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Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Corio acquires 1.3 billion Multi shopping centre portfolio Corio has purchased a 1.3 billion shopping centre portfolio from Multi. This ranks as one of the largest European retail portfolio transactions recorded to date. Corio was advised by Jones Lang LaSalle in the deal. The portfolio includes one centre in Spain and one centre in Portugal however the bulk of the portfolio is in Germany and is comprised of two operational centres, in Duisburg and Dresden and a pipeline of five develop- ment properties. Corio will additionally acquire part of the Multi manage- ment team in Germany which is currently 22 people strong. The development portfolio includes some strategically very strong centres such as Schlossstrasse, Berlin which when completed will be world class retail product in one of Europes most stable markets. The portfolio is of a very high quality and constitutes a new generation of shopping centres with a focus on innovative architecture that creates visually exciting retail space; Multis shopping centres have consistently won awards for both design and environmental qualities. The relationship between Corio and Multi is extended with a cooperation agreement between Corio and Multi that will give each of them rights of first offer on new projects in Germany for the next 5 years. Jones Lang LaSalle provided multi disciplinary teams in order to support Corio with both commercial advice and due diligence as well as valuation underwriting of the portfolio. Neil Lipscomb, Director, EMEA Retail Capital Markets, Jones Lang LaSalle said: This opportunity has enabled Corio to acquire a high class shopping centre portfolio in both its existing and new markets. Most importantly it has enabled Corio to acquire a platform in Germany. The German portfolio combines high quality standing assets with an unrivalled pipeline of develop- ment projects which will provide Corio with a supply of core product over the next few years from the leading shopping centre developer in Europe. Media firm Agora to buy 84 percent in cinema operator Helios Media firm Agora has signed an initial agreement to buy an 84 percent stake in cinema operator CF Helios from a group of private equity funds for 25 million, the firm recently announced. The price could be increased by 1 million, the statement added, dependent on the results of an independent assessment of Helios debts. The EBRD is supporting the modernization of Krakows public transport system EBRD funds modernisation of public transport in Poland The EBRD is supporting the modernisation of the infrastructure in Krakow, the second largest city in Poland, with a PLN99 million (23.6 million) loan to Miejskie Przedsiebiorstwo Komunikacyjne (MPK - Krakow Public Transport Company). Part of the Krakow Municipal Holding Company, MPK is the provider of public transport services in the city of Krakow, operating 95 percent of the existent urban transport routes, with the rest being managed by a private company. Structured under the EBRDs A/B loan scheme, PLN30 mil- lion will be syndicated to commercial banks, with the rest of the amount remaining on the EBRDs account. The proceeds of the loan, the first syndication in the municipal sector in Poland since the start of the crisis, will be used to finance the construction of a new tram line, refurbishment of tram tracks as well as the purchase of new trams in Krakow. Europaproperty is now hiring for the following positions: Advertising Sales, Marketing, Journalists / Proof Readers, Administration, Event Manager / Coordinator, Graphic Designer Please send your CV and indicate which position you are looking for by email to contacteuropaproperty. 12 OFFICE SPACE LISTINGS IN POLAND see inside! April 2010 Volume 4 No 4 (37) Monthly News Published by NEWS Poland well positioned to thrive Poland took centre stage for the first time at this years international real estate fair MIPIM. As a result, the country witnessed many events arranged for partic Commercial Real Estate News Volume 4 No 4 (37) April 2010 Salans advises Bonduelle Group in connection with its investments in Ukraine Salans has acted as a legal advisor in Ukraine to Bonduelle Group, in relation to its investment in the construction of a factory producing canned and frozen vegetab Commercial Real Estate News Volume 4 No 4 (37) April 2010 European housing showing signs of recovery Signs of recovery are visible in some European housing markets, especially in sales levels and prices, says the latest RICS European Housing Review. A significant number of European residential marke Commercial Real Estate News Volume 4 No 4 (37) April 2010 ProLogis leases nearly 70,000 sqm of distribution space in Central Europe ProLogis has announced that it has signed five new lease agreements in Central Europe, covering 68,800 sqm. Three lease agreements were signed in Poland, the first with Commercial Real Estate News Volume 4 No 4 (37) April 2010 Poland is well positioned to thrive after growth in 2009 say market professionals at EuropaPropertys Poland Breakfast Forum Poland took centre stage for the first time at this years international real estate fair MIPIM. As a result, the count Commercial Real Estate News Volume 4 No 4 (37) April 2010 The panel agreed that retail will be the strongest sector because the yields are so attractive. Retail has been holding up pretty well and that is coming across in our valuations, Chris Grzesik explained Going into more detail on why to inves Europaproperty.com provides comprehensive and up-to- date news, information and analysis on commercial real estate markets and related businesses. Through our printed and electronic publications, conferences and awards events we cover the whole of Central and Eastern Europe, Russia and the CIS. Subs Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Hypo Real Invest acquires Vyšehrad Victoria offi ce building in Prague Skanska Property Czech Republic is divesting its offi ce project, Vyšehrad Victoria, in Prague to HRI Immobilienfonds, of the Austrian Hypo Real Invest AG, f Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Corio acquires 1.3 billion Multi shopping centre portfolio Corio has purchased a 1.3 billion shopping centre portfolio from Multi. This ranks as one of the largest European retail portfolio transactions recorded to date. Corio w Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Galeria Kaskada GTC and Polnord join forces on retail project in Warsaw Globe Trade Centre S.A. (GTC) and Polnord S.A. (Polnord) have signed a term sheet of a joint venture for the development of a modern shopping centre on a 7 h Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS The awards were witnessed by 450 top industry professionals CEE RETAIL A W ARDS Pawel Debowski, Clifford Chance Martin Erbe, WestImmo Daniel Harris, MGPA and the region as a whole, is very much an active market and one that we ho Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS of the Year award. Chapman Taylor picked up Architectural Firm of the Year, Clifford Chance was awarded Law Firm of the Year and First Title took home the Professional Service Provider of the Year award. AWARD WINNERS Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS TriGranit share holders inspect Arenas construction progress IKEA s Port Lodz Arena Centar works ahead of schedule A delegation of TriGranit shareholders and executive management recently visited Zagreb to inspect the constructio Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Korczowa Dolina Serdika Center Korczowa Dolina offers new commercial venue for trading with Ukraine The investors of Korczowa Dolina Distribution Centre have recently received a building permit to construct the distribution centr Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Multi Corporation sells 35 percent of Forum Mersin to Union Investment for 68 million Multi Corporation and Union Investment have finalized an agreement to purchase the remaining 35 percent of the shares owned by Multi. Union Inv Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Polands first Family Point opens in Wroclaw Polands first Family Point has opened its doors in Wroclaw. The 9,000 sqm centre is one of only a few retail parks in the country and features a total of 17 shopping and recreational ou Commercial Real Estate News Volume 4 No 4 (37) April 2010 EuropaProperty presents the 5th annual SEE Real Estate Awards for 2009 Building on the success of the last four EuropaProperty SEE Real Estate Awards, EuropaProperty is proud to present the fifth annual SEE Real Estate Awards for 2009. The Aw Commercial Real Estate News Volume 4 No 4 (37) April 2010 Segro wins a new customer in Tulipan Park Ostrava The German company Erwin Quarder has become the latest customer in Segros Tulipan Park Ostrava, leasing a total of 4,220 sqm of warehouse space. Tulipan Park Ostrava is being developed on a 4 Commercial Real Estate News Volume 4 No 4 (37) April 2010 European investment volumes up 10 percent over last four quarters says DTZ Reflecting seasonal trends, the volume of commercial real estate investment across Europe posted a 29 percent quarter- on-quarter decrease to 16.3 billion, when compar Commercial Real Estate News Volume 4 No 4 (37) April 2010 Central Europe boosts industrial real estate market Central Europe continues to play a significant role on the industrial real estate map, and despite the rebalancing of the global economy, the market saw a number of major transactions; last Commercial Real Estate News Volume 4 No 4 (37) April 2010 People on the move Kirill Popov appointed as Executive Director at C&W in Russia Cushman & Wakefield has announced the appointment of Kirill Popov as an Executive Director. Kirill will focus on coor- dinating the activities of the offi ce, re Selected Offi ce Buildings in Commercial Real Estate News Poland List your available office space in the May edition of The Wire for only 99. Deadline April 25th. Volume 4 No 4 (37) April 2010 photo name of building address net price (per sqm) class total space /available /minimum available investor Commercial Real Estate News Volume 4 No 4 (37) April 2010 Selected Offi ce Buildings in Poland, cont d photo name of building address net price (per sqm) class total space /available /minimum available investor contact agency contact Advertise your SUBLEASE offi ce space in The Wire for only 99 per The Commercial Real Estate NEWS E.C.E. Property Media ul. Łucka 15, 00-842 Warsaw, Poland iption ubscr t: s ac trial for a lease cont perty.com p pro opa eur eting mark Publisher Craig Smith craigeuropaproperty.co +48 604 144 769 Editorial Director Winston Norman winstoneuropaproperty. +48 (22) 586