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Posts from CIJ Europe.com for 03/09/2016

Daily Commercial Real Estate News for CEE
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In this edition: 03/09/2016

Małgorzata Gajuk to head Orbis CEE management portfolio

Mar 09, 2016 11:07 am
Małgorzata Gajuk joined Orbis Group to head the company’s managing portfolio for Poland and CEE markets. Before joining the hotel group, Gajuk worked for BNP Paribas, in the agency’s capital markets division where she was advising investment funds on their acquisition strategy within Central and Eastern Europe. She has 15 years of experience in the real estate market....
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Goodman strengthening CEE position

Mar 09, 2016 11:05 am
Goodman signed lease contracts on 1 million sqm of logistics space across Europe in the first half of the 2016 fiscal year. Work on 720,000 sqm of new logistics space is currently underway, including 544,000 sqm that was started in this period. Goodman’s CEE portfolio has increased by 35 percent to 944,000 sqm. The company has been most active in Poland, having increased...
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NSI: Bulgaria's GDP hits €44.11bn in 2015

Mar 09, 2016 11:04 am
Bulgaria's GDP increased to €44.11bn in 2015, up 3 percent from the previous year, according to data released by the National Statistical Institute (NSI). In Q4 2015, the country’s GDP exceeded €12bn, up 3 percent from the same quarter in 2014 and up 0.7 percent from Q3 2015. The industrial sector accounted for 27.6 percent of the growth seen in 2015, while...
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Bosnia invests €1.5m into airport upgrades

Mar 09, 2016 11:03 am
The Bosnian government is allocating more than €1.5m into the modernization and reconstruction of two of the biggest airports in the country. The majority of the funds, €1m, will be invested into building a new terminal, repairing the runways and acquiring new equipment at Tuzla Airport. The rest of the funds will go towards the purchase of new vehicles and equipment...
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Construction permits up in Macedonia by 11.5%

Mar 09, 2016 11:03 am
There were 263 construction permits issued in January in Macedonia, a 11.5-percent increase from the same month in the previous year, according to the State Statistical Office. Nearly 60 percent of the permits issued were for highrises, while 16 percent were for low-rise buildings and 25.1 percent were for reconstructions....
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Proinvest Group invests €10m to expand Pascani factory

Mar 09, 2016 11:02 am
Proinvest Group is investing €10m in a greenfield project in Pascani to expand its factory in the city. The first phase was delivered last month and includes the first production line of sandwich panels with mineral wool core for flat roofs and walls. It will have a production capacity of 1 million sqm per year. Costs are estimated at €3m. In the second phase of the...
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Atrium concentrates on Polish market

Mar 09, 2016 10:53 am
Having recently offloaded its Czech retail portfolio, Atrium Real Estate is shifting its focus on the Polish market. Scott Dwyer, CEO for the company’s Polish operations, said this week the country is now representing as much as 55 percent of Atrium’s portfolio. Worth €1.5bn, 24 projects brought in €100m in rental income last year, as a result of the company’s strategy to...
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CTP building accommodations at CTPark Bor

Mar 09, 2016 10:51 am
CTP has completed the construction of accommodations that will be made available to workers at CTPark Bor. The developer plans to add similar facilities at its other parks and to make other improvements that will benefit its tenants’ employees. The on-site accommodation offers 200 beds, and CTP is now building another facility of the same size, scheduled for completion in...
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New railway hub planned for Jaguar in Nitra

Mar 09, 2016 10:45 am
Jaguar Land Rover will use a new railway hub for its new Slovak manufacturing plant in Nitra. The hub is to be built in the northwest part of Priemyselny park Nitra Sever and is scheduled for completion in early 2018. A tender is currently underway by Slovak Railways for the contractor who will build the facility. The estimated costs are expected to run in the vicinity of...
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Geneba acquires distribution center portfolio

Mar 09, 2016 10:34 am
Geneba Properties has acquired a German light industrial portfolio from the local developer Metawerk. The price of the deal was not disclosed. The properties, totaling 38,979 sqm of space, are located in Leipzig, Chemnitz and Amberg. They are leased on a long-term basis to automotive suppliers and logistic enterprises. The portfolio was exclusively marketed by JLL. The...
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Altamira to complete 7,948 homes over the next three years

Mar 09, 2016 10:32 am
Altamira Asset Management has started construction on more than 5,850 homes on the Spanish market in the last three years and delivered 4,700 apartments in the last two years. The company is planning to deliver an additional 7,948 homes to the country’s resi market over the next three years. Altamira Asset Management also develops offices, industrial space, retail centers...
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Aktor teams up with Spiecapag on Trans Adriatic Pipeline

Mar 09, 2016 09:19 am
Aktor will be taking part in the construction of the first part of the Trans Adriatic Pipeline in Northern Greece through a consortium with the French-based contractor Spiecapag. Aktor is the construction arm of the Greek business group Ellaktor. The project will be completed within 2 years, but no data has yet been published about the size of the project....
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APPII and Michael Page promoting real estate employment, skills

Mar 09, 2016 09:16 am
The Portuguese Association of Promoters and Real Estate Investors (APPII) joined with Michael Page in a project that aims to promote employment in the real estate sector. Under the agreement, Page will share job listings from member companies of APPII. In addition, the two sides will jointly develop workshops and similar initiatives aimed at improving the skills of real...
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Sonae Sierra sells 25% of Sierra Portugal Fund to Madison

Mar 09, 2016 09:15 am
Sonae Sierra sold 25 percent of Sierra Portugal Fund to Madison International Realty. It will retain a 22.5 stake in the fund, however, and will continue to manage the nine shopping centers in it. The centers are 8ª Avenida, AlbufeiraShopping, ArrábidaShopping, GaiaShopping, LeiriaShopping, LoureShopping, Centro Comercial Continente de Portimão, RioSul Shopping e...
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Brisa renews bonds of €120m

Mar 09, 2016 09:14 am
BCR - Brisa Concessão Rodiviaria (Brisa Road Concession) has revealed that it will be issuing €120m in bonds. At the same time, it will reimburse bonds with the same nominal value ahead of schedule. "The bonds will be issued under its Euro Medium Term Note Programme, placed by private offering and will be requested their admission to trading on the regulated market...
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Cristiano Ronaldo to open hotels in Madeira and Lisbon

Mar 09, 2016 09:13 am
Cristiano Ronaldo will be opening two hotels in Portugal in partnership with the Pestana Group, following through on an announcement nine months ago of his intention to enter the hotel industry. One of the luxury hotels will be located in the Praça do Mar, Madeira, which is where the Portuguese football striker was born. The other will be in the Comércio street in Lisbon....
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New retail projects continue Tyumen's expansion

Mar 09, 2016 02:32 am
New retail projects continue Tyumen's expansion Two large shopping centers with a total of around 100,000 sqm will open in Tyumen this spring. Tyumen residents will get the 81,000 sqm Star City Mall to shop in as well as another Okay hypermarket (18,000 sqm). Market analysts point to the Tyumen region as one of the most quickly expanding retail markets in the country,...
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Boca Raton investors building new apartments in Davie

Mar 08, 2016 03:48 pm
A joint venture between the Boca Raton-based companies Giles Capital Group, Rosemurgy Properties, and FSG Holdings have started construction on a new apartment project in Davie. The project, PARC3400, will be a 259 unit complex located at 3400 Davie Road, a few blocks south of Interstate 595 and across from Broward College. The investor picked up the 8 acre site in 2014 for...
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Weston hotel in Ft Lauderdale acquired by Blackstone

Mar 08, 2016 03:43 pm
Blackstone Real Estate Partners VII LP, has purchased a Weston branded hotel for $10.2 million. The company picked up the 94 room TownePlace Suites Fort Lauderdale in Weston for just over $108,510 per key. The property was built and developed by Royal Palm Beach-based Pinnacle Management Company LLC. which acquired the land for the hotel in 2000 for $1.15 million. Located...
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Northland Investment buys West Palm Beach apartments for $120,920 per unit

Mar 08, 2016 03:41 pm
The Windward at the Villages apartments in West Palm Beach has changed hands for $23.7 million. The 196 unit garden-style apartment complex on Brandywine Road to Northland Windward was acquired by an affiliate of Newton, Massachusetts-based Northland Investment Corp. Trading for almost $120,920 per unit, the complex was built in 1988 on a 11.3 acre site. The seller, Rance...
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