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Posts from CIJ Europe.com for 04/04/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/04/2016

Nordica to begin regular flights from Tallinn to Vienna

Apr 04, 2016 11:58 am
The Estonian carrier Nordica is rolling out a new route between Tallinn and Vienna, which it will be operating five times per week in cooperation with Adria Airways. “We are pleased to further expand flight connection to Estonia together with Nordica,” said Julian Jäger, Member of the Management Board of Flughafen Wien AG. “Tallinn is the former European Capital of Culture,...
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Sensata Technologies to open factory near Plovdiv

Apr 04, 2016 11:00 am
Sensata Technologies, which producers sensors for the automotive industry, is investing more than €35m to build a new facility near Plovdiv. “We chose the industrial zone Maritza for our second major investment in Bulgaria because of its excellent geo-location and well-developed infrastructure,” the American company said in a statement. The plant will go up on an 6,800...
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Funding for Winter Sports Palace Sofia reinvested into Arena Burgas

Apr 04, 2016 11:00 am
Funding initially intended for the reconstruction and modernization of the Winter Sports Palace in Sofia will now be invested into the multifunctional Arena Burgas project, according to news reports. The Bulgarian Council of Ministers had originally granted €18m in funding for the Winter Sports Palace renovation. However, the work was never realized due to...
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Deichmann Romania posts €73m turnover in 2015

Apr 04, 2016 10:59 am
Deichmann Romania posted a turnover of €73m in 2015, up 12 percent from the previous year. The German shoes retailer opened five new stores in 2015 and currently operates a network of 74 stores across Romania. Deichmann is planning to open an additional seven locations in the country this year. The group’s turnover in 2015 increased by 8.3 percent from €4.9bn to €5.3bn.
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Romanian president confirms plans to build mosque in Bucharest

Apr 04, 2016 10:59 am
The Romanian government unveiled plans to build a mosque in Bucharest, despite opposition from numerous politicians. “During my visit to Bucharest, I discussed this issue with the president. At the moment, our colleagues are working to obtain permits. We also have a completed project, but now we want to develop it. This will be the most beautiful expression of dialogue...
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New 4-star hotel opens in Hungary

Apr 04, 2016 10:56 am
A new 4-star hotel has opened on Lake Balaton in Siófok, Hungary. Hotel Yacht is now offering 70 rooms and is able to accommodate up to 250 guests, providing wellness as well as therapeutic services. The hotel required an investment of HUF 1.4bn investment, which included a HUF 1bn European Union grant. Hotel Yacht is an important addition to the economic growth in Hungary...
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Komerční banka to sell Na Příkopě 33 in Prague

Apr 04, 2016 10:52 am
Komerční banka wants to offload its headquarters at Na Příkopě 33. Some of its staff currently working in the building would move to the bank’s new headquarters at the Stodůlky metro station in Prague 13 while others would be shifted to its building on Wenceslas square in Prague 1. The bank is seeking to reduce operational costs and hopes to take advantage of strong demand...
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Pekao, BZ WBK, PKO BPO and mBank refinancing Warsaw Spire

Apr 04, 2016 10:44 am
Ghelamco has refinanced the construction of its Warsaw Spire project with a €250m loan provided by a consortium of banks including Pekao, BZ WBK, PKO BPO and mBank. Once the project is completed, the developer has 18 months to repay the loan, with the final date set for Dec. 31, 2017. In December, Ghelamco delivered the second phase of the project, a 55-meter twin of the...
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Capital Park taps WSE for Eurocentrum, Royal Wilanów exit

Apr 04, 2016 10:37 am
Having established its first closed-ended fund back in 2013, Capital Park aims to launch a new vehicle on the Warsaw Stock Exchange, this time for its flagship office schemes, Eurocentrum and Royal Wilanów. The scenario, depending on the pace of legislation process, could involve introducing the REIT vehicle to the Polish market. “Our aim would be to establish an...
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Igor Klajmon joins Sekyra Group, Leoš Anderle promoted

Apr 04, 2016 10:10 am
Sekyra Group has appointed Igor Klajmon as its new development director as of April 1. He replaces Leoš Anderle who has been promoted within the company to the position of executive director. Both appointments are related to progress on the company’s two large Prague developments Smíchov City and Rohan City, and to further phases of BeláriePark in Prague Modřany and Opatov...
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Vinohradis Villas plans new Koliba residential project in Bratislava

Apr 04, 2016 09:50 am
The developer Vinohradis Villas plans to build another residential project in Bratislava’s Koliba district. The new complex is to go up next to the second phase of Belaria on Tupého street. It’s to consist of two sections: a strip of three story apartment buildings, which copies the slope of a hill and a villahouse on top of the site. The project, designed by Bogár Urban...
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New Cuatro Torres tower to be built by 2019

Apr 04, 2016 09:37 am
Plans for a fifth skyscraper to be built in the Cuatro Torres complex on the Paseo de la Castellana in Madrid are taking shape, and 2019 is now being targeted as a completion date for the new building. The fifth tower will be 165 m tall and have a surface area of 50,000 sqm. The property will house the IE Campus as well as a medical clinic and a shopping center. According...
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Sonae raises €39m for Belmiro de Azevedo Group thru sale and leaseback

Apr 04, 2016 09:23 am
Sonae RP, the holding company responsible for managing the real estate assets of retail of Belmiro de Azevedo Group, is continuing its strategy of selling and leasing out of the company’s real estate assets. Sonae sold off four food retail assets located in Portugal in through sale and leaseback arrangements carried out by Sonae Retail Properties, having achieved a price of...
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Municipality of Estremoz auctioning off former HQ

Apr 04, 2016 09:19 am
The Municipality of Estremoz will auction its former headquarters located in Arco de Santarém Street. The national monument has 3 floors with 423 sqm of floor area and a 556 sqm terrace. The bidders in the auction will be able to use the building for tourism purposes only according to an edict from the local authority. The bidding base value is €50m. The auction will be...
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Portugal’s Pestana Group plans Newark hotel opening

Apr 04, 2016 09:18 am
The Pestana Group will open another hotel in the USA, this time in the city of Newark. The group, which already has a hotel in Miami, Pestana South Beach Miami, says its newest hotel will open in 2017. The project arises from the partnership with a Portuguese business group based in USA which will most likely act act as developer. Hotel Pestana in Newark will have 109 rooms...
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Historic Comenda Palace on sale for €45m

Apr 04, 2016 09:17 am
The historic Comenda Palace in Arrábida, which sits on 600 hectares of land, is up for sale, but is enjoying little interest from investors. The building has been abandoned since the death of the landlord businessman Antonio Xavier de Lima in 2009. The complex has fallen into fairly serious disrepair, with some of the wooden staircases now ready to collapse and acts of...
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VIYM begins RUB 10bn office and residential scheme in Moscow

Apr 02, 2016 12:24 am
Andrey Yakunin’s Investment Fund VIY Management (VIYM) will start the construction of offices and apartments along the Rublevo-Uspensky highway in Moscow. The total volume of the investment is expected to exceed RUB 10bn. Andrey Yakunin is the son of the former head of JSC Russian Railways, Vladimir Yakunin. VIYM's pans are for more than 140,000 sqm of space to be...
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Luxor World cinema building sold in Cheboksary

Apr 02, 2016 12:21 am
The building that houses the Luxor World cinema in Cheboksary has been sold for RUB 90m. The buyer of the property will have the choice of leaving the current function as it is, or changing it to meet any need. Some of the proposed future uses for the building has been for retail, a hotel or offices. The total area of the two-storey building, constructed in 1961, is over...
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Value of project permitted in Florida plummets 45%

Apr 01, 2016 03:36 pm
According to a new report from Dodge Data & Analytics, the construction permit values are down 45 percent when compared to the February of last year. Builders in the greater metro Orlando pulled a total of $398.4 million in residential and commercial construction permits for the month, which was down from the $727.7 million reported in February 2015. Permits for...
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Lufthansa signs lease at Port 95 Business Center next to Fort Lauderdale airport

Apr 01, 2016 03:33 pm
Lufthansa has signed a new lease for industrial space at the Port 95 Business Center in Dania Beach. The company will house its machine and technical services division in the 19,913 sqf warehouse, which is located less than a mile from the Fort Lauderdale International Airport. Its subsidiary Lufthansa Technik, which specializes in selling, distributing and servicing...
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