July 2021

How retail-based mixed-use-projects should be developed in order to be successful in modern-day Ukraine.

Project Solar is gradually picking up pace. By the end of this year 28,000 solar panels will be installed to supply green power to local tenants. To reach this ambitious target, the first successful partnerships with Auto 5, Brico, C&A, Carrefour and Krëfel have already been established. Project Solar is part of Redevco’s Mission 2040, the European real estate investment manager’s commitment to making its assets under management CO2 neutral by 2040.

Peter Ballon, global head of real estate for CPP Investments, has been appointed as the new global chair of the Urban Land Institute (ULI). Ballon will serve on a voluntary basis for a two-year term and will provide member leadership as the Institute focuses on three new global mission priorities: decarbonization, education, and housing.

One of Warsaw’s most recognizable restaurant brands, the famous Blue Cactus Restaurant&Bar, will soon return to the capital’s restaurant map. The new nearly 450 sqm. restaurant and bar will complement the strong gastronomic offer planned for Norblin Factory, revitalized by the Capital Park Group in Warsaw’s Wola district.

The supply of grocery stores at Iso Omena will continue to be strong in the coming years, as Kesko and HOK-Elanto have entered into long-term extension agreements with Iso Omena. Iso Omena’s comprehensive grocery offering was also reflected in last year’s result, as Iso Omena became the largest shopping centre in Espoo and the second largest in the whole country in terms of sales.

Shopping center investor Deutsche EuroShop AG recently concluded new credit agreements in June 2021 for three loans maturing in 2021. The refinancing for the loans totalling €154 million has interest rates of between 1.18% and 1.64% and a term of ten years.

Newsec Property Asset Management has made an agreement with a new Managing Director of the Danish division of the Nordic property asset manager. The new Managing Director, Kim Andersen, joins the company from a position as Vice President of the insurance company, If Skadeforsikring. As from 1 September 2021, Kim Andersen will lead the 575 employees based in Denmark and join the Nordic management team of Newsec.

Venture X, led by Tom Foster and Andrew Ross in the UK and Ireland, has secured its second location at 1 Ariel Way, Westfield London for 19,077 square foot, with an agreement for a long-term lease commitment. The company, which originally started in Naples, Florida, is part of the United Franchise Group.

The construction of the Era Park facility in Warsaw is progressing according to schedule, and the official opening is scheduled for November this year. Mallson Polska, the company responsible for the commercial concept and rental, is also working with the owner of the chain on the lease of another Era Park project, which will be built in Iława.

Knightswood Shopping Centre, in the Knightswood area of Glasgow is fully let for the first time in three years after LCP, the commercial property and investment company that manages the centre, signed up three tenants in just six weeks.