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Posts from CIJ Europe.com for 01/11/2017

Daily Commercial Real Estate News from Europe and USA
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In this edition: 01/11/2017

Strabag profits from Jaguar plans for Nitra

Jan 11, 2017 11:47 am
Construction company Strabag won orders totaling €230m for preparation works for the Jaguar Land Rover plant in the industrial park in Nitra. Strabag in cooperation with local company Inpek Holding will build the park’s infrastructure for €8.5m. The state estimated it will have to pay €13.4m for the construction, which is scheduled for completion by the end of August....
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Average monthly income in Q3 was RON 2,972 per household

Jan 11, 2017 11:26 am
The average monthly income on the Romanian market in Q3 2016 was RON 2,972 per household ​​and RON 1,125 per person, according to the National Statistics Institute. Expenditures for the three-month period averaged RON 2,543 monthly per household (RON 962 per person), amounting to 85.6 percent of total income. Food consumption, non-food, services and transfers to public...
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Ikea Romania launches environment fund

Jan 11, 2017 11:25 am
Ikea Romania has established a fund for the urban environment valued at €75,000. The Ikea Fund will provide financial support for three years to three to five projects in Bucharest and Ilfov County. “We firmly believe that a company can develop harmoniously only when it manages to make a difference for the better in the environment and the communities in which they...
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Tesco reports CZK 3.3bn in profits

Jan 11, 2017 11:04 am
Tesco is back in the black in the Czech Republic. The company reported CZK 3.3bn in profits in its annual report for the 2015/16 fiscal year, ending in February 2016. Margins rose 4.4 percent, reaching CZK 43.6bn. The revaluation of long-term assets helped boost results. The third strongest retail chain in the Czech Republic reported a CZK 4bn loss the previous two fiscal...
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Asian investors most active on Czech investment market

Jan 11, 2017 11:01 am
Asian investors poured CZK 36bn into property assets in the Czech Republic last year. Their investment volume outstripped traditionally strong German or Czech investors, according to CBRE. Chris Sheils, head of capital markets at CBRE, said that Asian investors, when conducting business in the CEE region, focus on landmark properties, property portfolios or shares in real...
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Federico Bros Tejedor to head asset management at M&G Real Estate

Jan 11, 2017 09:59 am
M&G Real Estate has opened its ninth global office in central Madrid and appointed Federico Bros Tejedor as director of asset management. He joins from CBRE Global Investors. Bros Tejedor will be responsible for managing Iberian assets and supporting the business’ investments in this key European region – in particular the wider European property strategy managed by...
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Prologis acquires M0 Central Business Park in Hungary

Jan 11, 2017 09:59 am
Prologis European Properties Fund II has acquired M0 Central Business Park in Budapest from IDI Gazeley. Two fully leased facilities totaling 31,443 sqm will become part of the adjoining 98-percent leased Prologis Park Budapest-Sziget, which currently features seven buildings totaling 150,000 sqm. JLL facilitated the transaction. Tenants of the newly acquired investment...
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Svoboda & Williams Gets Exclusive Instruction to Lease Offices in ARA Palace

Jan 11, 2017 08:49 am
The Svoboda & Williams real estate company has received the exclusive instruction to mediate the lease of office space in the ARA Palace, a renowned Functionalist building from the 1930s, located in the city center of Prague on the corner of Perlová and 28. října streets. Svoboda & Williams will offer a total of cca. 2600 sq. m. of representative office space...
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Prager signs with Savills Studley to boost NY office

Jan 10, 2017 04:40 pm
Savills Studley has announced the hiring of Gerald Prager as Senior Vice President in the company’s New York headquarters office. Prager will work directly with the Savills Studley executive team to strengthen its corporate management and operations group as well as focus on the company’s go-to-market strategy. In addition, he will assist with strategic planning and the...
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Campus First buys Sailsbury University dorm with CF Real Estate

Jan 10, 2017 04:36 pm
A joint venture between Campus First Student Living and CF Real Estate Services had picked up a 648 bed property at the main campus of Salisbury University in Salisbury, MD. The purchase, University Orchard, is less than half a mile from the main campus. The new owners plan a $600,000 property upgrade program which will include constructing a new dog park, adding a large...
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Normandy Real Estate sells 300 Baker Ave in Concord for $63.5m

Jan 10, 2017 04:34 pm
Normandy Real Estate Partners has sold 300 Baker Avenue in Concord, Massachusetts to Novaya Real Estate Ventures for $63.5 million. Encompassing a total of 413,415 sqf, the office building has recently undergone substantial renovations including lobby, common area, amenity and building system upgrades. Amenities include a full-service cafeteria, fitness center, conference...
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GI Partners enters DNA Alley in MD with GSK Global Vaccine Centre acquisition

Jan 10, 2017 04:28 pm
San Francisco-based GI Partners has paid $337.5 million for the the GSK Global Vaccine Centre in Rockville, MD. The three-building, 635,058 sqf vaccine research and development facility is fully leased to a wholly-owned subsidiary of GlaxoSmithKline. Located in "DNA Alley" at 14200 Shady Grove Road, the three-building campus is situated on a 28 acre site. The area...
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Bank of the Ozarks provides Development financing for old Tampa Tribune site

Jan 10, 2017 04:25 pm
Related Group has secured $76 million in construction financing for the the redevelopment of the former Tampa Tribune site on the Hillsborough River. The Miami based developer plans to build a eight story, 400-unit residential building with 10,000 square feet of ground-level retail as well as a riverfront trail in front of the development. Located at 202 S. Parker St., the...
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Boynton Beach Medical Plaza sells for $14.5m

Jan 10, 2017 04:19 pm
Woodside Health, based in Cleveland Ohio, has closed on the purchase of the Boynton Beach Medical Plaza in a $14.5 million transaction. The 50,684 sqf building is located at 10151 Enterprise Center Boulevard near the Bethesda Hospital West. Built in 2007, the two story class A building was 90 percent leased at the time of the sale. NGKF Capital Markets Executive Managing...
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