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2019-11-27  09:47
CIJ Serbia
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Project News

Texo Molior to oversee €2.1m reconstruction...

Texo Molior signed a €2.1m contract with the Port Authority of Dubrovnik-Neretva County for the reconstruction of the Port of Trpanj in southeastern Croatia. The project will include upgrades to the main ferry port for the Peljesac Peninsula and Korcula island. The first phase is scheduled for completion in June 2020, while the second phase is expected to be completed by the start of ...
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2019-11-27  09:46
CIJEurope.com
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Company News

Orsay leases new warehouse space in Bielany...

Ordipol, the operator of Orsay stores, is expanding its presence on the warehouse market in Wrocław. Its new warehouses in Hillwood Wrocław Bielany, which were handed over to the company in November, will further improve its online order fulfillment. The tenant was represented by Cresa Poland. “Orsay is intensively expanding its e-commerce business both in Central and Eastern Europe a...
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2019-11-27  09:38
CIJ Serbia
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Company News

Accor Group to open first hotel in Albania

Accor Group is expanding to Albania. The hotel operator is scheduled to open Novotel Tirana in 2021 in the capital city. The hotel, to open in a building owned by Belv-Oil Group, will include 130 guest rooms, six conference halls, a swimming pool and spa center as well as restaurants and bars. “This is the first hotel in Albania which will work as Accor Group. This is a big step in t...
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2019-11-27  09:30
CIJ Serbia
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Company News

Sumi complex hotel to be operated by Barcelo...

Barcelo Group will operate the hotel that is going up in the Sumi residential and commercial complex in central Ljubljana. The four-star property will be part of the Spanish operator’s Occidental Hotels & Resorts brand. The hotel will include 51 guest rooms as well as a bar, car park. In addition to the hotel, the Sumi complex will feature 96 flats, shops, restaurants and bars.
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2019-11-27  09:25
CIJ Serbia
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Company News

Xingyu Automotive Systems to build €50m...

Xingyu Automotive Systems is planning to build a factory in Nis, southern Serbia. The Chinese company will invest €50m in the project, adding 1,000 jobs to the local labor market. Construction is scheduled to start in the first quarter of next year. The factory will go up on 13.5 ha in the West industrial zone. Xingyu manufactures LED lighting for companies like BMW, Audi, Renault, Op...
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2019-11-26  13:21
CIJ USA
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Deals

Pebblebrook sells Topaz Hotel for $33m

Pebblebrook Hotel Trust has closed on the $33.1m disposition of Topaz Hotel in Washington, DC. The 99-room property changed hands for just over $334,340 per room key. Based on the trailing 12-month period that ended Sept. 30, the contracted sales price reflects a 17.9x EBITDA multiple and a 4.9-percent net operating income capitalization rate. Pebblebrook has completed a total of $482...
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2019-11-26  13:20
CIJ USA
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Project News

Construction starts on Bankside resi project...

Brookfield Properties broke ground on the first phase of a $950m waterfront residential development in South Bronx’s Mott Haven neighborhood. The project, Bankside, will offer 450 apartments. The scheme will offer a total 1,350 units of which 30 percent will be income-targeted through the Affordable New York program. A total of 15,000 sq ft of ground-floor retail will be housed in the...
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2019-11-26  13:18
CIJ USA
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Deals

Continental Realty buys Mango Plaza for $12.5m

Continental Realty Corporation has purchased Mango Plaza, a 166,465 sq ft shopping center in Seffner, Florida, for $12.5m. Built in 1986, the center has been anchored by a Publix supermarket and Walmart since its opening. “The immediate area has benefited from several new multifamily and light industrial developments, including a FedEx delivery facility, and the population within thre...
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2019-11-26  13:15
CIJ USA
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Deals

Service Properties Trust sells 123 net lease...

Service Properties Trust has completed the sale of 123 net lease properties for $435m. The portfolio includes 2.4 million sq ft of space in 26 states. The transaction is part of a previously announced disposition plan to sell up to $500m worth of net lease assets in connection with its acquisition of a net lease portfolio of service-oriented retail properties from Spirit MTA REIT. ...
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2019-11-26  13:13
CIJ USA
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Appointments

John Cannon joins Community Preservation...

John Cannon has been named president of CPC Mortgage Company, the lending subsidiary of the Community Preservation Corporation. Prior to joining CPC, Cannon served as senior vice president at Freddie Mac where he was responsible for the overall multifamily origination volume and production strategy. He has also held positions with Berkadia, Campark and GMAC Commercial Mortgage.
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