Benson Elliot, the UK-based private equity real estate fund manager, on behalf of its pan- European fund, Benson Elliot Real Estate Partners IV L.P. (BEREP IV) has acquired four grade A office buildings in key Polish regional markets. The properties, secured in separate off-market transactions with four different vendors, follow the fund’s acquisition of the 350-room Warsaw Sheraton Hotel in October 2015.

The Czech Republic saw investment in real estate tail off slightly in the third quarter to €450 million, but following a strong start to the first half of 2017 when €2.25 billion worth of transactions were closed, total cumulative investment volumes had reached €2.67 billion by the end of September, according to Colliers International.

CBRE Global Investors have been one of the most active buyers on the CEE investment market recently. Having closed the off-market acquisition of a logistics/light industrial portfolio in the Czech Republic, Robert Snincak, Head of Investment Operations CEE talked to Property Forum about CBRE Global Investors’ investment strategy for the region.

JLL has been selected by Portuguese company Porto Office as the exclusive commercialisation agent responsible for leasing space at Porto Office A, the second phase of the office and services investment developed in Kraków.

Accelerate Property Fund, a JSE-listed real estate investment trust, has announced it will acquire a portfolio of five single-tenanted, long-lease, light industrial properties in Poland for €41.9 million from Panattoni Europe.

Starwood Capital Group has entered, through a controlled affiliate, into the sale and management back transaction to acquire the Sofitel Budapest Chain Bridge Hotel from Orbis Hotel Group. The hotel is being acquired for €75 million.

LaSalle Investment Management has acquired Palác Andel in Prague from Aberdeen Asset Management Deutschland, the German subsidiary of Aberdeen Standard Investments. This mixed-use scheme in the Prague district of Smíchov–Andel is the first Czech Republic asset for LaSalle E-REGI fund. The total purchase price reached €57.8 million. Cushman & Wakefield and Clifford Chance represented the seller. White & Case, JLL, TPA represented the buyer.

AFI Europe Romania published its financial results. The Net Operating Income (NOI) from its income producing assets in Romania was over €37 million in the first nine months of the year, representing respectively 10.4% higher results compared to the same period in 2016. The value of the existing income producing assets AFI Cotroceni, AFI Ploiesti and the 5 office buildings of AFI Park increased by 7.5% to €735 million according to the valuation performed as of September 30, 2017.

There is an ongoing mentality shift in the property industry which not just about technology, proptech guru James Dearsley revealed at the largest event on the Hungarian property market. Over 700 participants and nearly 100 speakers gathered at the 13th Portfolio Property Investment Forum in Budapest which focused on the future of real estate.

Sevdelina Petrova MRICS (Bulgaria) and Maja Ostanek MRICS (Slovenia) were awarded the Chris H. Bennett Memorial Prize. The awards were handed out at the Portfolio Property Investment Forum conference in Budapest, where the achievements of several big players of the Hungarian property market were also acknowledged.