UBM Development Czechia has completed the reconstruction of the more than 100-year-old former Cukrovarnicky Palace on Senovážné Square in the centre of Prague. The 176-room five-star Andaz Prague hotel will open in the historic building, marking the Hyatt chain’s entry into the Czech Republic. The hotel will be put into trial operation in early 2022.

Allianz Real Estate, acting on behalf of several Allianz group companies, and logistics developer VGP have agreed to form a new 50/50 joint venture. The vehicle, the fourth such venture between Allianz Real Estate and VGP since 2016, will develop a portfolio of prime logistics assets in Germany, the Czech Republic, Hungary and Slovakia.

CBRE Investment Management and Hillwood Investment Properties announced a definitive agreement whereby entities affiliated with CBRE Investment Management will acquire a 57-asset, 2.6 million sqm portfolio of state-of-the-art logistics properties in the United States and Europe valued at approximately $4.9 billion from Hillwood.

Echo Investment is launching a new bond series for individual investors. The developer will issue the securities for a total of PLN 50 million.

Skanska has sold two office projects in Poland to Stena Real Estate BV, an international property company that is part of the privately owned Swedish Stena Group. The first phase of the Centrum Południe complex in Wroclaw, consisting of two joint office buildings, and the last building of the High5ive complex in Krakow, comprises 39,400 sqm of office space. The projects are designed and built in line with ESG principles. It is the second transaction between the two parties in CEE since the second building from the Spark office complex in Warsaw was acquired in 2020.

Duna House has released its monthly transaction estimate, showing that there were 11,422 residential property transactions in Hungary in December 2021. The tally for the whole year shows 150,975 transactions, which marks a 15% growth over 2020.

Romanian Impact Developer & Contractor aims to raise up to €50 million through a private placement at a price of RON 0.70 per share. 

Renata Osiecka, Managing Partner at AXI IMMO talked to Property Forum about the new sources of demand on Polish warehouse markets, financing new logistics projects and forecasts for the nearshoring trend.

Newmark Group, Inc., today announced that it has fortified its presence in the CEE market through an agreement with a leading commercial real estate group of experts in Poland, which formerly operated as Cresa Polska. The team will provide a full spectrum of client services in Poland and the surrounding area, operating as Newmark Polska.

Prudnik Retail Park has changed its owner. The facility was purchased by LCP Properties, which after the completed transaction became one of the 70 commercial properties currently held in the company's portfolio. Thus, the lease area of all the projects managed in Poland by LCP exceeded 260,000 sqm. The value of the transaction has not been disclosed.