TARA HR CONSULTING

PROJECT MANAGER - KRAKOW

A client of mine (international developer) are looking for a project manager for tenant fit outs. The development is an A class scheme in Krakow consisting of 30,000sqm. The first tenants have been signed and now fit out works need to begin. The person does not have to be from Krakow but must expect to be there for at least 4 days per week.

For more details please contact me on mark@tarahrc.com

Site acquistion manager

My client is a major developer in Poland, involved in residential, office, retail. They are looking for a site acquistion specialist to join their team in Warsaw.

The candidate should be able to acquire the plot and later obtain a building permit, and hand over the project to construction manager. But a good acquisition person with a sound understanding of the building permit procedures could also do.

This person needs to be fluent in Polish and know their way around the permitting process.

For more detail please contact Mark Twomey - mark@tarahrc.com

Atrium and Multi Investment split up

CEE REGION Atrium European Real Estate has concluded its settlement agreement with Multi Investment BV. As a result of the agreement Atrium has bought the 49.9 pct stake that Multi held in Koszalin shopping centre in Poland becoming the sole owner of the mall. Atrium has also as a result of the agreement acquired shares in three companies that are developing projects in Sofia, as well as in Balçova and Istanbul in Turkey. All the shares Atrium held in the Trabzon shopping centre in Turkey have now been sold to Multi.

Colliers chosen for IVG portfolio

POLAND Colliers International has been chosen to be the manager of the 50,000 sqm office portfolio owned by the German-based IVG fund. The group of buildings includes the Jerozolimskie Park complex, Jerozolimskie Offices, BTA Office Building, BTC Office Center, Victoria Building and an office building on Al. Ujazdowskie. All are located in Warsaw.

New bid for DTZ rebuffed

Australian real estate services provider UGL has made an offer for UK-based consultancy DTZ to rival the takeover offer by BNP Paribas, according to ‘The Daily Telegraph’. Thus far the bid, which is being advised by Goldman Sachs, and other rival offer have been blocked by DTZ's majority shareholder Saint George Participations (SGP), which is planning to take the business private and merge it with BNP Paribas Real Estate, claims UGL. (Source: ‘The Daily Telegraph’)

(PL) IVG buys Warsaw office building

IVG Institutional Funds has bought an office building on Al. Ujazdowskie in Warsaw from PK5, an SPV company owned by the ARKA BZ WBK Property Market Fund. The value of the transaction has been estimated at EUR 18 mln. The property has eight above-ground floors and two underground. It offers a leasable area of app. 4,000 sqm and 39 parking spaces. The building is fully leased by the Wardyński i Wspólnicy law firm.

Rafal Madej joins Tara HRC in Poland

Rafal Madej has recently joined Tara HRC as an Associate and will focus on developing new relationships as well as using his experience to maintaining existing ones. Rafal has worked in the real estate industry since 2005 having worked in both the US and Poland. Rafal has extensive Polish real estate market knowledge having worked on agency side for the last number of years. Rafal graduated from Wright College in Chicago and speaks fluent English.

Tara HRC is delighted to welcome Rafal on board and we are confident this experienced addition to the team will assist us in establishing Tara HRC as the real estate recruitment company of choice in CEE.

(PL) Ghelamco Poland launches Senator project

Monday 21 February 2011
Ghelamco Poland has launched the Senator project in Warsaw – an exceptional office building which combines historic architecture with modern office space design.
Ghelamco_Senator
The project is due to be delivered to the market in Q2 2012.
The Senator has been a long-awaited project. It will emerge on a site which for centuries has been associated with Warsaw’s principal financial institutions. In the reign of King Augustus Poniatowski it housed the State Mint and during the final years of Poland’s partitioning it was the seat of the Russian State Bank; finally, since 1926 Polish Bank has occupied the plot.

It will consist of a building of nearly 25,000 m² which will combine historic and modern elements. Its emergence will help to restore the facades on Bielanska and Solidarnosci streets. The company began construction work in October 2010 and the whole building will be delivered to the market in Q2 2012.

The project has been designed with respect for the historical past of the location to which it will hark back both with its architecture and functionality. The project’s architecture will refer to the original building that was in its place before the Second World War. The old traditional banking hall will be rebuilt with a partly glazed floor. The entire project has been developed in consultation with the municipal monument conservation office.

The building’s interior design will include all the technology commonplace in modern office structures, such as elevated floors, suspended ceilings, central heating and air-conditioning systems with humidity control and zoning. The entire building will be equipped with advanced BMS system as well as structural cabling. As in other office buildings developed by Ghelamco, the investor will install tilting windows - a solution that is particularly sought-after by tenants.

Source: Ghemlaco

CBRE agrees $1bn ING REIM acquisition

19 January 2011

ING has reached agreement to sell its ING Real Estate Investment Management business in two separate transactions for a combined price of $1.1bn, as revealed by Property Week (04.02.11).

CB Richard Ellis is buying ING REIM Europe, ING REIM Asia and Clarion Real Estate Securities, the US-based manager of listed real estate securities, for $940m, as well as $55m of ING’s equity interests in funds managed by these businesses. The three businesses have €44.7bn in assets under management.

In a separate transaction, ING is selling the US direct real estate investment management arm, Clarion Partners, to Clarion Partners’ management in partnership with US-based private equity firm Lightyear Capital for $100m. Clarion has €16.5bn in assets under management.

Both transactions are expected to close in the second half of 2011.

However, the Australian business, ING REIMA, with €4.8bn in assets under management is not included in these transactions. ING said it would undertake a phased withdrawal from Australia “in a timely and controlled manner”.

“With these transactions we continue to deliver on our strategic objectives of reducing exposure to real estate, simplifying our company and further strengthening our capital base,” said ING’s CEO Jan Hommen.

In the transaction with CB Richard Ellis, ING Insurance has agreed to continue its asset management mandate. ING Bank will continue to have an equity interest in some funds in Europe, Asia, the US and Australia. The equity stakes held by the bank will be sold over time, as it continues to steadily reduce its exposure to real estate.

CEE Retail Awards Gala handed out top prizes at Thursday night's ceremony

The following companies and individuals were selected as the top winner in Thursday night's CEE Retail Awards Gala:

" Cafe-Fast Food Retailer of the Year: Coffeeheaven

" Big Box Retailer of the Year: Metro Group

" Multi-Media Retailer of the Year: Metro Group

" Specialty Retailer of the Year under 100 sqm: Diva

" Specialty Retailer of the Year over 100 sqm: Rossmann

" Fashion Retailer of the Year under 200 sqm: Tally Weijl

Fashion Retailer of the Year under 500 sqm:Mango

" Fashion Retailer of the Year over 500 sqm: TK Maxx

" Newcomer of the Year: Diva " Shopping Centre

Manager of the Year: Krzysztof Kucharski - Metro Group Asset Management

Developer of the Year: Inter IKEA Centre Group

Professional Service Provider of the Year: First Title

Architectural Firm of the Year: Chapman Taylor

Law Firm of the Year: Salans

Tax & Financial Adviser of the Year: PwC

Project Management Firm of the Year: EC Harris

Property Management Firm of the Year: DTZ

Consultant / Letting Agent of the Year: Jones Lang LaSalle

Investor of the Year: Atrium European Real Estate

Bank of the Year: ING Lease

Factory Outlet of the Year: Fashion House Outlet Centre Gdansk Phase 2

Extended/Refurbished Project of the Year: Wars Sawa Junior

Mixed-use Project of the Year: " Eurovea - Ballymore - Slovakia

Shopping Centre small: under 15,000 sqm GLA: Galeria Jastrzebie - Polimeni International - Poland

Shopping Centre medium: 15,001 sqm to 40,000 sqm GLA: Galeria Victoria - Keen Property Partners Retail - Poland

Shopping Centre large: over 40,001 sqm GLA: " Eurovea - Ballymore - Slovakia

Professional of the Year: Yann Guen - Mayland

Retailer of the Year: Rossmann

Company of the Year: Atrium

Project of the Year: Galeria Victoria, Keen