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2019-06-20  09:35
CIJ Serbia

Construction booms in Montenegro in 2018

According to research by Monstat, in 2018 the total value of completed construction works in Montenegro rose 23.1 percent in 2018 y-o-y to €801.7m. The volume of construction carried out by companies reached €730.6m, representing a share of 91.1 percent, with the remainder of the work carried out by households (€71.1m). The company's data shows that 35.3 percent of the work was ...
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2019-06-20  09:31
CIJ Serbia

Bulgarian housing prices rise for 5th...

The EU's statistics agency Eurostat reports that Bulgarian housing prices rose 6.6 percent in 2018, the fifth consecutive year of price growth. Bulgarian housing inflation was more rapid than the European average, which came in at just 4.4 percent, but the results illustrate the strong nature of the recovery across the region since the global financial crisis of 2008. Eurostat fi...
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2019-06-20  09:24
GVA Activ Property Services
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Cluj-Napoca, the first city outside...

Cluj-Napoca is the first city outside Bucharest that reaches a modern speculative office stock of 300,000 sq m GLA following the delivery of several new office buildings in the first half of the year. Office development has accelerated in Cluj-Napoca and has potential to reach a record-high level of deliveries in 2019, with all the announced projects accounting for 80,000 sq m GL...
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2019-06-19  16:20
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Lantower Residential buys $74.7m Orlando...

Alta Grande, a recently completed 314-unit multifamily community in Orlando, Fla. has been acquired for $74.7 million by Dallas-based Lantower Residential. The asset on Grande Reserve Way in South Orlando changed hands for just under $237,900 per unit. The property encompasses 10, three-story residential buildings, an integrated clubhouse and nine garage buildings with rents ranging f...
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2019-06-19  16:18
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Company News

ACORE Capital closes new real estate debt...

Commercial real estate finance company ACORE Capital has closed its first discretionary co-mingled real estate debt fund, ACORE Credit IV. The firm raised $556 million which it intends to use to originate and manage transitional commercial real estate debt investments across the U.S. The fund’s investors are made up of international institutions from North America, Europe, the Middle ...
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2019-06-19  16:16
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Project News

Blue Sky Communities completes financing for...

Blue Sky Communities has locked up financing for The Preserve at Sabal Park, a 144 unit affordable housing asset in Seffner, Fla. TD Bank provided the money, arranging a $22m construction loan through its commercial real estate group and a $20.3 million equity investment through the purchase tax credits. Currently under construction, the community will also offer a financial literacy ...
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2019-06-19  16:13
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Endurance sells Colwick Business Center in NJ

A joint venture between Endurance Real Estate Group and Blue Vista Capital Management have closed on the disposition of the Colwick Business Center. The duo sold the three-building office complex in Cherry Hill, New Jersey for $17.4 million. The portfolio totals over 172,500 sqf and is currently 90 percent leased with a weighted average lease term of six years. JLL Capital Markets bro...
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2019-06-19  13:55
CIJ Romania
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Company News

Mediafax Group moves to One Victoriei Center

Mediafax Group has relocated to the One Victoriei Center office building, located near Victoriei Square in Bucharest, where it agreed to a lease of 2,235 square meters. The transaction was brokered by the Regatta Real Estate agency. One Victory Center has a total rental surface (GLA) of 12,000 square meters, and is occupied by high quality tenants such as Food Panda, BRD, S&T, Emb...
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2019-06-19  10:03

HB Reavis sells Skanska two Prague projects

Skanska's Czech division has acquired the Merkuria office building on Argentinska street in Prague 7 from HB Reavis, a deal which includes a permitted project for a new office building that will replace it. The transaction is in line with the developer's strategic decision to invest heavily in the Holesovice area. Last year it completed the Visionary office building, across ...
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2019-06-19  10:02
CIJ Romania
Company News

Speedwell buys land in Timisoara

The developer Speedwell currently has two projects under construction: Triama Residence in Bucharest and Record Park, a mixed-use project in Cluj. Octavian Matache, Commercial Manager Speedwell announced during CEDER 2019 that the company is also preparing "two other interesting projectsfor the next year: one on DN1 and another one in Jandarmeriei area." Both are in the phas...
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