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Posts from CIJ Europe.com for 02/14/2017

Daily Commercial Real Estate News from Europe and USA
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In this edition: 02/14/2017

Founding of companies with foreign capital hits 18 year low in Romania

Feb 14, 2017 11:43 am
The number of companies to be registered in Romania using foreign capital fell to an 18 year low in 2016, according to the National Trade Registry Office (ONRC). The figure dropped to just 5,348, which was down from the 5,831 set up in 2015. The biggest number of companies with foreign capital to be founded in a single year was 15,000, with that record having been set in...
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Jeantet advises Accor on purchase of five hotels in Budapest

Feb 14, 2017 11:24 am
Jeantet advised Orbis, a unit of the French-owned AccorHotels, in a buyback transaction worth €64.3m involving five hotels in Budapest currently operating under the Accor brands. The seller was Erste Group Immorent Holding GmbH. The properties include the Mercure Budapest Korona, Ibis Styles Budapest Center, Ibis Budapest City, Ibis Budapest Centrum and Mercure Budapest Buda.
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CPI Hungary’s occupancy rate up 15% in 2016

Feb 14, 2017 11:22 am
The occupancy rate of CPI Hungary’s portfolio grew 15 percent y-o-y in 2016. The company signed lease agreements on a total of 60,000 sqm for the year. It also spent €5m on development projects, including the total renovation of the Balance Building at the Balance Office Park, which reached 90 percent occupancy in 2016....
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Cordia takes over development of Sasad Resort in Budapest

Feb 14, 2017 10:54 am
Cordia, the residential subsidiary of Futureal Group, took over the development of Sasad Resort in Budapest. The company plans to invest €140m to develop an additional 850 homes, an 8,000 sqm private leisure park and an office building. The development was originally started by GTC Hungary, which completed the first three phases. Completion is set for 2021. “As GTC is no...
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Restructuring plan for One Fashion Outlet seeks approval

Feb 14, 2017 10:37 am
A creditor’s committee has approved the restructuring plan for One Fashion Outlet, the first outlet center in Slovakia in Voděrady. The owner of the center, Realiz, has one-and-half years to find an investor. The plan must still be approved by the creditors if the center is to avoid bankruptcy. KPMG has been hired to look for an investor. Under the restructuring plan, 50...
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Maraton offices land three new tenants

Feb 14, 2017 10:33 am
OLX, OTOMOTO and Otodom, the three biggest real estate classified platforms in Poland, will relocate to the Maraton office building in Poznań. The companies, all part of the Naspers group, leased nearly 5,000 sqm of office space in Skanska Property Poland’s newest office investment. OLX Group will relocate to Maraton in June 2017. The property is located in the center of...
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Bageterie Boulevard opening drive-thru, expanding to Germany

Feb 14, 2017 10:08 am
Bageterie Boulevard is planning to add three drive-thrus to its fast food network at shopping centers and along motorways in the Czech Republic. The first drive-thru will open in Vestec on the southern outskirts of Prague, followed by an additional two in Horní Měchopupy and the Průhonice shopping zone. Expansion director Markéta Krejčíková hopes the Czech chain will be...
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Sekyra to launch pre-sale of flats at Rohan in 2017

Feb 14, 2017 09:37 am
Sekyra Group plans to start development of new neighborhoods in Prague districts of Karlin and Smíchov in 2018. Redevelopment of the third large development area, Žižkov Cargo Station in Prague 3, has been blocked by construction ban applied by local administration. Redevelopment of Rohan Island in Prague Karlín in Prague 8 into Rohan City and area of Smíchov railway...
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Related buys South Tampa development tract for $11.81m

Feb 13, 2017 04:22 pm
Miami-based Related Group has acquired a 8.5 acre tract of land in the South Tampa master planned community, Westshore Marina District. The firm paid $11.81 million for the plot which sits on a 52 acre development and will feature 1,750 residential units, 156,250 sqf of retail; 83,750 sqf of office, a marina and a 1.5 mile waterfront park for Tampa residents. Related plans...
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Colliers brokers put together $26.5m deal for The Canopy at Belfort Park in Jacksonville

Feb 13, 2017 04:19 pm
The Canopy at Belfort Park, a 192 unit apartment complex in Jacksonville has changed hands in a $26.5 million deal. The buyer TC Belfort Park is related to the Morgan Group, a real estate company that focuses on New York apartments. Trading for $138,000 per unit, the property is located at 7750 Belfort Parkway near the intersection of J. Turner Boulevard and Interstate 95....
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WCI bought out by Lennar for $643m

Feb 13, 2017 04:17 pm
Bonita Springs-based WCI Communities has been acquired by the nation’s second largest homebuilder, Lennar Corp. in a $643 million transaction. The firm paid $23.50 per WCI share in return for which it will assume control of 13,700 home sites in coastal markets of Florida, as well as WCI’s brokerage and title services companies. According to the 2016 Builder 100 list WCI...
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Miles joins sbe as senior VP for sales and marketing

Feb 13, 2017 04:15 pm
sbe has hired Marcy Miles as Senior Vice President Sales and Marketing for the Americas, Europe and Middle East. In her new role, Miles will develop and manage the sales and marketing strategy across the sbe platform and will be expected to deliver revenue growth. Prior to joining sbe, Miles worked at Atlantis Paradise Island, Bahamas for nine years where she served as the...
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Wolf Commercial takes on leasing of medical offics for Welltower

Feb 13, 2017 04:13 pm
Welltower Inc. has tapped Wolf Commercial Real Estate as exclusive agent for the company's Southern New Jersey medical office portfolio. The assignment encompasses approximately 436,800 square feet of office space located in Moorestown and Washington Township, New Jersey. Headquarterd in Toledo, Ohio, Welltower is a real estate investment trust that owns more than...
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Hastings Ranch Plaza in Pasadena sells for $29.5m

Feb 13, 2017 04:10 pm
Federal Realty Investment Trust has picked up the 274,000 sqf Hastings Ranch Plaza in Pasadena, California. The trust acquired the leasehold interest in the shopping center for $29.5 million in cash. The retail center was 100 percent leased at the time of the sale Sears, Marshalls, HomeGoods and CVS. Hastings Ranch Plaza is located next to Interstate 210 at the...
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