Given CPI Property Group’s recent acquisition of Immofinanz and S Immo, the company is more focused on implementing its integration strategy, rather than necessarily looking at new acquisitions, says Mindee Lee, Board Secretary and Senior Manager of Corporate Strategy at CPIPG, in an exclusive interview with Property Forum.

Hungarian real estate developer and investor Indotek Group has acquired two shopping centres, one located in Valencia and the other in Barcelona, from Socimi Merlin Properties. The amount of the transaction has not been disclosed, Forbes reports.

Software industrial company Honeywell has expanded its lease in Globalworth’s BOC office building in Bucharest and will occupy over 24,000 sqm.

Belgian developer Speedwell has started the construction works for the second phase of development for SpacePlus West project, near Bucharest. The new development will have a leasable area of 7,000 sqm, while the whole project will reach 10,000 sqm. 

Slight growth in logistics and retail space rents, despite no new mall expansion or openings being planned. These are the trends for the beginning of 2023, according to the latest report from Cushman & Wakefield Forton.

Real estate developer Anchor Grup has added new brands to its retail portfolio in a bid to enhance the customer experience in its București Mall and Plaza România shopping centers. 

Immofinanz Group recorded strong growth in both rental income and operating results for the first quarter of 2023, which was supported primarily by the full consolidation of S Immo and by property acquisitions. Rental income rose by roughly 83% to €128.4 million. The results of operations and sustainable FFO 1 from the standing investment business more than doubled to €82.5 million and €72.5 million, respectively.

GTC’s adjusted EBITDA was €24 million in Q1 2023 (€26 million in Q1 2022), while net profit amounted to €12 million in Q1 2023 (€15 million in Q1 2022). The decrease mainly resulted from lower gross margin from operations and loss from revaluation, partially offset by lower finance costs and foreign exchange gain.

Dennis Selinas, Globalworth Group CEO, spoke with Property Forum about the investment plans in the industrial segment, the outlook for rents in Bucharest and the efforts to enhance the value of its office portfolio on the Polish and Romanian markets

REICO ČS Nemovitostní (RČSN) continues to clean up its real estate portfolio. It has recently sold the Rohan Business Centre building in Prague's Karlín district. The buyer is the newly established Fio real estate fund from the Fio investment company. The transaction price was CZK 740 million (€31.2 million).