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Posts from CIJ Europe.com for 04/13/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/13/2016

Latvia housing price up 6.4% in Q4 2015

Apr 13, 2016 11:43 am
Housing prices in Latvia shot up by 6.4 percent in Q4 2015, the sixth biggest y-o-y increase reported in the EU for the three-month period, according to data published by Eurostat. The Baltic country also reported a q-o-q increase of 2.3 percent. Housing prices in Estonia increased by 5.1 percent y-o-y and 0.8 percent q-o-q, while prices in Lithuania in Q4 were up 3.3...
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Aupark Tower and BBC5 in Bratislava get BREEAM certification

Apr 13, 2016 11:31 am
Two office buildings owned by the Heitman property fund in Bratislava have been certified as BREEAM Very Good, bringing to 21 the number of buildings in the Slovak capital to have earned the certificate. The assessment process for Aupark Tower and BBC5 took approximately a year to complete, during which not only the energy consumption and the technology systems in the...
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BBVA selling Spanish logistics portfolio

Apr 13, 2016 11:21 am
BBVA is selling a portfolio of industrial assets, covering more than 500,000 sqm across Spain. Of the 441 properties for sale, 327 are industrial warehouses, 28 are industrial or logistic plots, and 86 are parking spaces. The majority of the assets are located in Cataluña, while the others are located in Andalucía, Galicia, Baleares, Valencia, Cantabria and Canarias. BBVA...
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Colliers- record volume of investments in commercial real estate in Baltic States

Apr 13, 2016 11:13 am
According to Colliers International latest research total volume of investments in commercial real estate in the Baltics amounted to EUR 1.38 billion in 2015, exceeding the total record level achieved in 2007 and showing a significant increase over the previous year's EUR 855 million. This investment volume includes commercial properties with sales prices over EUR 0.4...
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Appetite for Czech spec industrial development grows

Apr 13, 2016 11:03 am
In the first quarter of 2016, 84,300 sqm of new industrial space hit the Czech property market across seven industrial parks. Major completions include a 33,500 sqm built-to-suit (BTS) project in Prologis Park Prague Jirny for Globus, a 10,600 sqm BTS in CTPark Kvasiny for an undisclosed manufacturing company and a 10,500 sqm BTS for Megatech Industries Hlinsko in CTPark...
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Prodplast Imobiliare investing €2m in Obor infrastructure

Apr 13, 2016 11:02 am
Prodplast Imobiliare is investing €2m into the infrastructure in Bucharest’s Obor district where it is developing the Veranda shopping center. Works include widening the road, improving the sidewalks and moving the tram station. The developer also plans to make improvements to the the area’s sewerage system and remove electricity poles. "We are also building 1,200...
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OTZ pre-leases 15,000 sqm at Bucharest West CTPark

Apr 13, 2016 10:59 am
CTP has pre-leased 15,000 sqm of a new 30,000 sqm warehouse it is building at CTPark Bucharest West to the logistics company OTZ. CTP acquired CTPark Bucharest West from Prologis in the second half of last year. The new warehouse will increase the total area of the park to 130,000 sqm. Construction started in the second half of March and is set for completion in September....
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Bulgaria posts monthly deflation of -0.7 percent in March

Apr 13, 2016 10:58 am
Bulgaria’s consumer price index in March 2016 compared to February 2016 was 99.3 percent, putting the monthly inflation at -0.7 percent, according to data released by the National Statistical Institute (NSI). The inflation rate since the beginning of 2016, has been -1.0 percent, and the annual inflation in March 2016 compared to March 2015 was -1.5 percent. The annual...
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Astronomical observation village planned for Bulgaria

Apr 13, 2016 10:58 am
UK developer Above and Beyond Normal Ltd (ABNL), which focuses on sustainable countryside communities, is planning to build of the first astronomical observation village in Bulgaria. Construction is set to break ground this spring in Bulgaria’s Stara Planina Mountains. Sky Village BG will include around 50 houses that will be suitable for astronomers. ABNL also...
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Decay sets in across the regions for most powerful Czech party

Apr 13, 2016 10:35 am
ANO, the political movement of the Czech finance minister Andrej Babiš, may be leading in the national polls, but it is falling apart at the regional level. The political weekly Echo24 claims ANO is losing its position in the country’s regional cities due to infighting between local representatives and alleged autocratic control from headquarters in Prague. It cites the...
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Ritz-Carlton opens first hotel in Hungary

Apr 13, 2016 10:26 am
Luxury hotel chain Ritz-Carlton has opened its first Hungarian hotel in a historic Budapest building owned by Al Habtoor Group. The property is located on Elizabeth Square and was constructed in 1914 as the headquarters for an Italian insurance company. Many of the building's original architectural details have been retained, including statues on the exterior walls....
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FAZ: Poland’s political turmoil hasn’t spooked investors

Apr 13, 2016 10:04 am
Despite concern over recent political changes, Poland remains a safe target for German investors, claims Frankfurter Allgemeine Zeitung ("FAZ"). In fact, claims the daily, the Polish market has actually grown stronger in recent years, becoming a key driver for the region. Germany remain Poland’s top business partner, with exports amounting to €48.5bn last...
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Hispania purchases Dunas Hotels hotel portfolio in Canary Islands

Apr 13, 2016 09:21 am
Hispania is planning to acquire four hotels on the island of Gran Canaria from Dunas Hotels & Resort. The deal will strengthen the hotel portfolio that the company already owns in the Canary Islands. The total investment of Hispania for the acquisition of the hotels will amount to approximately €75m in a deal which the buyer will take on debt associated with the assets....
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Three-month tally for Gold visa investments hits €210m in real estate

Apr 13, 2016 09:21 am
Real estate continues to dominate the granting of "visa gold" to foreign nationals in Portugal. From November 2015 to February 2016 applicants for residence permits invested €210m in real estate. Those who want to qualify for visas through investment must buy properties worth more than €500,000. In four months, 376 residence permits were issued under the program....
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Building construction falls for February in Portugal

Apr 13, 2016 09:19 am
The production index in construction fell -4.7% in February. The employment index of employment fell 5.3 percent for the month while wages dropped 4.6 percent (compared to -5.6 percent and -3.7 percent in January). The figures, compiled by the National Statistics Institute (INE) showed that building construction declined less heavily in February (4.8 percent) than it did in...
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Q4 prices in Portugal rise fastest of all Eurozone nations

Apr 13, 2016 09:19 am
The increase in house prices in Portugal in the fourth quarter of 2015 was the sixth largest among all Eurozone countries. The National Statistics Institute (INE) showed that the prices of houses in Portugal increased 5 percent in the fourth quarter compared to the same period last year. The country's results outstripped the regional average growth of 2.9 percent for...
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$280m bridge over Amur will promote economic development in Russia and China

Apr 12, 2016 10:46 pm
The construction of a bridge across the Amur River, which will connect the Russian city of Blagoveshchensk with China’s Heihe, will begin in the summer. It will be built from both banks simultaneously. The bridge is expected to cost $280 million and should open in 2019. Russia will build the bridge from Blagoveshchensk, while the Chinese will do it from Heihe, with the...
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New food court concept completed at MEGA Teply Stan in Moscow

Apr 12, 2016 10:43 pm
The management company of shopping and entertainment centers MEGA Ikea Centres Russia has invested $1bn in the expansion and remodeling of the food court in the MEGA Teply Stan mall in Moscow. The new food court's size, now called Delicious Boulevard, has doubled to 5,000 sqm and brings together more than 20 restaurants. The new concept includes a lounge area with...
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CannaMed acquires $950k weed shed in Maryland

Apr 12, 2016 03:55 pm
CannaMed Pharmaceuticals has closed on the purchase of an industrial warehouse building in Hebron, MD. for $950,000. Sitting on a 7.4 acre site the 47,226 sqf building is located at 27120 Ocean Gateway. CannaMed is a prospective licensee for one of 15 medical cannabis growing licenses to be issued in Maryland. The company plans to house their growing facility in the...
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Jacksonville contractors make the Housing Council's top 25 list

Apr 12, 2016 03:52 pm
The only Florida contractors the National Multifamily Housing Council has named to its list of 25 top general apartment contractors are based in Jacksonville. Summit Contracting Group was chosen number four having completed 4,853 apartment units built in 2015. LandSouth Construction placed 16th with 2,252 units constructed in 2015. Both companies improved on their 2014...
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