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2020-02-14  09:25
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Company News

CTP looks for strategic partner to speed growth

CTP will explore selling off a portion of its portfolio in order to meet an ambitious goal of expanding its portfolio to 10 million sqm by 2023. In order to achieve this, the Czech Republic's dominant industrial developer and operator of industrial parks could partner with a strategic investor. CTP achieved a capital base of over €2.5bn at the end of 2019 and claims it's w...
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2020-02-14  09:15
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Project News

First sections of Bratislava bypass to open...

Nearly 30 kilometers of the new R7 expressway near Bratislava is within weeks of opening. The Slovak Minister of Transportation Árpád Érsek said he didn't intend to cut any ribbons before the upcoming elections, but that the high capacity roads would improve the quality of life and ease the daily trip made by commuters. The section to be opened runs from Rovinka to Ketelec (part ...
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2020-02-14  08:14
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Company News

Wojnarowscy leases 3,850 sqm at Panattoni...

Wojnarowscy has leased 3,850 sqm of warehouse and office space at Panattoni Park Sosnowiec II. The owner of the Spectrum LED brand was represented by Cresa. The tenant will move into its new space in the third quarter of this year. Panattoni Park Sosnowiec II includes 80,000 sqm in two warehouse buildings. The property is also equipped with large truck courts, parking facilities and n...
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2020-02-14  08:13
Company News

CitySpace grows flexible office space portfolio

With demand growing, CitySpace, a Polish operator of flexible serviced offices, increased its managed area by 70 percent last year and opened more than 800 additional workstations across the country. CitySpace already leases desks in 10 locations in Poland. In 2019, the company opened four new offices, including at the Aquarius Business House in Wrocław, Galeria Młociny in Warsaw, the...
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2020-02-14  08:11
Company News

Cordia acquires 63.7 million shares in Polnord

Cordia has finalized its acquisition of 63.7 million shares in Polnord. The deal is worth €31.7m. The Hungarian developer’s stake in the company now exceeds 65 percent. Sale negotiations started in December. The transaction was approved by the Office of Competition and Consumer Protection (UOKiK) on Jan. 24. “Despite its difficult financial situation, Cordia considers Polnord as an at...
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2020-02-14  08:02
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Mateusz Skubiszewski to head capital markets...

Mateusz Skubiszewski was promoted head of the capital markets team at BNP Paribas Real Estate Poland. Skubiszewski has been with the company for more than six years. In his new role, he will be responsible for coordinating real estate sales and purchases as well as maintaining relationships with existing clients and acquiring new ones. Skubiszewski will also support the financing of r...
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2020-02-14  08:00
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Company News

Savills named leasing agent for three...

Savills has been appointed exclusive leasing agent for office space in three buildings at Business Garden Wrocław, which is owned by ISOC Group. Savills has also been the property manager for the first phase of the project since mid-2019. Business Garden Wrocław offers 117,000 sqm and is the largest office complex in the city. The three buildings at Business Garden Wrocław that Savill...
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2020-02-13  11:09

Generali buying Kotva from PSN for CZK 3.5bn

Generali is to acquire Kotva for more than CZK 3.5bn according to media reports. The daily Hospodářské noviny writes that the current owner, PSN, bought the store in 2016 for something over CZK 2.5bn. PSN managed to stabilize the asset's income but the outdated department store has suffered in the new retail environment. PSN had ambitious plans for Kotva, which was built 45 years...
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2020-02-13  10:10
Company News

Škoda Auto could lose Superb production to...

Škoda Auto, the largest firm in the Czech Republic, is entering uncertain times, according to the daily Hospodářské noviny. Its mother company Volkswagen continues to struggle over its decision on how to juggle production in order to increase output while introducing new models. The recent decision to shelve plans to build a new Škoda factory in Turkey could result in the production o...
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2020-02-13  10:08
Company News

Křetinský’s EPH planning massive koruna bond

A consortium of Czech banks is preparing a massive bond offering for EPH, an investment vehicle owned by the business mogul Daniel Křetinský. The company intends to sell between CZK 5bn and CZK 7.5bn in five-year notes. The transaction is being organized by J&T Banka, Česká spořitelna, Komerční banka and UniCredit Bank. At a time when savings accounts are yielding a maximum of 1.6...
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