Logivest facilitates 20,000 sqm lease for fulfilment provider in Bochum

Logivest successfully brokered the lease of a 20,000 square metre logistics property in Bochum for DAZ Lager & Logistik GmbH. The property, located at Karl-Lange-Straße 49, is owned by Boreal Im Ltd.

DAZ sought a centrally located facility in the Ruhr area to support its services, primarily aiding Chinese companies in global market expansion. Logivest secured two units within a modern logistics hall near the A40 motorway, complete with mezzanine and office space.

The state-of-the-art property, just a few years old, features ramps, ground-level gates, and a modern pick tower, which is included in the lease.

“This deal ensured a seamless follow-on lease for the owner and provided DAZ with a long-term solution—an ideal outcome for all parties,” said Kresimir Basic, Head of Industrial and Logistics at Logivest NRW GmbH.

DAZ Lager & Logistik GmbH has already taken occupancy of the space.

Union Investment secures letting success at Hamburg’s Ericus-Contor

The Catalan food manufacturer GB Foods, known in Germany for its ERASCO, HEISSE TASSE, and LACROIX brands, has leased approximately 1,100 sqm of office space in Hamburg’s Ericus-Contor. Part of the UniImmo: Deutschland portfolio since 2020, the property will house GB Foods’ German subsidiary under a ten-year lease starting mid-2025. The space is currently being tailored to the tenant’s needs, with the company’s headquarters and production site located in Lübeck.

“Since acquiring the Ericus-Contor in 2020, we have successfully let or extended nearly all of its 16,000 sqm of space. Negotiations for the last two vacant units are well underway, and we expect the building to be fully let soon,” said Sven Lintl, Head of Asset Management Germany at Union Investment.

Built in 2012, the Ericus-Contor at Ericusspitze 2-4 is a landmark office building with a striking spire and a double-skin glass façade featuring floor-to-ceiling windows. Its prime location along the Elbe connects HafenCity’s eastern gateway to the city center and the historic Speicherstadt warehouse district.

The property boasts excellent transport links, with Hamburg Central Station just 900 meters away and quick access to the motorway via Amsinckstraße. The Ericus-Contor also meets high sustainability standards, holding a DGNB platinum certification, Germany’s top sustainability award.

The lease transaction was facilitated by BNP Paribas Real Estate.

Pardubice to sell former Masaryk Barracks in smaller parcels for development

The city of Pardubice is set to sell the former Masaryk Barracks site, spanning approximately 10 hectares, to multiple investors rather than a single buyer. Mayor Jan Nadrchal (ANO) explained that the size of the site has made a single-developer sale unfeasible, despite its value and potential for residential development.

“While the land is valuable, it is too large for one developer to take on. The idea of securing a single buyer willing to pay a substantial sum has proven unrealistic,” said Nadrchal.

Developers were reluctant to commit to such a large-scale project due to the long-term investment required. The development of the entire site could take a decade, coupled with the cost of redeveloping old military buildings. Additionally, the local market can only absorb about 200 apartments annually, making it impractical to construct and sell 500–600 units at once.

In contrast, the city’s 2018 sale of the smaller 2.5-hectare Tesla site resulted in a single developer building housing for approximately 750 residents, a more manageable scale.

To address these challenges, the city plans to prepare a new land use study and sell the Masaryk Barracks site in smaller sections. “The city could also retain portions of the site for parking or build municipal apartments, which are in short supply,” Nadrchal added.

The city’s plans also include constructing a primary school for 540 students on the site. This year, eight old buildings will be demolished at an estimated cost of CZK 110 million, with school construction to follow. While state subsidies for the school have not materialized, the city is considering a loan to fund the project. “This is one case where councillors agree a loan is justified,” Nadrchal stated.

Built between 1922 and 1927, the barracks served as the base for a railway regiment. The site has been abandoned since 2011, with portions used as a parking lot since 2019. Most of the land belongs to the city, except for a smaller section owned by the state, where plans for a new employment office have faced repeated delays.

The city aims to transform the barracks into a vibrant mixed-use area, balancing residential development with public infrastructure to meet local needs.

Source: CTK
Photo: ods.cz

Indotek Group sells Bokserska Office Center in Warsaw

Indotek Group has finalized the sale of the Bokserska Office Center, an office complex in Warsaw. The buyer is Enter Air, a Polish charter airline, which plans to move its headquarters to the property.

The Bokserska Office Center, located in the Mokotów district, is a modern office complex with a strong track record of tenant satisfaction and operational excellence. Its strategic location near major transportation hubs, including Warsaw Chopin Airport and key arterial roads, has made it a prime choice for companies seeking high-quality office space in the Polish capital.

Indotek Group acquired the property as part of its expansion strategy in Central and Eastern Europe, focusing on identifying assets with strong growth potential. Following successful management and enhancement initiatives, the Bokserska Office Center became a standout property in the region’s office market.

“The sale of the Bokserska Office Center is a testament to our strategic approach to investment and asset management,” said a representative from Indotek Group. “This transaction reflects the success of our efforts to add value to the property and align it with the needs of today’s tenants.”

The buyer of the office complex has not been disclosed, but the transaction underscores the continued demand for high-quality office assets in Warsaw, particularly in well-connected districts like Mokotów.

Selcuk Polat appointed Head of Private Capital at Art-Invest Real Estate

Selcuk Polat, previously Managing Director Real Estate at UniCredit Bank AG’s North Rhine-Westphalia branch, has taken on the role of Head of Private Capital at Art-Invest Real Estate Funds. In this position, Polat will lead the development of the firm’s business with family offices and high-net-worth individuals.

Art-Invest Real Estate, known for its “manage to core” investment strategy, has established over 25 investment funds for institutional clients, including pension funds and foundations. The company currently manages real estate assets valued at approximately €12.5 billion, working with institutional investors, joint venture partners, and its own capital.

“Over 12 years of supporting projects on the financing side, I have observed Art-Invest Real Estate’s professionalism, risk awareness, and expertise in creating value. These qualities position us as a sustainable and trustworthy partner for family offices seeking long-term real estate investments,” Polat stated.

Jan Dührkoop, Managing Partner of Art-Invest Real Estate Funds, emphasized the firm’s commitment to tailored investor support, adding, “Expanding our offerings to family offices presents significant opportunities, leveraging our market presence and expertise.”

Kurt Zech, CEO of the Zech Group and a member of the supervisory board of Art-Invest Real Estate Funds, remarked, “I have known and respected Selcuk Polat for many years. His addition strengthens our ability to provide specialized services to family offices within Art-Invest Real Estate and the wider Zech Group.”

Polat’s leadership aims to enhance Art-Invest Real Estate’s position as a trusted partner for private capital investment in real estate.

Genesis Hospitality Partners: Transforming hospitality investments under Josef Filser

Genesis Hospitality Partners officially commenced operations at the start of the year, introducing a fresh, independent approach to investment and asset management in the hospitality property sector. With a focus on developing, optimizing, and enhancing the value of hotel properties, the company aims to deliver sustainable and measurable returns for investors and property owners alike.

The firm is helmed by its founder and Managing Director, Josef Filser, a seasoned and internationally recognized expert with over 13 years of experience in the hotel and real estate industry. Before founding Genesis Hospitality Partners, Filser held senior roles at leading global real estate firms, including JLL in London and Munich. Most recently, he served as Head of Hospitality for Germany and Austria at Cushman & Wakefield, where he oversaw transactions and advisory processes in the hospitality sector. Over the course of his career, Filser has facilitated the acquisition and sale of portfolios and individual properties valued at more than €1 billion. He holds an MBA in International Real Estate from the University of Regensburg (IREBS) and a BSc from the EHL Hospitality Business School.

Headquartered in Munich, Genesis Hospitality Partners focuses on existing properties with untapped potential, such as those with short remaining lease terms, over-rented spaces, or vacant possession. Operating across Germany, Austria, and Switzerland, the company engages with all hospitality asset classes, including hotels, resorts, serviced apartments, and hostels. Additionally, it evaluates mixed-use properties combining residential and commercial elements.

“The market is at the dawn of a new cycle,” said Josef Filser. “This is an ideal time to invest in hospitality properties. Current conditions—competitive pricing and a favorable financing environment—make this asset class, alongside residential property, exceptionally appealing for investors.”

Genesis Hospitality Partners offers end-to-end services spanning the entire investment lifecycle. Its offerings include investment advisory services with comprehensive commercial due diligence and asset management tailored to operational needs. Additionally, the firm engages in co-investments, partnering with clients on meticulously selected projects. This co-investment approach not only aligns Genesis Hospitality Partners with its clients’ goals but also demonstrates the firm’s confidence in the success of its ventures by sharing the associated risks.

With a combination of deep industry expertise, innovative strategies, and a commitment to shared success, Genesis Hospitality Partners is poised to make a significant impact in the hospitality property market.

Mitiska REIM secures €50 million co-investment from EBRD, raising MEREP 3 fund total to €290 million

Mitiska REIM, a European investor specializing in convenience real estate, has announced a €50 million co-investment from the European Bank for Reconstruction and Development (EBRD) into its MEREP 3 value-add fund. This co-investment, alongside other contributions, brings the total funds raised for MEREP 3 (Mitiska European Real Estate Partners 3) to €290 million.

MEREP 3, the third flagship fund from Mitiska REIM, focuses on value-add opportunities in convenience real estate across Europe. The fund targets high-demand sectors such as food-anchored retail parks, multi-let light industrial properties, self-storage facilities, and urban logistics projects. The strategy leverages increasing demand for urban infill locations offering accessibility, affordability, flexible design, and sustainability.

The EBRD will invest through its Belgian “private privak” investment vehicle, the EBRD CIV Fund, concentrating on Mitiska REIM’s Central and Eastern Europe (CEE) markets. Mitiska REIM will serve as the discretionary manager of the fund.

MEREP 3’s approach emphasizes light-to-heavy value-add investments, including repositioning, reconfiguring, and retrofitting existing properties, as well as risk-mitigated development projects. Building on the success of its predecessor funds, MEREP 3 has already committed €110 million to a diverse portfolio of convenience real estate assets and is actively evaluating further opportunities. The fund’s final closing is scheduled for Q1 2025, with expectations to exceed its initial fundraising target of €300 million.

Commenting on the partnership, Sylvie Geuten-Carpentier, Managing Partner at Mitiska REIM, stated: “We are thrilled to welcome EBRD as a co-investor alongside MEREP 3, supporting the growing investment opportunities we see in convenience real estate. As we approach the fund’s final closing, we are on track to surpass our original target of €300 million.”

Vlaho Kojakovic, Director of Real Estate at EBRD, emphasized the partnership’s alignment with sustainable development goals: “We are excited to collaborate with Mitiska REIM to advance green and sustainable commercial real estate assets across CEE markets. Mitiska REIM’s expertise and proven track record make them an ideal partner for driving these initiatives and delivering long-term value for all stakeholders.”

Axel Despriet, Managing Partner at Mitiska REIM, highlighted the strong market conditions supporting convenience real estate: “Throughout 2024, we’ve observed increasing tailwinds for convenience real estate driven by resilient fundamentals and robust occupier demand. We believe this year and next could represent exceptional opportunities, and Mitiska REIM’s specialist knowledge positions us to capitalize effectively.”

Barings completes c. €122 million logistics portfolio sale in Sweden

Barings has completed the sale of five Swedish logistics assets to the listed real estate company Swedish Logistic Property AB (SLP) for SEK 1.4 billion (c. €122m).

Sold on behalf of a pan-European Core strategy, four of the assets are in Norrköping and one in Örebro and have a total lettable area of 153,000 sq. m. PostNord rents three of the logistics assets, with the other two properties being rented by Yokohama and Mitsubishi. Barings acquired the assets on behalf of the strategy in 2020 and 2021 and, among other asset management initiatives across the portfolio, has developed a 31.000 sq. m logistics asset in Örebro, on the back of a signed pre-lease concerning 76% of the premises, achieving BREEAM “in use” Excellent and EPC A.

Norrköping is the fourth largest metropolitan area in Sweden and is home to the Port of Norrköping. The city, which is located close to Stockholm, serves as a crossroad for the E22 and E4 motorways and is one of the top logistics locations in Sweden.

Örebro is one of the Nordics’ best logistics locations given its strategic position in the Nordic triangle of Stockholm, Oslo, and Malmö/Copenhagen.

Closing is planned to take place on January 31st 2025, conditional upon the Swedish Inspectorate for Strategic Products having made a decision to approve the transaction or leave the transaction without action.

Andreas Norberg, Managing Director and Head of Nordics at Barings Real Estate, said: “Having executed our business plan against these assets, completing this sale marks the latest success for the local team, which has been delivering excellent asset management initiatives on our portfolio as well as having secured this deal off-market. With investment appetite for the logistics sector still strong heading into the new year, we are hopeful to continue this momentum and explore further value-add and core/core+ opportunities in the Swedish market. In addition to logistics, build-to-rent and build-to-sell residential are the major sectors we are focussing on across the Nordics.”

Gunther Deutsch, Managing Director and Head of European Transactions and Country Head Germany at Barings Real Estate, said: “Our latest sale in the Nordics, following the disposal of a Gothenburg logistic asset in early 2024, is a testament to our local asset management/development expertise in delivering quality assets that subsequently achieve beneficial returns for our investors. In total in 2024, we have signed, or are in exclusivity, on six logistics and seven residential development acquisitions across Europe, some of which are in the Nordics. We continue to seek investment opportunities with partners, including developer joint ventures or forward transactions, across our preferred jurisdictions of the Nordics, the Netherlands, Germany, Italy, France, Spain and the UK.”

Swiss Life Asset Managers expands logistics portfolio with 77,000 sqm new development near Hanover

Swiss Life Asset Managers is broadening its development portfolio with the acquisition of a 77,000-square-metre site near Hanover, the capital of Lower Saxony. The company plans to develop a cutting-edge logistics property on the site, offering over 44,000 square metres of rental space.

The newly acquired site is located in Wietze, northwest of Hanover, at Steinacher Strasse. The project, named Hanover North I, will be built on 77,500 square metres and is set to begin development in 2025. The property will feature a state-of-the-art logistics facility designed to meet modern industry standards.

“The Hanover region is a vital logistics hub for Germany and Europe, making it an ideal location for this project,” said Ingo Steves, Managing Partner Logistics at Swiss Life Asset Managers. “With Hanover North I, we strengthen our Europe-wide logistics pipeline, ‘Roots,’ by adding a high-quality and sustainable property. This aligns with our strategy of delivering long-term value in central European regions.”

Situated in Celle district, the site benefits from its strategic location within the northern German logistics triangle formed by Hanover, Bremen, and Hamburg. The area offers excellent connectivity to the A7 motorway and access to key multimodal infrastructure, including the Hanover-Lehrte freight transport centre, Hanover-Langenhagen cargo airport, and the Hanover container terminal.

The development will offer a total rental area of 44,182 square metres, divided into four units that can accommodate single or multiple tenants. This includes 37,882 square metres of warehouse space, 1,800 square metres of office and social facilities, and 4,500 square metres of mezzanine space. The site will feature four ground-level driveways for easy access.

Alexander Schmid, Head of Development Logistics at Swiss Life Asset Managers, highlighted the project’s adaptability: “With its high sustainability standards and flexible usability, this property is designed to cater to a variety of customer needs, reflecting our customer-centric approach.”

Sustainability is a key focus of the project, with plans to install heat pumps and a photovoltaic roof system for renewable energy generation. The property will aim for a BREEAM “Very Good” certification, further underscoring its commitment to environmental standards.

By integrating modern logistics solutions with sustainable design, Swiss Life Asset Managers continues to strengthen its footprint in Europe’s logistics sector while meeting evolving market demands. Development of Hanover North I is expected to play a pivotal role in advancing the company’s long-term growth strategy.

Slovak construction sector rebounds in November 2024 after six months of decline

After a prolonged period of contraction, the construction sector in November 2024 achieved comparable year-on-year results, marking a significant turnaround. The improvement was largely driven by increased output from international projects and robust growth in smaller components of domestic production.

Construction output for November reached €827.5 million, reflecting a year-on-year increase of 0.9%. This marked the first positive year-on-year result after six consecutive months of decline. Month-on-month, the sector also showed notable improvement, with construction production rising by 5.4%.

Despite the overall improvement, key components of domestic construction production remained in negative territory. New construction declined by 2.3%, while repairs and maintenance dropped by 2.5%. However, these declines were the smallest recorded since the beginning of 2024. The only domestic segment to show significant growth was “other construction works,” which increased by nearly one-third, though its contribution to overall domestic production remains relatively minor. Domestic construction production continues to account for nearly 90% of the industry’s total performance.

By construction type, building construction showed a positive trend, rising by 7.6% year-on-year. In contrast, engineering construction, including infrastructure projects such as highways, saw a further slowdown, with output decreasing by 11% compared to November 2023.

A major contributor to the sector’s recovery was the strong performance of construction companies operating abroad. International construction output increased by 18.7% year-on-year, raising its share in the total sector output to over 10%.

For the first 11 months of 2024, the total value of construction production reached €6.7 billion, representing a year-on-year decline of 5.9%. All components of domestic production experienced slowdowns, with new construction falling by 7.7% and repairs and maintenance declining by 3.5%. By focus area, building construction decreased by 3.2%, while engineering construction dropped more sharply, by 12.8%. In contrast, international construction output remained stable compared to the same period in 2023.

The November recovery offers a glimmer of optimism for the construction sector, though challenges remain in key domestic segments. The strong growth in international projects underscores the importance of diversification in driving overall industry performance.

Source: Statistical Office of the SR

« Previous 1 … 423 424 425 426 427 … 495 Next »

Latest news

All posts by fletcher@cijeurope.com.