CTP acquires 18-hectare site near Poznań for 50,000 sqm business park

CTP has announced the acquisition of an 18-hectare site in the Poznań district for the development of a new business park spanning approximately 52,000 sqm. The project marks CTP’s 20th business park in Poland and its first investment in the Wielkopolska region.

Construction is set to begin in the second half of 2025, with the first building expected to be completed by early 2026. The development will include a warehouse and production complex, offering a range of leasing options tailored to different business needs.

According to Krzysztof Moryson, Construction Director at CTP Poland, the investment in Poznań represents a strategic expansion for the company. He noted that while over a third of CTP’s Polish business parks are located in the Warsaw metropolitan area, the developer is also active in key logistics hubs such as Pomerania, Silesia, and the western border region. The Poznań region, recognized as one of Poland’s most developed business and economic centers, was selected due to its strategic location and connectivity to other parts of Poland and Germany.

The new business park will follow a multi-tenant model, allowing companies from various industries and business sizes—from small and medium-sized enterprises (SMEs) to multinational corporations—to establish operations in a shared facility. Rental space options will be highly diversified, catering to businesses with both large-scale and smaller-scale operational needs.

Sandra Winiarska, Business Developer at CTP Poland, highlighted the versatility of the project, stating that the upcoming CTPark near Poznań will offer a mix of big-box warehouses (CTSpace) and smaller business units (CTFlex and CTBox), with leasable areas ranging from 500 sqm to 1,500 sqm GLA. She emphasized that the mixed-use model is gaining traction in the Polish warehouse and production market, responding to the rising demand for flexible space solutions near major urban centers.

The acquisition follows CTP’s recent announcement of the CTPark Warsaw Janki production and logistics complex, which will feature seven facilities with a total leasable area exceeding 45,500 sqm. With continued investment in Poland’s logistics and industrial sectors, CTP is further expanding its footprint and reinforcing its position as a key player in the region’s commercial real estate market.

Photo: Krzysztof Moryson, Construction Director at CTP Poland

Griffin Capital Partners expands presence with new office in Germany

Griffin Capital Partners (GCP), a privately-owned investment and asset manager specializing in private equity and real estate across Central and Eastern Europe (CEE), Germany, and other EU markets, has announced the opening of a new office in Germany. This expansion follows a series of high-profile transactions in the region, including the acquisition of Bauwert in April 2023.

The newly established Griffin Capital Partners Germany will be led by Marcel Hertig, who has been appointed Managing Director and Head of Germany. Hertig brings over 15 years of experience in real estate and private equity investment, having previously managed German investments at Patron Capital and led real estate private equity activities in Germany and the BeNeLux region as Investment Director at TPG Angelo Gordon. In his new role, he will oversee investment opportunities, asset acquisitions, and strategic projects, including Griffin’s operations tied to Bauwert, one of Germany’s leading real estate developers.

Nebil Senman, Co-Owner and Managing Partner at Griffin Capital Partners, emphasized the importance of the German market for the company’s strategic growth. He stated that the establishment of a local presence under the leadership of an experienced expert like Marcel represents a significant step in Griffin’s expansion strategy. He highlighted Germany’s evolving political and economic landscape as a key driver of investment opportunities and expressed confidence that this move would enhance value for investors and partners.

Marcel Hertig, Managing Director at Griffin Capital Partners Germany, expressed enthusiasm for his new role, noting that Germany holds immense potential as an investment market. He underscored the company’s focus on identifying high-quality investment opportunities and leveraging Griffin’s expertise to drive impactful projects and long-term value for investors.

The expansion into Germany aligns with Griffin Capital Partners’ broader strategic goals. Maciej Dyjas, Co-Owner and Managing Partner at Griffin Capital Partners, highlighted the firm’s recent growth initiatives, including the development of StudentSpace, a new student housing platform, and OnTrain, a rail leasing platform offering modern locomotives to European rail operators.

Griffin Capital Partners has already established a strong foothold in Germany, completing significant transactions in real estate and logistics. In April 2023, the firm, in partnership with WING Group, acquired a 60% stake in Bauwert, with the remaining 40% retained by existing shareholders. In 2022, Griffin’s logistics investment platform, International Industrial Properties (IIProp), sold two BTS projects valued at over EUR 110 million, developed for a global e-commerce leader. The firm also successfully sold two grade-A logistics projects in 2023 for over EUR 40 million.

The expansion into Germany reflects Griffin Capital Partners’ commitment to delivering tailored investment solutions and strengthening its presence in key European markets. With a strong track record in real estate, logistics, and private equity, the firm is set to further solidify its position as a leading investment partner in Germany’s dynamic market.

Photo 1: Nebil Senman, Co-Owner and Managing Partner at Griffin Capital Partners and Maciej Dyjas, Co-Owner and Managing Partner at Griffin Capital Partners
Photo 2: Marcel Hertig, Managing Director at Griffin Capital Partners Germany

MLP Group appoints Maciej Müldner as new CFO to drive financial growth

MLP Group, a European logistics and industrial real estate platform, has appointed Maciej Müldner as its new Chief Financial Officer (CFO). The move is part of the company’s strategy to strengthen its financial structures and support its continued expansion in the European market.

Müldner, an experienced finance executive, brings nearly 20 years of expertise in corporate finance and treasury operations, having held key leadership roles at Skanska Group, Dentsu Group, Echo Investment, and Archicom. His extensive experience in financial management, risk mitigation, and corporate strategy will play a crucial role in enhancing MLP Group’s financial strategy and driving its dynamic growth.

“Strengthening MLP Group’s position in the European market is a key strategic priority,” said Radosław T. Krochta, CEO and President of the Management Board of MLP Group S.A. “The appointment of Maciej Müldner as CFO is a significant step in reinforcing our financial team. His vast industry experience and strategic approach to finance will be invaluable in executing our ambitious expansion plans.”

Müldner’s career includes nearly two decades at Skanska Group, where he managed treasury operations and financial strategy for the company in Poland and Germany between 2002 and 2011. He has also played a key role in shaping financial strategies for real estate development companies, contributing to the growth and modernization of corporate finance at firms such as Skanska Property (Commercial Development), Echo Investment, and Archicom.

Before transitioning to the real estate sector, Müldner built his finance career in banking, working at institutions like Deutsche Bank and Bank Austria. He holds a degree in Management from the University of Warsaw and is an active member of the Polish Corporate Treasurers Association.

Beyond his professional pursuits, Müldner is passionate about mountains, rock music, and visual arts.

His appointment marks a new chapter for MLP Group, reinforcing its financial leadership and positioning the company for continued success in the European logistics and industrial real estate sector.

Blue City reports stable growth and expands retail, entertainment, and green initiatives

Blue City Shopping and Entertainment Centre, located in Warsaw’s Ochota district, has maintained a stable commercial performance in 2024, driven by new tenant acquisitions, lease renewals, and sustainability initiatives. The mall continues to expand its retail and entertainment offerings, while also implementing eco-friendly solutions, including the launch of a new electric vehicle charging hub.

Covering 63,000 sqm, Blue City is home to 200 retail stores, service outlets, dining options, and entertainment facilities, including Helios cinema, Inca Play children’s playroom, fitness clubs, a climbing wall, a billiards club, and a mini golf course. Its commercialisation strategy focuses on creating a family-friendly shopping destination with a carefully curated tenant mix.

The year 2024 saw the signing of nine new lease agreements, covering approximately 5,000 sqm, while over a dozen lease renewals were finalized for around 7,500 sqm. One of the most notable additions was a new C&A store, featuring a modern concept, self-service checkouts, and energy-efficient lighting. The 2,000 sqm store, offering women’s, men’s, and children’s collections, opened in September on Level 0, becoming the seventh C&A location in Warsaw.

Additionally, Roger Publishing, founded by popular blogger Mama Gynaecologist, launched its first brick-and-mortar store in June 2024, offering clothing, cosmetics, and accessories. The Spanish phone accessories brand Kamalion also selected Blue City as a key location for its Polish expansion, opening a store in spring 2024. Later in the year, H&M unveiled a revitalized, modernized store following a major renovation.

Blue City has also broadened its entertainment offerings, with the opening of Złota Bila Billiards Club in winter 2024. Spanning 2,000 sqm, the venue features 40 billiard tables and 8 darts lanes, making it the largest billiards facility in Poland under one roof.

As part of its ESG strategy, Blue City has committed to achieving climate neutrality by 2050. A major step toward this goal was the launch of a new electric vehicle charging hub in September 2024, in collaboration with Polenergia eMobility. The eight-car charging hub was developed as a relaxation zone, integrating greenery and urban design elements as part of the centre’s energy modernization project with Polenergia Group.

Reflecting on 2024, Anna Gut, Leasing Director at Blue City, emphasized the mall’s steady development and ongoing investment in its infrastructure.

“The year 2024 has proven to be a stable year for us, thanks to both our management strategy and the confidence of our tenants. We continue to enhance our retail offer with brands that attract customers. I am pleased that in the past year, both international retail giants and local businesses have chosen Blue City for their stores. Further openings are planned for the first quarter of 2025, and we are also set to begin infrastructure investments prepared last year,” Gut commented.

With new store openings, expanded entertainment options, and a strengthened commitment to sustainability, Blue City continues to position itself as one of Warsaw’s premier shopping and leisure destinations.

NOBU Hotel Warsaw becomes first Polish hotel to join prestigious small Luxury Hotels Network

NOBU Hotel Warsaw, a standout in design and style at the heart of Poland’s capital, has become the first hotel in Poland to join the exclusive Small Luxury Hotels of the World (SLH) network, which is affiliated with Hilton. This strategic partnership not only provides guests with new booking opportunities but also offers exclusive benefits, further elevating the hotel’s position in the global luxury hospitality market.

As part of the SLH network, NOBU Hotel Warsaw joins a curated collection of independent boutique luxury hotels globally, all recognized for their exceptional standards in comfort, service, and aesthetic. SLH properties are known for their intimate atmosphere, refined elegance, and unwavering commitment to guest satisfaction.

In addition to joining the prestigious network, NOBU Hotel Warsaw is now part of the Hilton Honors loyalty program, which boasts over 200 million members. Guests can now book directly through Hilton.com, earning Honors points for stays at the hotel, which can be redeemed for exclusive rewards. This partnership greatly enhances the hotel’s global exposure, reinforcing its presence in the luxury hospitality sector.

Stefan Bauer, General Manager of NOBU Hotel Warsaw, commented, “Being part of Small Luxury Hotels of the World is a testament to the unique character and high status of NOBU Hotel Warsaw on the European hotel map. This recognition underscores our commitment to creating a luxurious destination that combines elegance, authenticity, and top-tier service. Our dedicated team’s focus on guest comfort and satisfaction has made this achievement possible.”

Daniel Luddington, Vice President of Development at SLH, added, “NOBU Hotel Warsaw aligns perfectly with the philosophy of Small Luxury Hotels of the World, offering exceptional architecture, bespoke experiences, and personalized service. We are excited to welcome this iconic property to the network and confident that the partnership will attract even more guests seeking a truly extraordinary experience.”

This collaboration aligns with the core values of the NOBU brand, founded by Robert De Niro, Meira Tepera, and Chef Nobu Matsuhisa, which prioritizes a highly personalized approach to hospitality. At the heart of NOBU’s philosophy is creating unique moments for guests, turning every stay into a remarkable experience.

This strategic partnership marks a significant milestone in the development of NOBU Hotel Warsaw, solidifying its position as one of the finest luxury hotels in the region and providing guests with even more opportunities to enjoy sophisticated and unforgettable experiences.

Aging population could drive down property prices in smaller Czech cities

Residential property prices in smaller Czech towns and cities with up to 50,000 inhabitants could decline or at least slow in growth over the next decade due to demographic changes. A significant portion of housing stock in these areas is owned by people over 70 years old, and as they pass away, a wave of inheritance sales could lead to an oversupply, outpacing demand. This trend was highlighted in a new analysis presented by real estate data platforms Flat Zone and Dataligence.

The most significant price drops are expected in towns with populations between 5,000 and 10,000, where the time to sell properties may also increase. Between 1945 and 1955, approximately 1.9 million children were born in what was then Czechoslovakia. Today, members of this baby boomer generation, who are now at least 70 years old, collectively own more than 367,000 apartments (19.3% of the total housing stock) and nearly 500,000 family houses (25% of all houses in the country).

According to the data, 42% of seniors own two-room apartments (2+kk), while 44% own three- and four-room apartments (3+kk and 4+kk). Additionally, 67% of elderly homeowners reside in prefabricated housing. Milan Ročko, founder of Dataligence, stated that the effects of aging on the housing market will become apparent within the next three to five years. However, Prague, Brno, and other large regional cities are unlikely to experience price declines, as urban migration is offsetting population loss due to aging.

“The demographic shift among baby boomers will fundamentally alter long-standing trends in the Czech real estate market,” Ročko said.

According to the data, the Czech Republic has approximately 1.9 million apartments and two million family houses, mostly located outside large cities, particularly in the Central Bohemian Region. Around 600,000 flats in brick houses, many built in the 1960s, are spread across various towns, while more than one million prefabricated flats, mostly dating from 1960 to 1990, are concentrated in larger cities. The country has around 70,000 prefabricated buildings in total. Meanwhile, newer apartments built since 1995 account for 300,000 units, with 80% of them located in Prague and regional hubs.

At the start of this year, Flat Zone and Dataligence merged into a single entity under the Flat Zone brand. Previously, Flat Zone specialized in residential development data, while Dataligence provided real estate insights for banks and insurance companies. Their combined expertise aims to enhance real estate market analysis in the Czech Republic.

Source CTK

Czech Republic seeks to join EU legal case against Hungary’s sovereignty law

The Czech Republic has officially requested to join the European Commission’s legal proceedings against Hungary over its controversial national sovereignty law, the Czech Ministry of Foreign Affairs confirmed to the Czech News Agency. The request was submitted to the Court of Justice of the European Union (CJEU) at the end of January, positioning Prague as an ancillary party in the case.

The European Commission (EC) launched legal action against Hungary in October 2024, arguing that the sovereignty law violates EU regulations. Hungary’s parliament approved the legislation in December, with the ruling Fidesz party claiming it is necessary to protect the country from foreign political interference. The law bans foreign financing of political parties and imposes prison sentences of up to three years for violations. It also mandates the creation of an Office for the Defense of Sovereignty, tasked with identifying and addressing foreign influence in Hungarian politics.

Critics argue that the legislation is another step in Hungary’s long-term crackdown on political opposition, accusing the government of using sovereignty concerns as a pretext to stifle dissent.

“We have indications that twelve other EU member states are seriously considering or have already completed internal procedures to join the case,” said Czech Foreign Ministry spokesman Daniel Drake.

The case marks another high-profile legal confrontation between Hungary and the European Union, as concerns grow over the country’s adherence to democratic principles and EU laws.

Source: CTK

HIH Invest sells mixed-use property in Bonn to German family office

HIH Invest Real Estate (HIH Invest) has completed the sale of a residential and commercial building in Bonn city centre to a German family office as part of an asset deal. The property, located at In der Sürst 3, was originally acquired by HIH Invest in 2019 for one of its managed funds.

The building offers a gross lettable area of 1,911 square metres, comprising 1,158 square metres of retail and hospitality space, 502 square metres of office and practice units, 190 square metres of residential space, and 61 square metres of storage. The fully leased property’s main tenant is L’Osteria, a well-known restaurant chain.

“Despite the challenging market environment, we successfully placed the residential and commercial building on the market after an intensive marketing process,” said Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare at HIH Invest. He noted that family offices with strong credit ratings remain active in acquiring core and core+ properties.

Originally built in 1997 and refurbished in 2013, the mixed-use property enjoys a prime location in a high-traffic pedestrian zone in central Bonn. It is within a five-minute walk from Münsterplatz, the university, and the main train station, making it highly attractive for both tenants and investors.

Real estate agency Lührmann played a role in marketing the property.

Photo: Jens Nagelsmeier, Head of Transaction Management Retail & Healthcare at HIH Invest

Czech Republic sees sharpest decline in real wages across EU

Real wages in the Czech Republic have dropped by 10% since the end of 2019, marking the steepest decline among all EU countries, according to an analysis presented today by XTB chief economist Pavel Peterka. Despite a 27% nominal wage increase over the same period, high inflation has eroded purchasing power, leaving Czech workers worse off in real terms.

The Czech Republic’s accumulated wage decline outpaces all other EU nations. Italy recorded the second-largest drop, with real wages falling by 5%, while the eurozone average decline stands at just 1%. On the other hand, Bulgaria saw the highest real wage growth, with wages rising 36% since 2019.

The primary driver of this wage erosion is one of the highest inflation rates in the EU. Since 2019, Czech consumer prices have surged by 41%, trailing only Poland (42%) and Hungary (52%). However, both Poland and Hungary experienced faster nominal wage growth, cushioning the impact of inflation more effectively than the Czech Republic.

Peterka identified low labor productivity—especially in construction and agriculture—as a major barrier to wage growth. Additionally, limited workforce mobility and a reluctance among employees to change jobs have further slowed wage increases. “It is empirically proven that changing jobs results in higher wage increases than negotiating with a current employer,” Peterka noted.

The analysis predicts that nominal wages will rise by 6-7% in 2025, translating to a real increase of 3.5-4.5%. However, wages are not expected to return to pre-pandemic levels until 2026. The strongest wage growth is expected in manufacturing, healthcare, and specialized industries, where employers must boost salaries to retain skilled workers.

Despite these positive trends, risks remain. Economic stagnation in Germany, the Czech Republic’s largest trading partner, and the potential for trade wars could dampen wage growth prospects, Peterka warned.

As the Czech economy gradually recovers, rising consumer demand is expected to ease employer caution around wage increases, providing some relief to workers who have faced years of declining real earnings.

Source: CTK

WDP reports record financial results for 2024, reinforces European growth ambitions

WDP has announced its financial results for 2024, marking a historic year with exceptional financial and operational performance. The company reinforced its position as a leading European logistics real estate platform through significant investments and strategic expansions.

Strong Financial Performance

EPRA Revenues: WDP reported €333.7 million in EPRA revenues for 2024, a 15% increase compared to the previous year. This growth was fueled by pre-leasing projects, acquisitions, organic expansion (+2.6%), and an 8% rise in shares following capital consolidation.

Occupancy and Market Dynamics: As of December 31, 2024, WDP maintained a high occupancy rate of 98%. Amid rising market rents, the company successfully renegotiated contracts for 500,000 m² of gross lettable area (GLA), achieving an average rental increase of +12%. The profitability potential of the existing portfolio stands at approximately 11%.

Portfolio Revaluation and Equity Return: WDP recorded a positive portfolio revaluation of +€154.9 million (+2% YTD), including a Q4 2024 gain of +€46 million. This was driven by latent capital gains from recent projects and acquisitions. The company’s return on equity increased by 10%, reaching an EPRA NTA of €21.1 per share.

Financial Strength: With a gearing ratio of 38%, net debt/EBITDA (adjusted) of 7.2x, and €1.7 billion in undrawn credit lines, WDP remains well-positioned to pursue further investment opportunities.

Strategic Expansion and Future Growth

Towards a €10bn+ European Real Estate Platform: WDP’s high-quality and diversified portfolio now stands at €8 billion, serving as critical supply chain infrastructure. The company’s active development pipeline adds another €1.1 billion in assets. Management restructuring, including the appointment of a new Country Manager for France and a new COO, will further support its European expansion.

#BLEND2027 Targets Confirmed: WDP remains on track to achieve its earnings target of €1.70 EPRA per share by 2027, driven by its investment strategy and execution capabilities.

2025 Outlook: WDP projects EPRA earnings per share of €1.53 in 2025, reflecting a +7% increase. A dividend per share of €1.23 is estimated for 2025, payable in 2026.

Key Developments in Romania

Market Leadership in Romania: WDP holds a €1.5 billion portfolio in Romania, comprising 1.95 million m² of leasable space across 79 strategic locations.

Stake Acquisition in WDP Romania: After 15 years of successful growth, WDP acquired its Romanian partner’s 15% stake in WDP Romania. The partner remains Country Manager and will continue supporting the company’s expansion.

EIB Financing Package: WDP secured a €250 million financing package from the European Investment Bank (EIB) to fund renewable energy projects, including solar panels, batteries, and EV charging infrastructure. These investments will be implemented across Western Europe and Romania through 2027.

IFC Financing for Romania: In Q1 2024, WDP finalized a €300 million green sustainability-linked loan with IFC, a member of the World Bank Group. The loan, with a maturity of up to eight years, will finance new logistics developments in Romania, aligning with WDP’s sustainability strategy and expanding its solar power capacity.

With strong financial performance, strategic acquisitions, and sustainability-driven investments, WDP is well-positioned for continued growth and leadership in the European logistics real estate sector.

Photo: WDP Bucharest

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