EuropaProperty has completed its 11th annual CEE Investment Awards at the Intercontinental Hotel in Warsaw. The awards gala was heralded a great success and were well-received by all the winners and their guests. The gala ceremony looked fantastic and was once again witnessed by a select group of around 200 senior European and Central European real estate professionals; affirming the event’s status as a true landmark for the investment and associated real estate sectors.
Griffin Real Estate, CBRE Investment Management, Blackbrook Capital and Zeitgeist Asset Management were this year’s big investment winners, collecting multiple awards across all the main investment categories. Panattoni, Ghelamco, Echo Investment and BLD Homes walked away with some of the big development prizes.
Griffin Real Estate was deemed this year’s best overall investor largely on the back of its successful transactions and diversified investment strategy. Griffin won three awards on the night including Opportunistic and JV investor and Investment Deal in the €50 – €100 million category selling six retail properties in Poland to a confidential buyer.
A new investor to the region, Blackbrook Capital, was recognised by the jury for its successful entry into the Central and Eastern European market. The investor collected two awards including Warehouse Investor and Professional of the Year for the company’s Founder and CEO Arvi Luomo.
GTC was awarded Office Investor on the back of its successful investment throughout the region. The regional investor/developer acquired two top-class office assets from WING in Budapest as well as de-investing its Serbian office portfolio to Indotek for a record-breaking sum and return.
Cornerstone Investment Management and Crestyl Group were recognised for their spectacular entrance into the PRS market with the acquisition of Spravia (previously Budimex) in the Investment Deal €100 million + category.
Zeitgeist Asset Management was recognised as a Residential Investor for its acquisition strategy throughout the region, and its recent PRS purchases and Student housing development. The firm also collected the Value-Add/Core + Investor prize.
Investment recognition also went to CBRE Investment Management as Investment Asset Management Firm and Core Investor. The firm was also recognised for its acquisition of two 7R industrial facilities in Poland.
pbb Deutsche Pfandbriefbank was voted this year’s Bank of the Year. The specialist bank was recognised for its core business of lending and the important role it plays in supplying credit to the real estate industry.
Panattoni collected the Warehouse Development of the Year award for the BTS development for Weber in Poland. Warsaw Unit was voted Office Project of the Year. The recently developed office complex was deemed by the jurors to be the best example of a leading Class A office development as well as accentuating the strength of the developer’s advanced technological innovations and modern development solutions. Ghelamco also collected the Future Project award for the soon to be operational skyscraper The Bridge. Another future project recognised by the jurors was Tbilisi Outlet Village by Torg International.
Another success from the investment and development side came from Park Lake Developments’ Park Lake Office Center in Bulgaria. The recently developed, and sold onto German investors SAP for around €50 million office building, was a great example of the region’s growing interest to international investors.
Other developments recognised by the awards included Futureal’s €300 million Etele Plaza in Budapest. This smart retail development was deemed by the jurors as the best example of modern retail development for today’s omnichannel retail environment. Galeria Andrychow by Equilis and Acteeum in Poland won the Retail Park award. Trei Real Estate, a prolific retail park developer won the Retail Developer of the Year award.
Echo Investment, a leading real estate development company operating in Poland and focusing on the development of large-scale city-forming commercial projects, took the Office Developer of the Year award, after being recognised by the Jury for its continued successful sustainable development model across Poland. The developer also won Mixed-use Development for their successfully received Warsaw Breweries project.
This year has seen the region’s residential market grow in importance. In this way, this year’s awards ceremony celebrated residential development and investment throughout the region. Bulgaria came out a strong favourite. BLD Homes received two awards, one for the company’s Secret Gardens residential project and another for Residential Developer of the Year.
A personal award was handed out to CPI Property Group’s Marcin Mędrzycki for Property Manager of the Year. CBRE was awarded Property Management Firm and Corporate Agency of the Year and Arcadis walked away with the Project Management Firm award and Professional Service Provider.
Other company awards were given to New Work Offices which won Serviced Office Provider. TPA Poland was once again voted this year’s best Tax and Financial Adviser, and Dual Asset was voted the best Title Insurance Provider. Other industry winners included Dentons as Law Firm, Kajima as Construction Firm and APA Wojciechowski Architects as Architectural Firm of the Year.
Accentuating the strength and interest in the region’s commercial real estate sector and associated industries, were the prizes for Manufacturer of the Year won by Toyota Motor Group and DHL Supply Chain won Logistics company.
Poznan was recognised by the jurors as a Polish city that is excelling in its green initiatives and offering agreeable terms and opportunities for investors and sustainable investment and development.
On behalf of our sponsors, judges and attendees, we offer our congratulations to all the winners. Foundations are already in place for next year’s event, which promises to be even better.
The 12th annual CEE Investment Awards will be held on October 26/27th, 2022.
Winners
Category: Professional Service Provider
Arcadis is the leading global Design & Consultancy firm for natural and built assets. Applying deep market sector insights and collective design, consultancy, engineering, project and management services Arcadis works in partnership with its clients to deliver exceptional and sustainable outcomes throughout the lifecycle of their natural and built assets. Arcadis are 27,000 people active in over 70 countries that generate €3.3 billion in revenues.
Category: Architectural Firm
APA Wojciechowski Architects was established over 25 years ago. Currently, the office employs over 120 architects in its Warsaw and Tricity locations, implementing its projects in Poland, Russia, Ukraine, and Lithuania. Guided by the principle of sustainable development, the office looks for design solutions that will bring the greatest ecological, economic, and social benefits within the assumed budget.
Category: Logistics Company
DHL is the leading global brand in the logistics industry. Its DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfilment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows.
Category: Title Insurance Provider
DUAL Asset is a leading provider of Title to Property, Title to Shares, Fundamental Top Up and Specific Risks Insurance Globally. With a team of 57 staff located in 7 offices, Dual provides solutions to the M&A and Real Estate market. Its USP is the panel of insurers that trust the company and allows it to provide bespoke innovative solutions in record time.
Category: Tax and Financial Advisor
TPA is a leading international consulting group, offering comprehensive business advisory services in 12 countries of Central and Southeastern Europe. In Poland, TPA is one of the largest consulting companies. It provides international corporations and large domestic companies with effective business solutions in terms of tax advisory, accounting and payroll outsourcing, real estate investment consultancy and personnel consulting, as well as audit and business advisory services under the Baker Tilly TPA brand.
Category: Manufacturer
Toyota is present on all continents and its market share grows year by year. The company is well known for its continuous efficiency and quality improvement focusing methodology Toyota Production System (also known as Lean). It believes that there is always a better way to do what is being currently done. Today, recognising the changing world, trends as well as environmental aspects of manufacturing vehicles, Toyota is converting into a mobility company.
Category: Law Firm
Dentons the world’s largest law firm operating in 81 countries and 205 offices globally. Its clients benefit from more than 12,000+ lawyers and professionals with experience in 24 sectors and 40 practices. With over 1,500 lawyers, including 100+ in CEE alone, Dentons’ Global Real Estate Group offers legal advice and solutions that combine international real estate expertise, local market knowledge, and sector-specific experience.
Category: Construction Company
Kajima brings Japanese standards of diligent and punctual work, strict observance of health and safety on construction sites, and care for the environment. Kajima offers its clients the possibility to have their projects certified to the international environmental BREEAM and LEED systems, as well as the coordination of projects in the BIM system, which enables the advanced analysis of documentation in 3D and shortens the whole implementation process.
Category: Project Management Company
Arcadis is the leading global Design & Consultancy firm for natural and built assets. Applying its deep market sector insights and collective design, consultancy, engineering, project and management services Arcadis works in partnership with its clients to deliver exceptional and sustainable outcomes throughout the lifecycle of their natural and built assets.
Category: Property Management Company
CBRE Group is the world’s largest commercial real estate services and investment firm, with 2020 revenues of $23.8 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included on the Fortune 500 since 2008, ranking #122 in 2021. It also has been voted the industry’s top brand by the Lipsey Company for 20 consecutive years and has been named one of Fortune’s “Most Admired Companies” for nine years in a row, including being ranked number one in the real estate sector in 2021, for the third consecutive year.
Category: Property Manager
In Poland, CPI Property Group has been operating since 2013. It owns and actively manages 24 properties in the office, retail and hotel sectors. The company’s investments are located in Warsaw, Elbląg, Zamość, Tarnów, Radom and Zgorzelec. The company plans to further engage in the Polish market by purchasing and investing in selected office properties in the best locations in Warsaw.
Category: Serviced Office Provider
New Work is one of the leading flex office space independent providers in CEE. Bringing over 40 years of experience in the international real estate sector New Work is providing innovative and flexible workspace solutions for landlords, brokers and clients. With its proprietary 360° Workspace Solution New Work is running the future of the real estate industry delivering services, technology and network solutions and full-scale, high-quality services and office space.
Category: Bank
pbb Deutsche Pfandbriefbank is a leading specialist lender for financing commercial real estate and public investments in Europe and the United States of America. pbb is a major issuer of Pfandbriefe, which makes it also an important player in the European covered bond markets overall. pbb is listed on the Frankfurt Stock Exchange. In real estate finance, the bank’s primary target of new business is professional real estate investors and developers. Core asset classes financed include office, retail, residential, logistics/warehouse properties and hotels.
Category: Corporate Agency
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2020 revenues of $23.8 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included on the Fortune 500 since 2008, ranking #122 in 2021. It also has been voted the industry’s top brand by the Lipsey Company for 20 consecutive years and has been named one of Fortune’s “Most Admired Companies” for nine years in a row, including being ranked number one in the real estate sector in 2021, for the third consecutive year.
Category: Retail Developer
Trei Real Estate acquires develops and manages customised and sustainable residential and retail properties. The company is currently developing its Vendo Park retail park network in Poland, the Czech Republic and Slovakia. A total of 36 facilities have already been built, with 26 located in Poland. The developer’s Polish plans for 2021 include the construction and opening of a total of seven retail parks. Trei Real Estate Poland manages a portfolio of 128 retail facilities.
Category: Residential Developer
BLD is a construction investment company, fully focused on building modern, functional and quality performed residential projects. BLD is a part of the family of AG Capital – the largest holding for real estate properties in Bulgaria with 25 years of experience. BLD was founded in 2006, and while expanding on the stable foundations of the experience gained, the company is confident that it possesses the necessary knowledge and opportunities to provide a high-quality product, which completely corresponds to the requirements and individual needs of its customers.
Category: Warehouse Developer
For the fifth time in a row, Panattoni took first place in PropertyEU magazine’s Top Logistics Developers ranking. In 2018–2020, the company delivered 6.4 million sqm of warehouse and industrial space to the market. Panattoni has developed the most sustainable-accredited industrial space across Europe – more than 4.2 million sqm of BREEAM-accredited space delivered to ‘very good’ or higher standard, with a further 2.5 million sqm in the pipeline. Currently in Europe Panattoni has nearly 3 million sqm of space under construction.
Category: Office Developer
Echo Investment is the largest Polish developer, the only one on the market with extensive experience in three sectors of the real estate market: residential, retail and service, as well as offices. Echo is involved in large city-creating projects combining various functions. The company is preparing large projects in Warsaw, Cracow, Łódź, Poznan and Wroclaw. This year Echo celebrated its 25th anniversary on the Polish market. Since 1996, the company has been listed on the Warsaw Stock Exchange. Echo handed over 2 million sqm of space for use in all completed projects.
Category: CITY
Poznań is one of the oldest and biggest cities in Poland. It is a strong scientific centre that holds a leading position in Poland. Over 24 university schools and over 102,000 students make Poznań a lively, vibrant academic city. Over 118,000 economic entities operating in the city. The number of entities with foreign capital is one of the highest in Poland. The city is maintaining the lowest unemployment rate in Poland and received an A3 financial rating from Moody’s.
Category: Future Project
The Bridge will be one of the most innovative skyscrapers in Poland. 174 m-tall building arising in the new business centre of Warsaw will offer 47,000 sqm of state-of-the-art office space. A futuristic, diamond-like shaped façade providing unique views from different angles accompanied by a glazed lobby with open premises will complete the character of a true city building. The building will be BREEAM and WELL-certified – as well as Green Building Standard recognized.
Category: Future Retail Project
Tbilisi Outlet Village, the first outlet at the crossroads of East and West, is on track for an Autumn 2022 opening. On September 9, 2021, work began on-site of the 20,000 sqm GLA development just outside the capital of Georgia. As the very first outlet in the region, it is developed by Georgian Outlets & Resort Group (GORG) in close collaboration with TORG International.
Category: Warehouse Project
Panattoni completed a dedicated facility for Weber, a US manufacturer of grills and accessories. The 50,000 sqm BTS (built-to-suit) facility was developed in Zabrze, and the tenant moved in in August 2021. Additionally, the facility can be extended in the future by a further 30,000 sqm. The facility will be provided with solar panels and certified under BREEAM.
Category: Residential Project
Secret Gardens is an aspiring BLD project created to observe the best traditions of aristocratic architecture in the capital. It combines radical principles and values taken from the construction of Old Sofia with the latest innovations, modern technologies and materials from the modern world and the future. The name “Secret Gardens” conveys the philosophy and inspiration of BLD to come up with a different residential building, with beautiful gardens in the very heart of the capital – the way buildings were erected in Old Sofia.
Category: Mixed-use Project
Warsaw Breweries are a multi-functional city quarter project. It is a project created for the sake of urban harmony and respect for the history of the place. In addition to the carefully revitalized brewery buildings – the Brewery, the Laboratory, the Cellars and the Villa – eight modern, architecturally diverse office and residential buildings were built. In their vicinity, friendly and open common places have been planned. You can live, work and spend a good time here.
Category: Retail Project
Etele Plaza is Hungary’s first smart plaza, which is located at the largest multimodal transportation hub in Hungary. Etele Plaza is estimated to attract around 40,000 customers every day from the capital, the suburbs and the further towns that are easily accessible from the transport hub. The immediate catchment area of the new centre is one of the most densely populated areas of Budapest, where some 235,000 people live. Residents of this district represent 125% of the nation’s average purchasing power with a relatively low retail supply.
Category: Retail Park
Galeria Andrychów is the first and only modern retail scheme in Andrychów. It features 23,300 sqm of GLA, over 30 retail units and an efficient land development plan. The scheme is a power centre built to a high standard, and as a result of the synergies generated by the presence of DIY, drive-through restaurant, a petrol station and as well as a retail park with a wide offer, it is set to gain strong regional appeal. Located within a significant distance from the closest scheme of comparable gravity, it is bound to become a natural first choice shopping destination for inhabitants of Andrychów as well as a wider catchment of approximately 200,000 people.
Category: Office Project
Warsaw UNIT is Ghelamco’s latest skyscraper in the heart of Warsaw’s new business centre. UNIT’s uniqueness lies in its architecture, which combines the modernist heritage of Warsaw with modern materials. The building is the first skyscraper in Poland to boast the prestigious WELL certificate in the latest v2 Core version, which takes into account primarily those parameters that affect the health and well-being of building users. UNIT is also in the process of BREEAM certification at the Excellent level and already has a Green Building Standard certificate.
Category: CEE Office Project
Park Lane Office Center is a new grade A office building, situated in one of the fastest developing areas in Sofia – Hladilnika – Vitosha district, close to the city centre. Park Lane Office Center is designed as per the highest international standards – large floor plates, modern amenities, plenty of parking lots. Park Lane Office Center was planned by the green building criteria of the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED). The building is included in the certification program Facade and has very good chances to attain LEED Platinum rating.
Category: Investment Deal €100 million +
Cornerstone Investment Management, founded by Przemysław Krych, is CEE’s leading private equity investment management business. The company’s track record includes investments in various sectors including real estate, IT outsourcing, cable operators, renewable energy, healthcare, and financial services. Spravia previously Budimex Nieruchomości, Luxmed, Avenga, ProService and Griffin are all prime examples that illustrate the diversity of industries and sectors in which Cornerstone has invested.
Category: €50-100 million
In September, 2021 Pruim, a company managed by Griffin Real Estate, sold six hypermarkets totalling 107,600 sqm located in Szczecin, Rybnik, Słupsk, Gdańsk, Nowy Sącz and Lublin. The transaction valued at €87 million is the second commercial transaction that involved companies managed by Griffin Real Estate during times of the COVID-19 pandemic.
Category: Under €50 million
CBRE Investment Management seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive. One of the world’s leading real assets managers, the team is responsible for more than $129 billion of assets under management.
Category: Residential Investor
Zeitgeist Asset Management specializes in development services and asset management for private and institutional investors, mainly in the Czech Republic, Poland, Hungary and Germany. The company operates in various segments of the real estate market, with particular emphasis on projects that increase the value of investments resulting from renovations. Since its establishment in 2014, the company has been growing rapidly, with €258 million equity invested and €682 million assets under management, covering 462,900 sqm of land and 338,878 sqm of space for rent.
Category: Office Investor
GTC is a highly experienced real estate investor and developer, constantly improving and revitalizing the portfolio to meet the strictest sustainable criteria while focusing on tenant well-being to meet their highest demands. Currently, GTC actively manages a commercial real estate portfolio of 54 commercial properties offering 850,000 sqm of lettable office and retail space in Poland, Budapest, Bucharest, Belgrade, Zagreb, and Sofia. In addition, GTC has a promising development pipeline comprising over 400,000 sqm retail and office properties in capital cities of Central and Eastern Europe of which 54,000 sqm is currently under construction.
Category: Warehouse Investor
Blackbrook Capital specialises in the acquisition of Net Lease real estate assets, and the provision of structured corporate Sale-Leaseback and Build to Suit development financing. Blackbrook was established on the principle that commercial real estate occupiers are better served to invest their capital in their core business activities and growth initiatives, rather than tying up valuable capital in real estate assets. Blackbrook looks for opportunities where it can add significant value for tenants who are looking to grow and adapt their businesses, including through a transition to a greener and more environmentally sustainable future.
Category: Investment Asset Management Company
CBRE Investment Management seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive. One of the world’s leading real assets managers, the team is responsible for more than $129 billion of assets under management.
Category: JV Investor
Griffin Real Estate is the largest, most active and innovative investment and asset manager in private equity specialized in real estate in CEE. Griffin Real Estate’s strategy is to create or acquire platform companies that are the leaders of their markets and, by developing adequate strategies and strong management teams, to build their value through organic growth. Over the last few years, Griffin Real Estate has been the most active and innovative investor in the region, with a strategic focus on the Polish market. The gross asset value of Griffin-managed investments across eleven actively managed and three sourced and passively held different platforms exceeds €5 billion, with a total invested equity of over €2 billion.
Category: Opportunistic Investor
Griffin Real Estate’s strategy is to create or acquire platform companies that are the leaders of their markets and, by developing adequate strategies and strong management teams, to build their value through organic growth. Over the last few years, Griffin Real Estate has been the most active and innovative investor in the region, with a strategic focus on the Polish market. The gross asset value of Griffin-managed investments across eleven actively managed and three sourced and passively held different platforms exceeds €5 billion, with a total invested equity of over €2 billion.
Category: Value add/Core + Investor
Zeitgeist Asset Management specializes in development services and asset management for private and institutional investors, mainly in the Czech Republic, Poland, Hungary and Germany. The company operates in various segments of the real estate market, with particular emphasis on projects that increase the value of investments resulting from renovations. Since its establishment in 2014, the company has been growing rapidly, with €258 million equity invested and €682 million assets under management, covering 462,900 sqm of land and 338,878 sqm of space for rent.
Category: Core Investor
CBRE Investment Management seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive. One of the world’s leading real assets managers, the team is responsible for more than $129 billion of assets under management.
Category: Professional
Arvi Luoma founded Blackbrook Capital in March 2020 at the start of the pandemic with >€1 billion of committed capital to focus on mission-critical commercial property across Europe. In Q4/2020 acquired a 100,000 sqm logistics facility in Poznan, built by Panattoni, and leased to a leading global e-commerce retailer. As of Q3/2021 Blackbrook have built a pan-European portfolio in 6 countries totalling>€500 million of which is 20 percent in CEE.