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Posts from CIJ for 04/26/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/26/2016

Moscow homes near water in short supply, start at RUB 19m

Apr 26, 2016 12:50 pm
The most expensive house on sale in the Moscow area near a large body is on the market for RUB 980 million. The Stroygazeta newspaper cites Penny Lane Realty as claiming the property is located near Ostashkov highway. However, market observers claim there are few such water properties currently available. A chain of reservoirs along the Dmitrov highway is popular among...
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Transneft buys Evolution Tower in Snegiri Development

Apr 26, 2016 12:46 pm
Transneft has acquired Evolution Tower, an office tower in MIBC Moscow City's Snegiri Development for $300 million. According to the daily newspaper Kommersant, Snegiri Development began building the tower, which offers 79,000 sqm of office space, in 2012. Construction work was completed in 2015 and interior finishing work is taking place at the moment. Transneft has...
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Tamás Steinfeld named associate director at Colliers International

Apr 26, 2016 11:35 am
Tamás Steinfeld was named associate director of Colliers International’s valuation and advisory services team. In his new role, he will be widening the department’s range of services. Steinfeld has more than eight years of property experience. Prior to joining Colliers International, he worked for Ernst & Young and KPMG where he also gained experience in advisory...
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Garitage to break ground on new office, resi scheme in Sofia

Apr 26, 2016 11:08 am
Garitage Investment Management is planning to start construction on a €150m mixed-use project in Sofia this summer. Garitage Park will go up on a 165,000 sqm plot with direct access to the city’s ring road. The scheme will offer 95,000 sqm of office and 60,000 sqm of residential as well as a park with a lake, playgrounds and sports facilities. Plans also call for a...
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Magna Powertrain to build plant in southern Bulgaria

Apr 26, 2016 11:07 am
Magna Powertrain is planning to build a new plant in Stara Zagora, southern Bulgaria. The new facility will produce parts for automobile air conditioning systems and will employ 100 people in the first phase. The municipality announced it will supply the Canadian company with a 160-acre plot for the new production plant. Magna Powertrain currently operates 314 factories...
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Shumen invests €1.9m in admin court building

Apr 26, 2016 11:07 am
Shumen, the 10th largest city in Bulgaria, invested €1.9m to renovated its administrative courthouse. The building was purchased in 2011 for €1.3m. The Ministry of Justice allocated an additional €600,000 to modernize the building and its equipment. The recently opened courthouse now has two meeting rooms, one room for the lawyers and an information center. The ribbon...
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Coresi Business Park obtains BREEAM Very Good certificate

Apr 26, 2016 11:06 am
Coresi Business Park, the class A office project developed by Ascenta Management on the former Tractorul industrial platform in Brasov, was awarded with a BREEAM Very Good sustainability certificate for the two buildings in its first phase. The buildings, T39 and T42, went through a thorough refurbishment between 2012 and 2016. Together they offer 14,000 sqm of office...
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New hotel planned at Barrandov Terraces in Prague 5

Apr 26, 2016 11:02 am
Barrandov terraces, a property that was once connected with the Barrandov film studios and a traditional meeting point for Prague’s elite, may finally get the renovation the decrepit building needs so badly. The investor Michalis Dzikos, who has owned the iconic building since 2003, has finally started preparatory works. Over the summer, he plans to start the reconstruction...
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Portugal 23rd European rankings for RE investment

Apr 26, 2016 10:52 am
Portugal ranked 23rd place Europe as a real estate target, according to Global Property Guide, which called it an attractive country with a moderate to good rating. The annual capitalization rate is 6.16 percent, according to the publication. It's strongest points are low transaction costs and also moderate rates of income tax. On the negative side are low yields in...
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Bank Santander Totta to auction off 134 houses

Apr 26, 2016 10:50 am
Euro Estates is preparing to auction off 134 homes from the bank Santander Totta in what's being called a public event beginning April 30. The company expects prices to be competitive and that lending institutions are likely to propose attractive terms. In Lisbon, 77 homes will be sold off in a variety of locations, especially Setúbal, Castelo Branco, Alentejo and...
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Passenger numbers jump 14% at Václav Havel Airport Prague

Apr 26, 2016 10:50 am
Compared to 2015, passenger numbers at the Václav Havel Airport Prague rose 14 percent over the first quarter of this year, with 2.29m passengers handled. The majority of them came from the UK, Germany and Italy. Along with passengers, the number of planes taking off and landing was on the rise, as was the volume of transported cargo. Airport spokeswoman Marika Janoušková...
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Bairro Alto Hotel undergoing renovation and expansion

Apr 26, 2016 10:50 am
The Bairro Alto Hotel is growing on Camões Square in Lisbon even as extensive renovation work is being carried out. Work should be completed in 2017 on the award winning hotel, which is growing to fill an entire block of the square. The hotel building was constructed in 1845, and investments in the facility are expected to rise to €600m. The Bairro Alto Hotel has 55 rooms...
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Pablo Merino Villanueva named partner at Silverton

Apr 26, 2016 10:36 am
Pablo Merino Villanueva was named partner of Silverton Financial Advisors’ Spanish team. In his new role, Villanueva will oversee sourcing and consultancy services for clients acquiring through mortgage and real estate transactions on Spain’s residential and commercial markets. Villanueva has 15 years of property experience. Before joining the company, he was head of...
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SEA sells industrial land across Spain

Apr 26, 2016 10:14 am
The state-owned company Suelo Empresarial del Atlántico (SEA) sold 43,141 sqm of industrial land in a public tender launched in January. The price of the 15-parcel deal was €2.1m. The name of the buyer was not disclosed. SEA, controlled by Spain’s Ministry of Development through Sepas, has sold a total of 28 land parcels, spread across 10 business parks covering 81,087 sqm,...
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Green Property to develop 120-meter office tower in Warsaw

Apr 26, 2016 10:01 am
Green Property Group is preparing to add a 32-floor office tower to the Warsaw market. The 120-meter building could go up near one of Warsaw’s key retail mall Arkadia, at the corner of Okopowa, Młocińska and Burakowska streets. The design by JSK Architekci will correspond with high-end stores and restaurants operating within the area. Called B4, the scheme will offer 28,000...
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YIT moves on to third phase of Tammi in Bratislava

Apr 26, 2016 09:54 am
YIT has moved to the third stage of its residential project Tammi in Dúbravka in Bratislava. The Finnish developer is preparing to build another 89 flats. Originally, YIT has only planned to build 315 units at Tammi but the final count is now expected to be 500, when the project is completed. The flats in the third phase range between 20 and 135 sqm and are on offer at...
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James Breeze to lead industrial research for Colliers International

Apr 25, 2016 03:46 pm
Colliers International has hired James D. Breeze as Director of Industrial Research, joining the company’s research group led by Andrew Nelson. In his new role, Breeze will focus on analyzing industrial property trends and compiling Colliers’ thought leadership and research reports. Prior to joining Colliers, Breeze served as Cushman & Wakefield’s Research Director for...
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W.P. Carey buys 49 industrial buildings from Forterra

Apr 25, 2016 03:43 pm
W. P. Carey Inc. has closed the acquisition of a 4 million sqf, 49 property industrial portfolio located in the U.S. and Canada for an aggregate purchase price of $217 million. The portfolio is comprised of 43 properties in the U.S. totaling approximately 3.5 million sqf and six properties in Canada totaling 500,000 sqf. The properties are leased to wholly-owned...
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Delta Hotels and Resorts breaks into American market in Orlando

Apr 25, 2016 03:38 pm
Marriott International's Canadian-based Delta Hotels and Resorts has opened the Delta Orlando Lake Buena Vista in partnership with JHM Hotels. The opening marks the first branded hotel in the United States under the Delta flag. The new property, which offers free transports to Disney World, offers 241 guestrooms and a resort-style outdoor swimming pool. The Delta...
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Prism Capital Partners launches Edison Village renovation project

Apr 25, 2016 03:36 pm
Prism Capital Partners has announced the start of Constitution for the fist phase of Edison Village in the historic Thomas Edison Invention Factory and Commerce Center in West Orange, N.J. The project represents the largest non-waterfront adaptive-reuse redevelopment project in New Jersey and encompasses 21 acres on Main Street. The project is located adjacent to the newly...
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