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Posts from CIJ Europe.com for 03/10/2016

Daily Commercial Real Estate News for CEE
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In this edition: 03/10/2016

Merko Ehitus to build Bauhaus store in Tallinn

Mar 10, 2016 12:05 pm
Merko Ehitus has signed a €7.6m contract to build a Bauhaus store in Tallinn’s Haabersti district. Construction is set to start this month, with completion scheduled for April 2017. The sales area will cover more than 14,000 sqm and the DIY chain plans to hire a staff of 130. In addition to the store, Merko Ehitus will also oversee utility works and the construction of...
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California State Teachers’ Retirement System partners with Panattoni in Poland

Mar 10, 2016 11:32 am
The Polish press is reporting that Panattoni Europe and the California State Teachers’ Retirement System (a major investment fund) have concluded an agreement on the creation of a JV on the Polish market to develop a new warehouse and logistic center. However, the developer has declined to comment on the reports, which are based on a filing by the two companies with...
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CEFC may invest into Kyselka spa near Karlovy Vary

Mar 10, 2016 11:18 am
The Chinese investment group CEFC is considering an investment into the Kyselka spa near Karlovy Vary in Western Bohemia, according to idnes.cz. Czech President Miloš Zeman broke the news, but said that the deal has not yet been confirmed. CEFC carried out a series of investments in the Czech Republic in 2015, including acquisition of Slavia football club, a stake in Czech...
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KSS starts production at its Kičevo plant

Mar 10, 2016 11:02 am
The Key Safety Systems (KSS) production plant in Kičevo, Macedonia, began operations on Wednesday. Macedonia's Economy Minister Bekim Neziri attended the official inauguration ceremony. The facility is located in the industrial zone of Kičevo and specializes in the cutting & sewing of airbag cushions. KSS is a global automotive company specialized in the system...
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First Sofia apartment building to receive BREEAM certificate

Mar 10, 2016 11:01 am
The first residential building in Sofia to receive a BREEAM certificate is Izgrev Residential, located in the eastern part of Sofia, in the Iztok neighborhood. Stephen George International was responsible for the architectural design, while the implementation of the project was overseen by Mirat Group. Construction work started a month ago and will be completed by the end...
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€3.9m investment planned for Botevgrad plant expansion

Mar 10, 2016 11:01 am
The plant for printed circuit boards in Botevgrad is expanding production with the construction of a new base. The company Integrated Micro-Electronics Bulgaria LTD will invest more than €3.9m in the project. The company's plans include the expansion and optimization of technological and logistics capacities of the Botevgrad facility, which will result in the...
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First phase of villa complex completed in northern Bucharest

Mar 10, 2016 11:01 am
The developer Atlantis Romania invested €3m in the project Omnis Residence Corbeanca, a 20-house complete in the north of Bucharest adjacent to the Buciumeanca Forest. Work on this project began in 2011 with infrastructure construction. CAMINO has been appointed exclusive agent of the project. Atlantis Romania plans to continue investing in the project, whose design calls...
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Skanska building Lidl headquarters in Baneasa

Mar 10, 2016 11:00 am
Lidl has started the construction of two office buildings in northern Bucharest, Baneasa, on land purchased by the company last year. The German retailer plans to move its headquarters to the new complex. The execution of the project will be carried out by Skanska Romania. Delivery time is May 2017. "Lidl's new headquarters will be located in the north of the...
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Harry Bannatyne named JLL's director of industrial for CEE

Mar 10, 2016 10:49 am
Harry Bannatyne was named lead director of industrial and logistics for Central and Eastern Europe at JLL. Bannatyne will be responsible for coordinating and promoting JLL’s industrial, logistics and supply chain capabilities across the CEE region, assisting both clients and end-users. He will also continue to head JLL’s industrial business in the Czech Republic. Bannatyne...
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Savills promotes Dorota Ejsmont to head of Polish Office department

Mar 10, 2016 10:45 am
Dorota Ejsmont has been promoted the new head of office department and tenant representation for Savills Warsaw, three years after joining the company. She has more than 17 years of experience on the Polish real estate market. Before joining Savills, back in 2013, Ejsmont worked for Capital Park, King Sturge and Maxon Nieruchomości, advising a number of Polish and foreign...
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Patrizia Immobilien acquires shopping center in Euskirchen

Mar 10, 2016 10:28 am
Patrizia Immobilien has acquired the Veybach Center in Euskirchen from Netherlands-based property company ESTAMA Real Estate Management. The parties have agreed to keep the sales price confidential. The three-storey shopping center was built in 2006 and offers a total rental area of 9,000 sqm as well as 340 parking spaces on two levels. The property is fully-let to anchor...
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Reico buying City Tower in Prague 4

Mar 10, 2016 10:28 am
PPF Real Estate is selling City Tower in Prague 4 Pankrác. Reico, a real estate fund of Česká spořitelna, offered the highest price for the tallest office building in Prague and the second tallest in the Czech Republic. Hospodářské noviny writes that Reico offered €180m for City Tower, which represents a yield of 5.4 percent. The transaction has not yet been closed. The...
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Neinver sales exceed €1bn in 2015

Mar 10, 2016 10:27 am
Neinver, a Spanish based real estate developer, ended 2015 with improved sales and footfall figures. For the year, total sales for all of its outlet centers operating under the The Style Outlets and FACTORY brands surpassed €1.056 billion, 10 percent more than in 2014. The company’s malls recorded 44.25 million visits, which was a 6 percent improvement on 2014. In...
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Bratislava airport to modernize old terminal

Mar 10, 2016 10:20 am
M.R. Štefánika Airport in Bratislava plans to reconstruct an old terminal that’s not currently in use. The terminal would be used to process VIP passengers and should also serve the country’s Foreign Ministry. Reconstruction is to be completed prior to Slovakia taking over the European Union presidency on July 1. The airport has begun clearing works and will launch a tender...
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Immofinanz sells 10 percent stake in Buwog

Mar 10, 2016 09:25 am
Immofinanz has completed the placement of 10 million ordinary shares in Buwog, in a transaction that represents approximately 10 percent of the company’s issued share capital. The selling price has been officially liste d as €17.10 per share, which represents a discount of 8.9 percent to Wednesday’s closing price of the shares. The deal generated total gross proceeds to...
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Endesa to supply power to Lisbon

Mar 10, 2016 08:52 am
Endesa has been contracted by Municipality of Lisbon to provide energy for a period of one year, including the needed energy for public lighting, traffic lights and billboards. The €8m contract was granted to Endesa and will allow the municipal electricity saving about half a million euros. Endesa has been active in Portugal's liberalized energy market since May 2002...
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Portuguese government decides in favor of Sines Port enlargement

Mar 10, 2016 08:52 am
The government of Portugal has decided to extend further the Sines Port container terminal, says the Minister of the Sea, Ana Paula Vitorino. Terminal XXI at the port is already being added to in work that's due to complete in June. Vitorino visited the ongoing work, an investment of €35m that will increase the terminal's capacity by 30 percent and improves its...
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Former president of Gaia City Hall under investigation

Mar 10, 2016 08:51 am
Luís Filipe Menezes, the former Mayor of Gaia, owns €5m in real estate assets which, according to authorities, cannot be explained based upon his reported income. The properties are listen in his family's name and have been the subject of a 2-year investigation. It emerged that the Judicial Police of Porto is investigating other alleged crimes, including corruption,...
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Arval leasing 1,300 sqm at Simonov Plaza

Mar 10, 2016 01:38 am
The financial services company Arval will occupy 1,300 sqm of office space at Simonov Plaza in the Simonovsky business district of Moscow. The 5-year lease was signed with City & Malls PFM with the participation of Knight Frank. Arval will occupy space on the fifth floor of the building, which provides panoramic views of the nearby Moskva River and the center of Moscow....
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Franklin Street chosen to managed Aventura View

Mar 09, 2016 06:41 pm
Franklin Street has been selected by COFE Properties to manage the Aventura View office tower in Aventura. The company will run the 107,304 square-foot office tower located at 2999 Northeast 191st Street. The 10 story property underwent a $3 million renovation before COFE picked up the asset in December 2015 for $40 million. Built in 1988 across the street from the Aventura...
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