Despite the turbulent economic situation, banks are readily lending money to the commercial real estate segment, with warehouses being their top choice. The industrial investor Accolade is one of the most willingly financed warehouse portfolio holders in Poland. The company benefits from over €500 million in bank loans, 40% of which has been acquired since February 2020. At the same time, in the Czech Republic, the company has signed a loan agreement with a club of banks for €137.5 million. It is the largest ever loan provided for a single industrial rental property in the CEE region.

Dr. Schneider Automotive Polska Sp. z o.o., which belongs to the Dr. Schneider Group and has been operating in Poland since 2002, will move into Panattoni Park Jelenia Góra already in the second quarter of this year. BNP Paribas Real Estate Poland experts advised the automotive company in the search for a new production location and in the negotiation of the terms of the contract. A production plant will be built on an area of 7,439 sqm + 4,293 sqm of mezzanine floor to produce parts for electric cars, among other products.

Due to the high prices of flats and houses, less availability of mortgages, extreme inflation, as well as the rising price of building materials and labour, people in the Czech Republic are now looking more for rental housing. The influx of refugees from Ukraine has also significantly increased the interest in renting. Under the influence of the enormous demand, rental prices are thus starting to reach the pre-Covida level, and in some places have already exceeded it. According to PSN, the availability of apartments is decreasing and the company is now preparing entire projects for rental housing.

The EU Space Programme Agency (EUSPA) could become the first tenant after the completion of a dilapidated building in the centre of Prague's Palmovka district. The Prague City Council plans to approve the terms of a key contract in June that will kick-start preparations for the completion and ensure the agency moves into the building. Deník E15 reports that Petr Hlaváček, Prague's deputy mayor for territorial development, confirmed the news.

Property developer Plaza Centers is seeking €262.2 million in damages from the Romanian state, alleging that it recorded massive losses from the Casa Radio project in Bucharest. The company filed a complaint with the International Centre for Settlement of Investment Disputes (ICSID) in Washington. 

Hotel group Real Estate&Constructii, controlled by David Fattal, has completed the acquisition of Golden Tulip Victoria hotel in Bucharest, according to rhn.ro. 

Accolade Group has signed a €137.5 million (roughly CZK 3.4 billion) loan agreement. Thanks to this, the company will be able to finance the construction of a large multi-storey distribution centre near Kojetín in the Olomouc Region (located in the northeast of the Czech Republic) for the online store Amazon, writes the daily E15.

The vacancy rate in Bucharest’s office market remained flat at 16.5% in the first quarter of 2022, similar to last year, although there is a growing gap between Class A projects and older buildings in areas with lower demand, according to real estate consultancy Colliers. 

Romanian developer Nordis Group has added Daniel Penciuc (left in picture) and Florin Poștoacă as shareholders, each with stakes of 5% in Nordis Management. Following the move, the group’s number of shareholders rose to six. 

Kuehne+Nagel Global Services has leased 9,000 square meters at the Airport City Belgrade Business Park, in a transaction brokered by the consulting company Coreside Savills.