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Posts from CIJ for 02/27/2018

Daily Commercial Real Estate News from Europe and USA
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In this edition: 02/27/2018

Judit Kresz joins CMS Budapest as senior associate

Feb 27, 2018 10:53 am
Judit Kresz joined the legal and tax services provider CMS Budapest as a senior associate. Kresz is a registered tax advisor with 13 years of experience gained at one of the Big Four professional services networks as well as at various large corporations. Thanks to her background, she is particularly experienced in cross-border matters and in her previous position led the...
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Revenues, footfall up at expanded Outlet Park Szczecin

Feb 27, 2018 10:52 am
More than 1.5 million people have visited the recently expanded Outlet Szczecin Park since September, up 10 percent on the year. Revenue also increased by 25 percent over the last five months. Outlet Szczecin Park, owned by EPP, is the largest mall and the only outlet center in the Western Pomerania region. The property offers 120 units, as well as a seven-screen Helios...
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Brno at MIPIM 2018: revitalization of Ponava locality and the future Špitálka Smart District

Feb 27, 2018 10:35 am
Brno´s presentation at the upcoming MIPIM property market (Cannes, France) is focused on Ponava - a newly revitalized locality, which has been always used for leisure and sports. According to the City´s plans, three major sports venues are concentrated on this 44.5-hectare site: a football stadium seating over 30,000 visitors, a multipurpose hockey arena with the estimated...
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Hagag invests €90m in first Bucharest project

Feb 27, 2018 10:31 am
Hagag Development Europe is investing more than €90m in its first project in Bucharest. H Pipera Lake, a residential complex, will go up along the shore of Lake Pipera on 57,000 sqm. The project will offer a total of 1,350 apartments in 17 buildings. The ground-floor apartments will have gardens. There will also be more than 1,600 parking spots. Construction is set to break...
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Feb 27, 2018 10:06 am
The Amsterdam-based online food ordering and delivery company has acquired BGMenu in Bulgaria. The Dutch company acquired Hello Hungry for €10.5m whose competitor BGMenu is the market leader in food delivery. The company acquired 100 percent of Bulgaria’s BGMenu and Romania’s Oliveira company.'s plan is to strengthen its position across Europe...
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Nevsun hopes to strike gold in near Bor, Serbia

Feb 27, 2018 10:00 am
Nevsun is a Canadian company that has exploration rights in the upper zone of the copper and gold site Cukaru Peki. The company claims the copper and gold site near Bor in Eastern Serbia is one the best development projects in the world. In 2018, Nevsun will invest USD 50-60m in the site, while the entire investment is expected to require an investment of $1.5bn. The...
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T.E. begins new residential scheme in Kbely-Prague

Feb 27, 2018 08:34 am
The development group T.E. has begun work on its newest residential project, Bleriot, located on the edge of Prague in Kbley. A total of 151 flats are to be completed in the next two years that are being built in the B energy class. The developer's design calls for a generous amount of green landscaped public space, with gardens and a park for residents. Construction...
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Opposition accuses Slovak government of wasting Euro funds

Feb 27, 2018 08:07 am
Slovakia has made use of just 10 percent of the Euro funds that it was eligible for, according to Richard Sulík of the SaS opposition party. He blames the government of Robert Fico for the failure to do more to take advantage of the availability of funding. He says that by the end of 2018, the country has €2bn to spend but that it's technically impossible to achieve...
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Aimco buys $160m Washington, D.C. apartment complex

Feb 26, 2018 03:14 pm
A 748-unit multifamily community in Centreville, VA. has been sold to Apartment Investment and Management Co. (Aimco) in a $160m deal. The property, Bent Tree, is located on the western outskirts of Washington, D.C. The asset is made of 335 one-bedroom, 353 two-bedroom and 60 three-bedroom apartments, with an average rent price of $1,500. Trading for just over $213,900 per...
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Prologis deal for Queens FedEx shed called off

Feb 26, 2018 03:12 pm
The logistics real estate investment trust Prologis has cancelled its purchase agreement with Suncap Property Group for a massive FedEx warehouse in Queens. The $265 million deal was predicated on the inclusion of stock offered by Prologis as part of the deal. After the firms stock took a $4 a share hit the deal was rescinded. Los Angeles-based investment firm American...
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ReOp Investments acquires $20m office complex in Greenville, SC

Feb 26, 2018 03:09 pm
ReOp Investments, based in Greenville, South Carolina, has closed on the $20.25 million purchase of an eight building office complex just south of Tampa International Airport. Located in the city's Westshore area on West Cypress Street, The Bay West office complex totals 195,558 square feet. Built in 1983 on a 15.4 acre site, the property was 95 percent leased to...
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Tomoka Land buys Aspen commercial building for $28m

Feb 26, 2018 03:06 pm
Consolidated-Tomoka Land Co. has closed on the acquisition of a 19,596-square foot, newly constructed commercial building located in downtown Aspen, Colorado. The $28m sale includes a twenty-year master lease on the property with an affiliate of A.G. Hill Partners, of Dallas. The tenant is currently subleasing three of the retail spaces totaling 26 percent of the property....
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