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Posts from CIJ for 04/11/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/11/2016

Sareb aims to offload 2,337 properties on Spanish coasts

Apr 11, 2016 11:44 am
Spanish bad bank Sareb is planning to sell 2,337 beach properties this summer. The properties are located mainly in the country’s Cartagena, San Pedro del Pinatar, La Manga del Mar Menor and Torre Pacheco regions. Prices for properties in La Manga start at €90,000, while in San Pedro del Pinatar prices start at €66,000. The cheapest properties can be bought in Torre...
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Bulgarian construction sector grew 2.7% in February

Apr 11, 2016 11:02 am
Construction output on the Bulgarian market was up 2.9 percent m-o-m in February, according to preliminary data from the National Statistics Institute. Civil engineering output increased by 3.3 percent, while building construction was up by 2.1 percent. However, production fell on a y-o-y basis by 1.9 percent in the same month, due to y-o-y drops in building...
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AAT Geothermae breaks ground on geothermal project in Croatia

Apr 11, 2016 11:01 am
AAT Geothermae started construction on the first phase of a new geothermal project in northern Croatia. In addition to a renewable energy power plant, the scheme, going up in Draškovec, a village in Međimurje County, will include a holistic wellness and health resort as well as a residential development with villas and apartments surrounded by a golf course. There will also...
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Guess to open store at Palas Mall Iaşi this spring

Apr 11, 2016 11:00 am
Fashion retailer Guess will open a store at Palas Mall Iaşi this spring. The store will be the first location for the American brand in northeast Romania and its third in the Iulius Group network. The retailer also operates stores at Iulius Mall Timişoara and Iulius Mall Cluj. The Guess store at Palas Mall will cover approximately 135 sqm. In Romania, the Guess...
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INS: Exports, imports increase in first two months of 2016

Apr 11, 2016 11:00 am
Romanian exports totaled €8.9bn in the first two months of 2016, up 4.1 percent from the same period the previous year, according to the National Statistics Institute (INS). Imports, meanwhile, totaled €9.9bn for January and February, up 8.5 percent from 2015. The trade deficit in the first two months was €993.m, up €428.4m from the same period in 2015. In February,...
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Vítek pressures Czech Railways to sell railway stations to CPI

Apr 11, 2016 11:00 am
CPI PG is increasing its pressure on state owned Czech Railways (ČD) to sell it a portfolio of 1,500 railway stations. ČD announced last week that it intended to sell the railway assets to another state owned entity, Správa železniční dopravní cesty (SŽDC). CPI PG’s major shareholder Radovan Vítek, argues that he’s offered a higher price: while SŽDC is willing to pay CZK...
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Jaguar Land Rover plant in Slovakia delayed

Apr 11, 2016 10:58 am
Construction of the industrial park in Nitra, that should accommodate the Jaguar Land Rover manufacturing plant, has been delayed. Originally the park was scheduled for completion in mid-2016, and work on the new Jaguar plant should have started by the same time. The new schedule shifts the start of construction of the plant to the end of 2016, with production scheduled to...
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Bridgepoint gets EC green light for Smyk takeover

Apr 11, 2016 10:55 am
The European Commission has approved the bid by the Bridgepoint fund to take over the Smyk, the Polish toy store chain. A preliminary agreement has been signed for the transaction, whose volume is expected to exceed PLN 1bn, including PLN 634.8m purchase price. Set up in 1952, Smyk is a part of Empik Media & Fashion group. The network currently amounts to 125 stores in...
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Single-person households rising in Spain

Apr 11, 2016 10:07 am
The number of single-person households in Spain is increasing, according to new data published by the central statistics office. The study shows that 25 percent of all households in Spain have just one member. In 2015, the number of two-person households rose by 13,700, while large family households of five people or more is becoming less common. The trend is moving away...
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Ondřej Vlk to head research for Colliers International in Prague

Apr 11, 2016 09:43 am
Colliers International have appointed Ondřej Vlk as a new head of research in the Czech Republic. In his new position, Ondřej will focus on market research and consultancy to clients across all market segments, preparation and coordination of Colliers publications and the support of all departments. Ondřej joins Colliers from CBRE Global Investors in Prague, where he worked...
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Hoppa names Budapest cheapest travel destination

Apr 11, 2016 09:42 am
According to a new study by the travel website, Budapest has become the world’s cheapest travel destination. Hoppa’s analysts took into consideration such indicators as the price of a taxi ride, a cup of coffee, dinner and drinks as well as the price of a night in a hotel. Analyzing the numbers from 46 countries, the city of Budapest ranked number one for being...
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Banco Popular Portugal profits from sale of real estate business

Apr 11, 2016 09:29 am
Banco Popular Portugal has sold off its real estate management unit Primestar SA. Through this move, the bank managed to improve the results of last year in the Portuguese market. The net income of Banco Popular Portugal rose from €2.3m in 2014 to €13.3m in 2015. Primestar had been responsible for the management of real estate assets to its customers with real estate...
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Renda Acessível Program attracts new families to Lisbon

Apr 11, 2016 09:25 am
The Lisbon City Council is investing €25m in housing and in the construction of new public spaces, in the rehabilitation of schools, and in the creation of nurseries and kindergartens. However, the city has also introduced the Affordable Income Program (PRA), which aims to provide access to homes at affordable prices in multiple locations around of Lisbon. The program aims...
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Bankinter invests in housing loans in Portugal

Apr 11, 2016 09:24 am
The bank Bankinter has acquired part of the Barclays operation in Portugal and doubled its share of the domestic market in a bid to increse its role in corporate loans and housing. Bankinter's chief executive Maria Dolores Dancausa said that the company's market share in Portugal is currently 5 percent, but plans to double this and to grow its share of revenues to...
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French investor buys Marinha Hospital for €17,9M

Apr 11, 2016 09:23 am
The Marinha Hospital (Navy Hospital), in Santa Engrácia, Lisbon, has been sold for €17.9m in an auction held by the Portugal's General Directorate of Treasury and Finance (DGTF) as part of the 3rd edition of the Urban Renewal Week. According to the organization, a private French investor was the winner of the bid. The property was the most attractive in a batch of 19...
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Ramenskoye Airport to open outside Moscow by end of April

Apr 11, 2016 04:58 am
The Ramenskoye Airport is set to become Moscow's fourth airport at the end of April. Construction work on the 15,000 sqm passenger terminal is being handled by Ramport, a company established by the Russian state corporation Rostec together with the Lithuanian Avia Solutions Group. Works include the construction of a new cargo handling facility and a maintenance shop....
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IKEA to boost output of Russian-made goods

Apr 11, 2016 04:53 am
IKEA has been stepping up its production of goods in Russia and now plans to ramp up capacity. In spring 2015, IKEA confirmed its plans to invest an additional $2 billion in Russia by 2020. The company sees Russia as one of its primary markets for growth and development and intends to export more Russian-made goods. The company owns four factories in Russia in the Moscow,...
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Accor invests €130m in Hamburg and Munich

Apr 08, 2016 04:43 pm
The hotel group Accor has acquired five buildings in Hamburg and Munich. The hotels were previously being operated by the company under a lease and should continue the operation under their brand names from four different owners: Novotel München City, Mercure München Olympiapark, Ibis München City West, Ibis and Ibis Budget Hamburg St. Pauli Messe. Among the sellers are...
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Broward Havana wins financing for $8.45m or Miami self-storage

Apr 08, 2016 03:40 pm
Broward Havana LLC, a Sandy Springs, Georgia-based entity controlled by Bruce A. Weiner, has secured a $8.45 million construction loan for a self storage facility in Miami. Located at the corner of Northwest Seventh Street and Northwest 12th Avenue, the 33,000 sqf site was a four-parcel assemblage that Broward Havana paid $2.6 million for in February 2015. The funding for...
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Florida leads in distressed homes sales for January

Apr 08, 2016 03:38 pm
According to a new report from CoreLogic, of the nations top 25 largest core-based statistical areas, Florida had two of the top five cities with the largest share of distressed sales in January. The greater Orlando metro area had a distressed sales percent of 19.8 (no. 3) and the Tampa-St. sburg metro area was just behind with 19.7 percent to come in at number 4....
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