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Posts from CIJ Europe.com for 06/02/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 06/02/2016

Czech Ahold profits triple in Q1

Jun 02, 2016 10:32 am
Albert supermarkets in the Czech Republic saw their profits triple in the first quarter of 2016 to €6m. Their operator, Dutch Ahold, increased its overall operational profit to €449m in Q1, up 15 percent y-o-y. The results exceeded the expectations of the analysts who had predicted an operational profit in the vicinity of €430m, according to Reuters. Total revenues rose 4...
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Tunnel offered to unblock rail connection to Prague airport

Jun 02, 2016 10:31 am
The Czech transport ministry is considering whether a tunnel should be dug to complete a rail connection from Václav Havel Airport Prague to Masaryk Station in Prague 1. The tunnel would run between Veleslavín and Dejvice in Prague 6. Czech Railway Manager Správa železniční dopravní cesty (SŽDC) came up with the potential solution for this vital project that’s being blocked...
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Average rental prices in Spain up 4.5%

Jun 02, 2016 10:01 am
Rental rates are on the rise on the Spanish residential market, increasing by an average of 4.5 percent over the last 12 months, according to Fotocasa.es. The average rent in Spain was €7.29/sqm at the end of April, up 0.8 percent from the month. Barcelona, Madrid and Balearics reported the steepest increases. However, the country’s most expensive rental market is Catalonia...
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UBM to build Holiday Inn on Gdansk’s Granaria Island

Jun 02, 2016 09:51 am
UBM revealed today that it has secured the construction permit for its latest Polish hotel project for the InterContinental chain, this time in the Baltic Sea coastal city of Gdańsk. Work on the four-star Holiday Inn hotel is set to kick off in autumn. The hotel is a part of the Granary Island scheme, which is being delivered through a PPP (Public Private Partnership)...
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JYSK to open at Retail Park Varna in August

Jun 02, 2016 09:51 am
JYSK is planning to open a store in Retail Park Varna in August. This will be the retailer’s ninth unit in Bulgaria and its first in Varna. The tenant mix at Retail Park Varna includes the country's first Ikea orders center as well as the only Decathlon store in the city. Comsed, Martineli Design Corner and Dominiko also have units at the retail park....
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Chinese companies to invest about €2bn in Bulgaria

Jun 02, 2016 09:50 am
More and more Chinese investors have been turning to Bulgaria in recent months, with a about €2bn worth of projects planned for the country, including luxury property developments, an airport and a metals mine, according to Reuters. Zhengzhou Yutong Bus Co. recently signed a contract to produce 110 buses for Sofia’s public transport company and is planning to build a...
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UK housing growth slows in May

Jun 02, 2016 09:50 am
The growth rate on the UK housing market continued to drop in May, according to data published by the Nationwide building society. Growth fell to 4.7 percent last month from 4.9 percent in April and 5.7 percent in March. Prices, meanwhile, increased on average by 0.2 percent in May, the data shows, with the average price of a house in the UK hitting GBP 204,368. Nationwide...
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Mercur Craiova Center reopens on June 9

Jun 02, 2016 09:50 am
Mercury Center Craiova is set to reopen on June 9 after undergoing an extensive €12m renovation. The retail center’s tenant mix includes H&M, Colin's, S'Olivera, Pepco and Profi. There will also be a six-screen multiplex operated by Inspire Cinema. The food court will feature restaurants like Spartan, Oșanu, McGrill and Shanhay Bar as well as several...
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Rača district blocks Bencont’s residential scheme

Jun 02, 2016 09:47 am
Bencont Development has run into a hurdle with its project Rínok Rača – the redevelopment of a former winery in Bratislava’s Rača district into a residential complex. Public representatives of Rača consider the 500-flat project to be far too ambitious. They demand that the developer reduce the overall volume to decrease the level of added traffic and noise in the location....
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Vicente Aliño appointed RE director at Altamira

Jun 02, 2016 09:12 am
Vicente Aliño was appointed director of real estate at Altamira Asset Management. He also joins the company’s board of directors. Aliño previously worked for Grupo Lar, where he held various management roles. He has extensive experience in the real estate sector, having served as the regional manager for Levante, where he led the opening and development of the company’s...
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EPIC acquires The Royal Palm for $16.75m

Jun 01, 2016 03:54 pm
An EPIC affiliate has closed on the purchase of The Royal Palm office building in Palm Beach for $16.75 million. The three-story, 23,362 sqf structure at 250 Royal Palm Way is situated on “Banker’s Row,” a pricey stretch of Palm Beach commercial real estate that makes up one of the country’s most expensive office markets. The building is 88 percent leased with major tenants...
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Jack Williams returns to Lee Wetherington Homes as VP

Jun 01, 2016 03:50 pm
Southwest Florida homebuilder Lee Wetherington Homes has rehired Jack Williams and named him vice president of construction. Williams first worked for Lee Wetherington from 1994 to 2005, starting as a building superintendent and later production manager before being promoted to vice president of construction. Between 2005 and his recent return, Williams served as a vice...
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Clarion Partners buys Pompano Beach offices for $77.25m

Jun 01, 2016 03:48 pm
A four-building industrial park in Pompano Beach has been acquired by Washington, D.C.-based Clarion Partners for $77.25 million. Built between 1999 and 2001, the buildings are located at 1901, 2001 and 2004 N.W. 25th Ave. and 2510 W. Copans Road. Trading for $124 per sqf, the warehouses rest on a 37.4 acre site and total 623,256 square feet. The seller, Invesco Advisors,...
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Holiday Inn 57th Street sold for $150m to Woodridge Capital Partners

Jun 01, 2016 03:45 pm
The Holiday Inn Midtown 57th Street has changed hands in a $150 million deal to the Los Angeles-based real estate investment firm Woodridge Capital Partners. The 17-story, 596-key property is located at 440 West 57th Street, between 9th and 10th avenues. Built in 1964, the building served as Manhattan’s first Holiday Inn hotel and has undergone approximately $6.5 million in...
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Elandis picks up four Houston resi communities

Jun 01, 2016 03:39 pm
The property company Elandis has acquired a 1,000 unit portfolio in four separate multi-family communities in Houston, Texas. The $50 million deal encompasses the Kirkwood Landing in South Kirkwood Road; The Forest in Imperial Valley Drive; Valencia at Spring Branch in Long Point Road, and Pine Creek in Maxey Road. The properties will be managed by Elandis’s wholly-owned...
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Brian Berry named Executive VP at Monday Properties

Jun 01, 2016 03:37 pm
Monday Properties has announced the hiring of Brian D. Berry as Executive Vice President. In this newly created role, Berry will focus on identifying and closing new property acquisitions, creating value in existing assets and raising capital from external co-investment partners. Prior to joining Monday Properties, Berry worked for both Trizec Properties and Tishman Speyer,...
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Global Partners involved in $67m New England gas station deal

Jun 01, 2016 03:34 pm
Global Partners LP has entered into an agreement with a institutional real estate investor for the sale and leaseback of 33 gasoline stations and convenience stores for approximately $67 million. The retail sites, which are located throughout New England, will be sold to the buyer and leased to Global Partners or its subsidiaries for a period of 15 years with contractual...
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Joe Bradley named principal of MacKenzie Commercial RE

Jun 01, 2016 03:32 pm
Joe Bradley has been named a Principal of MacKenzie Commercial Real Estate Services and is now designated as Senior Vice President/Principal. Bradley has been with the company since 2011 and will focus on the sale and leasing of commercial assets, tenant advisory, and consulting for local and regional tenants and landlords in the Greater Baltimore region. “Joe has proven to...
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