLES LABELLED WITH TAG Wroclaw

Via a subsidiary, TAG Immobilien AG signed an investment agreement to acquire 100% of the shares in Vantage Development S.A. with a simultaneous carve-out of its commercial real estate business which will be repurchased by the selling shareholders. The total transaction consideration amounts to c. €131 million, of which c. €46 million relate to the commercial real estate business unit. As a result, the total net consideration for TAG amounts to c. €85 million for the residential business and platform of Vantage Development.

Prologis is expending Building 2 of Prologis Park Wrocław V with 16,500 square meters. The new investment is specifically tailored for two companies with very different backgrounds, but working towards the same goal: effective storage and distribution, both in the local market of Lower Silesia and across Poland.

ATAL SA – a Polish developer – selected Knight Frank as its exclusive agent to commercialize the Krakowska 35 office property in Wrocław. The consultancy will also manage the property. The edifice with a total area of ca. 14,000 sqm will be handed over for use in Q1 2021.

Wrocław is one of the most rapidly developing business centres in Poland and the third largest office market in the country. The city's office supply at the end of the first half of 2019 was 1.1 million sqm. The attractiveness of the Wrocław market is luring many employees from other cities, and as a result, up to 75% of specialists in Wrocław's business services sector are from outside the city, according to JLL.

Resi4Rent, the first institutional privately-run platform of apartments for rent in Poland, has been granted a use permit to its first building at Rychtalska street in Wrocław. Fitting-out works of apartments are in progress and soon residents will move into the building.

MLP Group is set to build a second logistics park in the Wrocław area. The MLP Wrocław West project will deliver a total of 70,000 sqm of modern space, the first handovers slated for October 2020.

Skanska has sold two office buildings in Poland – Nowy Targ in Wroclaw and High5ive in Krakow –to real estate funds managed by Credit Suisse Asset Management Global Real Estate.

Globalworth confirms the closing of the acquisition of two office buildings in Poland for a total transaction value of €113 million. Retro Office House in Wroclaw and Silesia Star in Katowice offer over 50,000 sqm of modern office space, and through the companies present in these properties add approximately 10,000 new employees and visitors to Globalworth’s Polish portfolio community, which is now 110,000 strong on a daily basis.

In Wrocław, Panattoni Europe has completed phase one of City Logistics Wrocław I, with 36,700 sqm built and fully leased, and as of August works are starting on phase two – to deliver an additional 25,000 sqm. The facility tailored to the needs of tenants seeking small units will be ready in Q1 2020.

Prologis has begun construction of two build-to-suit (BTS) facilities totalling 40,000 square meters in Prologis Park Wrocław IV.