The four-year bonds will have a fixed coupon of 0.875 pct and the seven-year bonds will have a rate of 1.625 pct. for the 7-year tenor, and are expected to be rated BBB by S&P, in line with the corporate rating. The net proceeds will be used to finance or refinance, in whole or in part, new or existing green projects or assets.
This strategic transaction increases our liquidity, diversifies our debt financing sources, and extends our average debt maturities. In order to ensure substantial and flexible liquidity for the Group, we signed a EUR 750 million revolving credit facility with our banking group in December 2021. Logistics real estate continues to exhibit strong fundamentals with favourable long-term supply and demand trends. These factors, together with P3’s robust credit metrics and our strong shareholder, enabled us to receive a BBB credit rating from S&P with Stable outlook. With P3‘s recent financing transactions, we have created a strong capital-markets-facing funding platform to access the bond markets to refinance future debt maturities and fund further growth of the portfolio at attractive terms.
Ben Helsing, P3 Logistic Parks Group Treasurer and Head of Debt Investor Relations
BNP Paribas, Deutsche Bank AG, HSBC, ING Bank, J.P. Morgan acted as Active Joint Bookrunners, CA-CIB, SMBC Nikko, UniCredit as Passive Joint Bookrunners with BNP Paribas and HSBC as Joint Green Structuring Agents. Rothschild & Co acted as independent financial advisor and White & Case acted as legal advisor on all financing transactions.
Cordia, Hungary’s leading residential property developer, is adding more than 500 homes to its supply in three developments. This autumn, the company puts up more than 500 apartments for sale in the Hungarian capital’s most popular green belt and city centre locations. The new buildings’ energy ratings will be AA, meaning that their energy consumption is extremely low.
The first phase of Budapest One, located at Őrmező, the largest multimodal transport hub in Hungary, has received WELL Platinum certification. The office building is the first in Hungary to meet the highest requirements of the International Well Building Institute (IWBI).
According to Savills, the total investment volume for Purpose Built Student Accommodation (PBSA) in Europe reached 11.7 billion euro in the first three quarters of 2022, a 130 pct increase on the same period in 2021 and a record high.
Colliers has taken over the management of the Tensor office complex in Gdynia, which belongs to a partnership between Czech open-ended real estate fund Investika and Luxembourg private equity investor Bud Holdings. Colliers’ regional office will also support the owner in the commercialisation of the property.
The Fortis Group, which is developing retail parks under the Premium Park brand, is currently planning the construction of five more facilities. Shopping centres in the smaller and smaller Polish towns remain of interest to developers, tenants and international investors.
CTP reports strong like-for-like rental growth of 4.3 pct and occupancy improvement – while expanding its portfolio to 9.9 million sqm and realising a yield-on-cost of above 10 pct.
Commercecon has completed the construction of a plant for SungEel Hitech Poland. Battery recycling for the automotive industry will start soon in Bukowice, Lower Silesia.
A global provider of interior design products is joining MLP Poznań West as a new tenant. Cosentino Poland will occupy a total of over 4,100 sqm of modern space that will also include a showroom. The facility is slated for handover in early 2023.
7R has completed the sale of 7R Park Goleniów II to Macquarie Asset Management. The BTS format warehouse in Goleniów, near Szczecin, comprises of 62,500 sqm of modern logistics space and 3,100 sqm of office space. The facility is fully leased to Fiege, a German e-commerce company.
Construction of the last hall at GLP Kraków Airport Logistics Centre is underway. Cummins will be the main user of the new facility, which is being constructed within the GLP logistics park in Modlniczka near Kraków. The building is expected to be ready next spring.
Panattoni has signed another contract with a logistics operator. Hart Logistics has started using warehouse space in Panattoni Park Pruszków V a month after signing its lease agreement.
US real estate investor Prime Kapital has announced that it is to develop a large-scale urban regeneration project on a brownfield site in Cluj-Napoca in northwest Romania.
Prologis is to develop a new 10,000 sqm building for BMW at Prologis Park Bratislava, where the German automotive group is an existing tenant.
Strabag Real Estate has begun the demolition of Galeria Plaza in Kraków to make way for its development of a multifunctional complex.
Vienna-based S Immo has finalised the acquisition of eight office buildings and a plot of land in Budapest from its new parent company and majority shareholder, Prague-based CPI Property Group, for EUR 238.3 mln.
The current geopolitical situation has destabilised energy markets, with the real estate also affected by rising electricity prices. Existing buildings account for close to 55 pct of energy consumed by the construction industry globally and for over 35 pct of greenhouse gas emissions, while almost 75 pct of buildings in the European union fail to meet energy performance requirements.
Office investment dominated the first half of 2022, as the most traded asset type in the CEE countries. It accounted for 2.5 billion euro which was 42 pct of the total investment volume in the region – reveals a new report by Colliers.
According to a report published by real estate advisory firm Newmark Polska, vacancy rate held firm in Poland’s regional city office markets throughout Q3 of this year along with the moderate occupier and developer activity.
Panattoni has completed the first zero-emission factory in the global portfolio of Danfoss – Danfoss is a producer of energy- efficient components and technological solutions for sectors that include cooling and air-conditioning, heating and electric motors. The investment has been built as part of an industrial campus in Grodzisk Mazowiecki.
Axi Immo has presented data summarizing Q3 2022 in the Polish office market. The end of 2022 completes the dynamic new supply period observed in recent years and marks a continuation of the good run in the office market take-up.
According to Savills, the total investment volume for Purpose Built Student Accommodation (PBSA) in Europe reached 11.7 billion euro in the first three quarters of 2022, a 130 pct increase on the same period in 2021 and a record high.
Vienna-based S Immo has finalised the acquisition of eight office buildings and a plot of land in Budapest from its new parent company and majority shareholder, Prague-based CPI Property Group, for EUR 238.3 mln.
Łużycka Office Park (A, B, C and D) and Łużycka Plus buildings in Gdynia have been acquired from SGPM by a joint venture between Czech real estate open fund Investika and Luxembourg private equity investor Bud Holdings.
Catella has sold two fully-leased residential and student housing properties in Warsaw and Kraków to institutional investors in Austria and the Netherlands for more than EUR 60 mln.
According to a survey conducted by Savills involving real estate investors with total EME assets under management exceeding EUR 500 bln, European multifamily, big box logistics, urban logistics, CBD offices and student housing are the top five sectors that investors are looking to invest in over the next twelve months.
Forte Partners has sold the first phase of its U Center office development in Bucharest to Pavăl Holding for an undisclosed sum.
Slovakian developer HB Reavis has completed the acquisition of 50 pct stakes in the Port Praski City II and Port Praski Medical Center projects in Warsaw’s Praga district from Cyfrowy Polsat for app. 24.3 mln.
Hungarian developer Wing has sold the Máriássy House office complex in central Budapest to Grawe Immo for an undisclosed sum.
Ghelamco Poland has sold the Prochownia Łomianki retail park in northern Warsaw to LCP Properties Group for an undisclosed sum. The centre, with a total area of 5,500 sqm, includes 21 retail and service units.
DL Invest Group has entered the Warsaw office market with the acquisition of the 14,000 sqm Iris office building in Warsaw from a subsidiary of CPD Group for almost PLN 104 mln.
Equilis and Acteeum, which recently sold Galeria Andrychów in southern Poland for EUR 40 mln, have announced that they will invest the profits from the sale of their joint project in further expansion in Poland.
Macquarie Capital has provided Polish developer and investor DL Invest Group with a EUR 123.4 mln loan to finance the further growth of its portfolio.
S Immo has signed a letter of intent with Hungarian subsidiaries of CPI Property Group and Immofinanz to acquire a portfolio of 15 office properties in Budapest with a total leasable area of almost 250,000 sqm.
Romanian developer Iulius has obtained a EUR 410 mln real estate loan – the largest ever granted in the country’s history.
Italian investor Generali Real Estate has completed the acquisition of MDC2 Park Kraków South, which has a planned area of more than 90,000 sqm gla, for an undisclosed sum.
S Immo has announced details of the change in its strategy following its recent takeover by CPI Property Group. This will involve the sell-off of its German residential properties.
Four warehousing parks – three in Poland and one in the Czech Republic – have been added to the portfolio of the Accolade Industrial Fund.
Panattoni has sold a BTS development project in Stargard in northwestern Poland to a Dortmund-based investor for EUR 53 mln.
Prologis has acquired a warehouse portfolio across Europe of 1.14 mln sqm from Crossbay for EUR 1.585 bln – including a logistics park in Łódź – in one of the largest transactions in the sector this year.
Czech developer and investor Passerinvest has re-acquired the Gamma building in the Brumlovka office park in Michle (Prague 4) from Austrian real estate group Immofinanz.
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