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Estate FM

Author: Tomasz Cudowski

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A podcast on the commercial real estate investment market ◉ Covering investment, financing, acquisitions, leasing, and much more ◉ Weekly reviews, commentaries, interviews, opinions, and forecasts ◉ Brief, concise, and professional insights ◉ Hosted by Tomasz Cudowski, a real estate journalist with over 20 years of experience and former editor-in-chief of Eurobuild CEE and Real Estate Monitor.
158 Episodes
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Jak nowy Plan Ogólny Warszawy oraz inwestycje w transport szynowy długoterminowo wpłyną na geografię rynku biurowego i wartość nieruchomości w stolicy? Posłuchaj eksperta - Jan Jakub Zombirt, Senior Director - Strategic Consulting, JLL, w ekskluzywnym komentarzu dla Estate FM wyjaśnia:- czym jest (i czym nie jest) Plan Ogólny,- co zmieni się w zasadach wydawania decyzji o warunkach zabudowy, - dlaczego nie będzie można już wybudować biurowca na WZ-ce,- gdzie w Warszawie wyznaczono dominanty wysokościowe (spoiler: nie tylko w centrum miasta), - dlaczego plan nie obejmuje rejonów, o których wiadomo, że będą się w najbliższym czasie rozwijać, - jak na rozwój rynku biurowego (i stawki czynszów) wpłyną nowe linie warszawskiego metra, - ile wynosi "premia za dostępność" biurowca w Warszawie, innymi słowy: o jaką kwotę spada czynsz wraz z każdą dodatkową minutą średniego dojazdu do budynku (tak, można to obliczyć ),- gdzie powstaną nowe hotspoty biurowe i komunikacyjne w stolicy. Miłego odsłuchu!
Jedni mówią: "boom", inni: "kryzys" - kto ma rację? Dlaczego ceny mieszkań rosną tylko w jednym mieście? Skąd się bierze tak duże zróżnicowanie tendencji na poszczególnych rynkach mieszkaniowych?Na te i inne pytania podczas tegorocznego Polish Real Estate Summit odpowie Kazimierz Kirejczyk, Housing Strategu Advisor JLL.Posłuchaj zapowiedzi jego wystąpienia i przyjedź do Zakopanego 17-18 listopada!
Zapraszamy na siódmy odcinek 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐕𝐨𝐢𝐜𝐞𝐬 — serii podkastu Estate FM dedykowanej sferze ESG 🍀W tej odsłonie rozmawiam z Piotr Jakubowski, Project Directorem w BPI Real Estate Poland, o aspektach prawnych wdrażania ESG w sektorze mieszkaniowym 🌳Ale bez paniki — to nie będzie nudna wyliczanka paragrafów, ale ożywiona dyskusja skupiona wokół następujących praktycznych kwestii:🟢 Które obszary rynku mieszkaniowego powinny być regulowane prawnie, a które należy pozostawić „niewidzialnej ręce rynku”?🟢 Dlaczego polskie tłumaczenie taksonomii UE jest tak niejasne?🟢 Jaki wpływ ma Zielony Ład na wdrażanie ESG?🟢 W jakich obszarach zielonej transformacji Polska wyprzedza Europę Zachodnią?🟢 Czy w sektorze mieszkaniowym występuje greenwashing?🟢 Jakie regulacje prawne ułatwiłyby deweloperom wdrażanie zasad ESG?🎥 Miłego odbioru!
We wrześniu akcja kredytowa na rynku kredytów hipotecznych w Polsce przekroczyła 10 mld zł, co jest rekordem w całej historii rynku! O przyczynach i skutkach obecnych oraz przyszłych trendów i zjawisk na rynku kredytów hipotecznych będzie mówił podczas tegorocznego Polish Real Estate Summit prof. Waldemar Rogowski, dyrektor Instytutu Finansów Korporacji i Inwestycji SGH oraz główny analityk Biura Informacji Kredytowej. Posłuchaj zapowiedzi tego wydarzenia! Zapraszamy na Polish Real Estate Summit do Zakopanego, już 17-18 listopada!
[English version on our YouTube channel] (soon)Zapraszamy na komentarz ekspercki Ludwiki Korzeniowskiej, szefowej Industrial & Logistics Agency w BNP Paribas Real Estate. Wystarczy sześć minut, żeby:poznać szczegóły dotyczące aktualnego stocku, struktury najmu, pustostanów, czynszów, podnajmów, a także nowych i renegocjowanych umów na rynku magazynowym;dowiedzieć się, kim jest Ludwika Korzeniowska, skąd przybyła do BNP Paribas RE i dokąd zmierza; zajrzeć do wnętrza jej rosnącego w oczach zespołu, poznać jego główne aktywności, strukturę i ambitne plany. Miłego odbioru!
🎙️ For dessert in this special EXPO REAL (Messe München) series, we invite you to hear a commentary from a representative of a company that has been automating real estate due diligence for over 20 years — long before it became fashionable and AI-supported.💡 Hear a few words from Alexandre Grellier, CEO & Co-Founder of Drooms, exclusively for Estate FM.Find out:🔴 Why this year’s Expo is noticeably smaller in terms of space and the number of exhibitors,🔴 What Western Europe and the DACH region might envy Eastern Europe for when it comes to market health,🔴 How to refinance investments in unstable times,🔴 Why the Expo focuses significantly less on ESG and more on technology,🔴 And what opinions about the Polish market prevail among Western investors.🎧 Find a few minutes and listen to the episode now ‼️
🎙️ 𝐖𝐞 𝐢𝐧𝐯𝐢𝐭𝐞 𝐲𝐨𝐮 𝐭𝐨 𝐭𝐡𝐞 𝐟𝐢𝐧𝐚𝐥 𝐭𝐰𝐨 𝐞𝐩𝐢𝐬𝐨𝐝𝐞𝐬 𝐨𝐟 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐩𝐨𝐝𝐜𝐚𝐬𝐭 𝐬𝐞𝐫𝐢𝐞𝐬 (𝐚𝐥𝐦𝐨𝐬𝐭) 𝐥𝐢𝐯𝐞 𝐟𝐫𝐨𝐦 EXPO REAL (Messe München).☕ Today's morning insight comes from a local with European experience – André Zücker, Co-CEO at KGAL GmbH & Co. KG (KGAL), comments exclusively for Estate FM.🔵 There's not big optimism in the market, but some phenomena portend improvement, such as stabilizing rents and vacancy rates.🔵 A-offices in A-cities are still a great asset, with rents steadily rising.🔵 The residential and retail markets are definitely worth keeping an eye on.🔵 Some expected decisions of the German government will improve the situation for investors in this country.🔵 Asset management is becoming an increasingly challenging industry for landlords.🔵 Poland is a great market to invest in, in part due to its relatively favorable demographics. 🎧 Listen to these words of wisdom from the heart of Bavaria! 𝐓𝐡𝐞 𝐥𝐚𝐬𝐭 𝐞𝐩𝐢𝐬𝐨𝐝𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐞𝐫𝐢𝐞𝐬 𝐰𝐢𝐥𝐥 𝐚𝐢𝐫 𝐢𝐧 𝐚 𝐟𝐞𝐰 𝐡𝐨𝐮𝐫𝐬! ⏰
🎙️ 𝐓𝐮𝐧𝐞 𝐢𝐧 𝐭𝐨 𝐭𝐡𝐞 𝐧𝐞𝐰𝐞𝐬𝐭 𝐞𝐩𝐢𝐬𝐨𝐝𝐞 𝐨𝐟 𝐄𝐬𝐭𝐚𝐭𝐞 𝐅𝐌’𝐬 𝐬𝐩𝐞𝐜𝐢𝐚𝐥  EXPO REAL (Messe München) 2025 series — the last one before the weekend!Today’s guest insight comes from Mateusz Skubiszewski, Head of Capital Markets Poland at BNP Paribas Real Estate:🟢 Investors still show some anxiety about the geopolitical situation — though it’s far less intense than a year or two ago.🟢 Interest in the office market is clearly on the rise.🟢 While Warsaw remains the main focus of capital, regional cities are also drawing growing attention.🟢 New capital is entering the market, looking for opportunities.🟢 BNP Paribas Real Estate is active across all market sectors, with particularly strong momentum in warehouse and convenience retail segments.🎧 Listen to this two-minute market insight straight from EXPO!
𝐓𝐡𝐞 𝐭𝐫𝐚𝐝𝐞 𝐟𝐚𝐢𝐫 𝐰𝐞𝐞𝐤 𝐢𝐬 𝐨𝐯𝐞𝐫, 𝐛𝐮𝐭 𝐭𝐡𝐞 𝐄𝐬𝐭𝐚𝐭𝐞 𝐅𝐌 𝐚𝐮𝐝𝐢𝐨 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐢𝐬𝐧’𝐭 – today and Monday we’re bringing you live commentary from Munich’s top market experts. 🔥 Today morning Marcin Sulewski, Head of Office Investment Poland at JLL, reports:🔴 There are buyers for office deals, but… size matters.🔴 Newcomers are preparing to their office debut in Poland.🔴 The market is pleasantly fluid, and investor appetite is growing.🔴 The office investment market in 2026 looks promising!Listen to a two-minute scoop straight from the EXPO REAL (Messe München)! Enjoy the show! ☕
To wrap up the Logistics & Warehouse Day — Hadley Dean from MDC2, and let’s not be afraid to say it: a true market guru.And, keeping up with the tradition from our morning episode — here are your keywords of the day:Cost of debtRental growth perspective / margin perspective / liquidity perspectivePre-let marketGdańsk / Gliwice / StrykówAnd just in case you missed it the first time — cost of debt! Enjoy the insight!
𝐓𝐨𝐝𝐚𝐲 𝐨𝐧 𝐄𝐬𝐭𝐚𝐭𝐞 𝐅𝐌 — 𝐢𝐭’𝐬 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 & 𝐖𝐚𝐫𝐞𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐃𝐚𝐲 𝐚𝐧𝐝 𝐰𝐞 𝐜𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐞 𝐢𝐭 𝐢𝐧 𝐌𝐮𝐧𝐢𝐜𝐡! 🎉 We kick things off with a commentary from Sławomir Jędrzejewski, Head of Industrial Investment CEE at JLL. A few encouraging takeaways:🔴 cautious optimism across the market,🔴 the market has reached its bottom-out phase,🔴 expected transaction volume by the end of 2025: EUR 1.6–1.7 billion,🔴 inflow of core+ capital,🔴 growing interest in portfolio and sale & lease back transactions.🎧 Enjoy listening!
Today, Daniel Bienias, Managing Director CEE at CBRE joins Estate FM exclusively from EXPO Real. ‼️ Among other things, he’ll tell you that:🟢 there are many signs that good times are ahead,🟢 everyone wants to invest in beds & sheds, but…🟢 core investors are once again showing interest in offices — especially in central Warsaw,🟢 a boom isn’t expected, however we can anticipate some significant transactions in Poland over the next 12–18 months.Enjoy the insight!
Today, straight from EXPO REAL (Messe München), we're talking about 𝐭𝐡𝐞 𝐥𝐢𝐯𝐢𝐧𝐠 𝐬𝐞𝐜𝐭𝐨𝐫 — 𝐚 𝐦𝐚𝐫𝐤𝐞𝐭 𝐭𝐡𝐚𝐭’𝐬 𝐞𝐧𝐭𝐞𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐬𝐮𝐩𝐞𝐫 𝐥𝐞𝐚𝐠𝐮𝐞. 🏆 Krystyna Pietruszyńska, Director in the Living Investments at JLL Living | Poland, comments on:🔴 the effects of lower interest rates introduced by the National Bank of Poland, 🔴 the increasingly common cooperation between investors and developers, 🔴 the growing number of M&A transactions in the sector, 🔴 the recent record-breaking deal in the Polish PRS market, 🔴 and the strong fundamentals of the Polish economy, which make Poland an ideal place to live and work. Another lively commentary straight from Munich — today evening. ⏰
Today straight from EXPO REAL (Messe München) - everything you wanted to know about the Polish office market but were afraid to ask. 👨‍🎓 Karol Wyka, Executive Board Director, Head of Office Department at Newmark Polska, talks about:🔵 the mood at this year's EXPO Real,🔵 the macroeconomic factors influencing the office market in Europe and Poland,🔵 cities where renegotiations account for 70% of demand,🔵 the challenging record low supply - especially if you represent clients who are rapidly increasing employment...🔵 ...or clients whose leases expire in 2030 - if they are looking for space of 5,000 sq m, they should look now!🔵 a healthy economy and a bright future for the Polish real estate market.Enjoy the show!
This will undoubtedly be the most dynamic commentary at EXPO REAL (Messe München) 2025 (care to take up the challenge?) — after all, this is one of the most fast-evolving industries out there, right ⁉️ 🧐 Pawel Malon, CEO of SINGU, talks about:🟢 the company’s record-breaking team in Munich and what it signifies,🟢 the increasingly hot topic of digitization and data automation,🟢 and Singu’s growth — both organic and through M&A. And here, a warm welcome to our new colleagues from Berlin!Enjoy the show!
At the end of the first day of EXPO REAL (Messe München) Real - an audio postcard for all investors still wondering whether Poland is worth investing in. 🔥 Krzysztof Misiak MRICS, Head of Cushman & Wakefield in Poland, speaks convincingly about:🔴 the solid foundations of the Polish economy,🔴 the biggest challenges facing the entire region (such as demographics),🔴 the resurgence of tourism,🔴 and C&W's recently acquired consultancy contract for the construction of the Central Communication Port.Listen to a few minutes of essential insights - then be smart and invest in Poland. ☝
𝐃𝐞𝐬𝐩𝐢𝐭𝐞 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐢𝐧𝐠 𝐰𝐞𝐚𝐭𝐡𝐞𝐫 𝐚𝐧𝐝 𝐨𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐡𝐮𝐫𝐝𝐥𝐞𝐬, 𝐰𝐞'𝐫𝐞 𝐥𝐚𝐮𝐧𝐜𝐡𝐢𝐧𝐠 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐩𝐨𝐝𝐜𝐚𝐬𝐭 𝐬𝐞𝐫𝐢𝐞𝐬 𝐬𝐭𝐫𝐚𝐢𝐠𝐡𝐭 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 EXPO REAL (Messe München) 🔥 To kick things off, we’re featuring an interview with Malgorzata Dankowska, co-founder and managing partner at Koda. Taxes | Accounting | Payroll ⭐🔴 What mood did Małgorzata bring to this year’s Expo, and what are her expectations for the fair?🔴 Are asset deals and share deals feasible in Poland?🔴 What should investors keep in mind about LOIs?🔴 How can limitations in project financing and interest deductibility be overcome?🔴 Which instruments are best for hedging tax risks?🔴 Can real estate in Poland be purchased directly through a foreign vehicle?🔴 What can we expect from the investment market in the coming months?Tune in for a few minutes of expert insight straight from Munich ‼️
𝐖𝐞’𝐫𝐞 𝐰𝐫𝐚𝐩𝐩𝐢𝐧𝐠 𝐭𝐡𝐢𝐧𝐠𝐬 𝐮𝐩 𝐰𝐢𝐭𝐡 𝐨𝐮𝐫 𝐟𝐢𝐧𝐚𝐥 𝐚𝐮𝐝𝐢𝐨 𝐩𝐨𝐬𝐭𝐜𝐚𝐫𝐝 𝐟𝐫𝐨𝐦 The District Show 𝐢𝐧 𝐁𝐚𝐫𝐜𝐞𝐥𝐨𝐧𝐚. 🔥 And this time, we’ve brought in the big guns: Juan Velayos Lluis, President of The District himself. 🤵‍♂️ In our chat, you’ll find out:🔴 How the fourth edition of the event actually went (spoiler: no disasters, plenty of deals),🔴 What makes The District stand out from all those other fancy gatherings across Europe,🔴 Whether in a world of Zoom calls and emojis, face-to-face business meetings still make sense,🔴 Which corners of the real estate market in Southern Europe are raking it in — and which ones everyone loves to argue about,🔴 How Barcelona, usually famous for sangria and selfies, scores as a business conference hotspot,🔴 And, of course, what surprises the next editions of The District might have in store.So tune in, and consider attending 𝐭𝐡𝐞 𝐟𝐢𝐟𝐭𝐡 (𝐲𝐞𝐬, 𝐚𝐧𝐧𝐢𝐯𝐞𝐫𝐬𝐚𝐫𝐲!) 𝐞𝐝𝐢𝐭𝐢𝐨𝐧 𝐨𝐟 𝐓𝐡𝐞 𝐃𝐢𝐬𝐭𝐫𝐢𝐜𝐭 𝐧𝐞𝐱𝐭 𝐲𝐞𝐚𝐫. ☀️ Enjoy the show — preferably with tapas. 🍢
Listen to another audio postcard from The District Show — an event as heated as the Catalan coast ☀️Today, exclusively for Estate FM, two renowned experts comment on 𝐭𝐡𝐞 𝐡𝐨𝐭 𝐝𝐚𝐭𝐚 𝐜𝐞𝐧𝐭𝐞𝐫 𝐦𝐚𝐫𝐤𝐞𝐭. 🔥Paco González, CEO of Core Capital Investments, discusses, among other things:🔴 the specifics of data centers as an asset class,🔴 the biggest challenges facing investors in this sector,🔴 differences between individual countries as data center destinations,🔴 the investor's role in ensuring the security of both the building and the data,🔴 ways to efficiently implement investments without triggering social protests (spoiler: not only a Polish specialty).Alberto Martull Gallego, Head of Corporate Capital Markets & Data Centers at JLL Spain, adds his reflections on:🔴 the growing investor interest in data centers,🔴 data centers as an asset class resistant to macroeconomic fluctuations,🔴 their rise from alternative to core assets,🔴 southern European countries emerging as sector powerhouses, supported by…🔴 Europe’s strongest renewable energy system, and…🔴 the highest per-capita time spent on streaming platforms.We invite you to a 9-minute knowledge pill from world-class experts 🤵‍♂️📺 📡 Enjoy the show!
Zapraszamy na pierwszą pocztówkę dźwiękową z The District w Barcelonie !Specjalnie dla Estate FM komentuje William Buttery, szef na Europę Południową w WiredScore. Will mówi o:głównych celach jego organizacji,nowych sektorach nieruchomości certyfikowanych w systemie WiredScore, niezbędnych działaniach, które spowodują, że nasz budynek będzie nowoczesny i bezpieczny (spoiler: nie chodzi o wydawanie pieniędzy),przewagach i zaletach polskiego rynku nieruchomości, wrażeniach z pobytu w Warszawie, a przede wszystkim w biurowcu The Form. Miłego odsłuchu!
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