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Student master planning idea competition

2011.11.16.

CBS Property has sponsored a student master planning idea competition in cooperation with the Urban Design Department of the Technical University of Budapest for its Nagytétény site along the Danube. Students of all Architecture Schools in Hungary were invited.

Three winning proposals have been selected by the jury (http://www.cbsproperty.hu/en/property/details/8/), headed by Prof. Sándor Pálfy DLA. Two teams came from the Technical University of Budapest and a third from the Moholy Nagy University of Arts and Design. The finalists were asked to further develop their initial proposals. The results show that for the new generation of young architects sustainability and the environment are key considerations.

For CBS Property these ideas confirm that the relatively large building volume allowed by the zoning regulations may well align with the beautiful natural surroundings of this site at the southern gateway of Budapest.

CBS Property at EXPO REAL Munich 2011

2011.10.07.

CBS Property showcased selected developments at Expo Real Munich’s Budapest Business Region stand as one of the major promoters of the stand. Expo Real was held from 4 to 6 October 2011. This year CBS exhibited at the 107 m² exhibition booth area of the City of Budapest. Additionally, CBS sponsored the ‘Croissant and Champagne’ themed breakfast.

The Budapest stand attracted many visitors who had the chance to attend the various programs held during the day. CBS Property’s CEO, Lorant Varga, took part in the panel discussion titled ’Major Developments in the Budapest Business Region’. During the panel discussion he highlighted that; “In today’s difficult economic situation real estate developments with a good location, a unique concept and a clear focus on a niche market have a considerable future.”

CBS Property showcased four major developments at the expo; Danube Intermodal Logistic Center (DILK), Tárnok Villa Park, M6 Warehouse Park and the M0 Riverfront Business Park.

DILK is a major project with an approximately 100 million EUR gross development cost. It is located on the boarder of Budapest and Érd. As a true intermodal location along the M6 motorway it offers exceptional advantages to service large scale European logistics due to the possibility of building a river port, a rail and container terminal on the Danube.

M0 Riverfront Retail and Business Park is a mixed use development of 300 million EUR. The development project has 200,000 m² gross office and 50,000 m² gross commercial floor spaces. It is ideally located at the trans-European transit corridor.

Tárnok Villa Park is a suburban, high quality residential development located 10 minutes car drive away from Budapest with direct access to M7 motorway. CBS Property plans to build 450 houses and villas with recreation facilities, kindergarten and a shopping mall. The total development budget of the project is 40 million EUR.

Feasibility study for intermodal logistics centre announced

2011.08.18.

CBS Property has announced its plans to develop a new intermodal ligistics centre near the junction of M6 motorway and main road no. 6., close to the river Danube, the M0 motorway and railway lines www.cbsproperty.hu/en/property/details/6/. As a true intermodal location the site is well integrated into the south-western industrial and logistics area of Nagytétény, a part of the 22nd District of Budapest. The site comprises some 72 hectares, of which 44 ha is suitable for logistics development. Of this development area 24 ha is located in District 22 and some 20 ha in neighbouring Érd.

The road, rail, river and air transport networks and hubs of Hungary are located in the centre of European transit corridors. The location advantages can only be realized if part of the transit volume of goods is processed in intermodal and multifunctional logistics centres located at major transport hubs, thus creating added value for the national economy.

Ports are complex transport facilities that connect the three main transportation networks (road, rail, water). Hungary has not developed its port infrastructure since WWII. Without modernisation, ports could not fulfil their role as integrated parts of the transport network. Their management and organisation proved not competitive. These are the reasons why they lack the positive impact on regional economies, pronounced in the case of West-European ports.

Transportation on water consumes far less energy and pollutes much less compared to other modes of transport. External costs borne by the society by transport units is about one-third compared to railway transport and about one-tenth compared to road transport.

By way of offering state of the art port infrastructure and services, the aim of the proposed DILC project is to enable the transfer of cargo volumes to the most economical transportation mode with the least impact on the environment.

The recent major improvements of the road network, especially the construction of motorway M6, and the transport policy adopted by Budapest to orient heavy goods vehicle traffic to peripheral areas outside the M0 orbital motorway, establishes a new location potential for the site. This potential – further enhanced by the possibility for intermodal logistics by connecting to the Danube waterway – can only be utilized by modifying the current zoning to allow the development of DILC. The first step is the rezoning of the site in cooperation with Budapest and District 22. Municipality. In order to realize a state of the art intermodal logistics centre (DILC) government, city and the private sector have to work strategically together. The centre will improve Hungary’s role as a logistics hub in Europe.

The feasibility study for the intermodal logistics centre has been prepared in partnership with the Hungarian Presidency of the European Union and is available for downloading here:

http://www.cbsproperty.hu/en/property/details/6/

Press release about real estate investment trusts

2011.07.11.

http://www.portfolio.hu/ingatlan/iroda/orulnek_az_ingatlanosok_az_adomentessegnek.152443.html

Partnership with District 22

2010.12.02.

In coordination with CBS Property several sites owned by the company were included in the new promotion website (http://www.bp22.hu/varosmarketing/varoskapu) and database of District 22.

The new site gives an overview on the most important development initiatives in District 22.

CBS Property - as one of the largest landowners in the area - has entered to an overall cooperation agreement with the District as one of the largest landowners in the area to align its business goals with the interest of the public as represented by the Local Government.

Zoning for commercial area in District 22 received final approval

2010.08.26.

Budapest, August 26, 2010 – The zoning for CBS Property’s 33 ha site along the riverbank of the Danube, near the junction of M0 and main road 6 has received its final approval at the August council meeting of Budapest.

The approval was preceded by a tri-party agreement between Budapest Municipality, District 22 Municipality and CBS Property. The new zoning allows for the development of 210,000 sqm mix-use commercial, office and retail project, besides maintaining the attractive green environment along the riverbank, including a new public park of 66,000 sqm and a bicycle path.

The construction of the new junction at Növény utca has already started.

Working with Tárnok municipality

2010.07.06.

One of the priority development projects of CBS Property is located in Tárnok. Working with the Municipality our firm has provided a truck with a driver to assist the community environmental day on 24th April, 2010 .

Land owner realigned to become a property developer

2010.07.01.

CBS Property Zrt, the majority owner of which are US and UK based private equity firms, is a unique player in the Hungarian real estate market with nearly 10,000,000 m² of property that was restructured last year.

The company was restructured to become a major property developer mainly in Budapest and its outskirts besides being identified as a leading land owner. The company has commenced the preparation of developments at three major locations, the total development value of which exceed 500 million euros. The first project is planned in Tárnok, easily accessible from M7 motorway, where a villa park with detached and semi-detached houses would be built in a picturesque setting supplemented with some commercial units and educational institutions establishing a new quarter of the town. According to plans a mixed-use office and commercial centre will be developed on the 35-hectar site at the junction of M0 and Route 6; and the 70-hectar site at the border of Budapest and Érd at the junction of M6 and Route 6 will host a logistics centre.

The completion of the development projects are anticipated in the period from 2011 to 2017.

CBS Property appoints new CEO

2010.01.18.

Budapest, January 18, 2010 – The board of directors of CBS Property appointed Lorant Varga as the new CEO of the company. Mr. Varga is replacing John Verpeleti who is stepping down after completing the re-structuring, re-branding and creation of the fundamentals of the company, during the last year. The new CEO has the remit from the shareholders to build on this foundation and change the company from a land owner to a long term successful developer.

Mr. Varga has worked over a decade for ABN AMRO bank in Brazil, The Netherlands, Belgium and Hungary. In 2003 he joined CBRE where he was Managing Director. Lorant Varga then joined Trigranit Development Corporation where he was CEO for almost 3 years.

Vladimir Dlouhy (Chairman of Chayton Capital’s Advisory Board) commented: We are delighted that Mr. Varga has joined the company bringing great management and development skills to CBS Property. We are confident that Mr. Varga will strenghten the company and will build a strong platform for future property developments.

CBS Property is a major landowner in Hungary with nearly 10,000,000 m² of property in strategic locations, mostly in and around the capital city of Budapest. In November 2008, the Chayton Sava Property Fund, part of Chayton Capital, acquired a 74% stake in the Hungarian company Skoglund Holding Zrt in partnership with a subsidiary of Starr International Company Inc. Skoglund was previously owned entirely by investment firm Bankár. In September 2009, the company rebranded to CBS Property.

For further information please contact: Dávid Havas on 802-7300 and at david.havas@cbsproperty.hu

Chayton Capital aims to provide superior returns to investors through opportunistic real estate investments. The firm’s products are created for sophisticated institutional and high net worth investors. The firm’s management team brings substantial real estate, finance and capital markets experience to the investment process. Additionally, active advisory boards and network of local partners extend the group’s regional knowledge and provide critical access to attractive transactions.

Chayton Sava Property Fund is the company’s second major investment fund. The largest markets for the fund include Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Serbia and Slovenia.

Starr International Company, Inc.: Starr International serves as a private financial services holding company that makes investments through direct investments, publicly traded securities and private equity funds with a focus on financial services, real estate, consumer products and services, retail and energy businesses. Starr International has also been approved by Lloyd’s as the owner of Lloyd’s Syndicate in 1919.

Skoglund Holding relaunches as CBS Property

2009.09.17.

Following its recent acquisition, Skoglund Holding Zrt. has renamed and rebranded as CBS Property Zrt. This change is in conjunction with a change of office address as CBS Property moves to H-1133 Budapest, Váci út 76 from 18 September.

Skoglund Holding was acquired by UK investment firm Chayton Sava and US investment firm C V Starr in 2008 from Bankár who retains a minority shareholding. Since the acquisition, John Verpeleti, former regional investment head for AXA REIM and former head of DTZ for Central and Eastern Europe has taken over as CEO.

The change of name also heralds a change in the activity of the company and sees it transform from a static owner of land in to a dynamic development company. Owning some 10,000,000 sq m of land in strategic locations in and around Budapest CBS Property has identified sites that are ideally suited for a combination of residential, logistics and mixed use developments.

John Verpeleti, CEO, comments ‘This is an exciting time us as we seek to actively develop these sites and maximise their potential value. Our goal now is to develop our sites either ourselves or in joint venture arrangements with local and international partners.’

CBS Property is currently working on a new website which will give a full overview of all of their sites available and the associated development opportunities.

For further information, please contact:

John Verpeleti
CEO, CBS Property Zrt
Tel: +36 (1) 8027 300
john.verpeleti@cbsproperty.hu

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