Property investment volume for Romania is estimated at almost €1 billion last year, a value ca.10% higher than the one registered in 2016 (€890 million). Romania accounted for 8% of the total investment volume recorded in the CEE region (€12.98 billion, a 3.3% increase over 2016). The growth of the Romanian market exceeds the increase of the CEE volumes, but the local market is still under its potential, according to JLL.

ZFP Investments, the Czech-based subsidiary of Slovak IAD Investments, has concluded the acquisition of the Kotlarska 11 office building in Kraków on behalf of ZFP Real Estate Fund. This marks the investor’s entry into the Polish market.

Romanian industrial and logistics gross take-up increased in 2017 by almost 15% to over 525,000 square meters, registering a new record level, JLL reports.

JLL has represented Grupa Buma on the sales transaction of the DOT Office complex. The project was acquired by Golden Star Estate, an Amsterdam-based investment firm. The value of the transaction is confidential.

Class A office buildings in the downtown areas of Gdańsk and Gdynia will finally become available for lease, complementing office provision on the outskirts of the Tricity agglomeration. Tenants are likely to move to new headquarters in more prestigious locations, says Michał Rafałowicz, Head for the Pomeranian Region at advisory firm Cresa Poland.

Prologis announced fourth quarter and full year 2017 activity in Europe. During the past year Prologis started 40 developments, totalling 917,500 square metres.

New research from JLL challenges traditional approaches to evaluating city competitiveness by encouraging the global real estate market to rethink city performance metrics. In World Cities: Mapping the Pathways to Success, published in conjunction with The Business of Cities, JLL delves into global cities’ performance to evaluate their strengths and opportunities for real estate investors, developers and corporate occupiers.

FLE GmbH, a company of the LFPI group, has acquired two new office properties in Budapest on behalf of the Luxemburg based fund FLE SICAV FIS. The parties to the transaction have agreed not to disclose the purchase price and other details.

CPI Property Group announced the appointment of Mr. David Greenbaum to the role of the company’s Chief Financial Officer.

Union Investment has secured the future Holiday Inn Gdansk City Centre hotel at an early stage by way of a forward purchase agreement. The hotel will have 240 rooms and be located on Gdańsk’s historic Granary Island. Completion and the transfer of rights and obligations are scheduled for mid-2019. The project has been acquired for the portfolio of one of Union Investment’s institutional funds.