The Black Sea Trade and Development Bank (BSTDB) has provided a loan worth €10 million to Garanti BBVA Consumer Finance. The funding will support residential investments in energy improvements and resource efficiency. 

Czech real estate developer and investor Crestyl, together with investment management firm Cornerstone Partners, completed the acquisition of Polish residential developer Budimex Nieruchomości. Budimex Nieruchomości was a subsidiary of Poland's largest construction group, Budimex SA, owned by the Spanish infrastructure giant Ferrovial.

Digital workspace solutions platform workcloud24 is organising a series of online events dedicated to the future of work after COVID-19. Property Forum is an official partner of the next event, to be held on 27 May 2021.

Heimstaden subsidiary, Heimstaden Bostad AB, is to buy a newly-built residential portfolio with 2,496 homes in Poland for €305 million (SEK 3.1 billion) from leading Polish residential development company, Budimex.

BentallGreenOak, a leading global real estate investment management advisor and provider of real estate services, has announced the acquisition of a logistics park comprising three well-located, high-quality warehouses in Gdańsk, Poland. This marks the firm’s first investment in the Polish market, as it continues to expand its presence across Europe.

Yovav Carmi, CEO and Ariel Ferstman, CFO of Globe Trade Centre talked to Property Forum about GTC`s recent acquisitions, the sale of the Serbian office portfolio, coping with COVID-19's long-term effects and their new investment strategy.

React, an office project developed by Echo Investment in Łódź, will be the second location in the city for Chillispaces, a company specializing in providing coworking spaces. The tenant will start to operate here in the first quarter of 2022.

Globe Trade Centre has decided to sell its Belgrade office portfolio to the Hungarian investor Indotek Group. The proposed acquisition price is €267.6 million, exceeding the book value of GTC’s Serbia portfolio as of 31 December 2020. The agreement will cover the sale of 11 buildings within 5 business parks of a total 122,175 sqm GLA with high occupancy rates, located in the New Belgrade district. Once completed in Q3 2021, the sale will become one of the largest real estate transactions in the last 5 years on the CEE market.

Romania’s City Garden says it will deliver the first phase of its luxury villas complex this year and will complete the whole project in 2022. The company is investing around €16 million in 66 villas located in northern Bucharest.

According to Savills, the development pipeline for the Czech industrial market reached the highest level in history in Q1 2021. There were 47 industrial buildings in various stages of construction with a total rentable area of 734,200 sqm across the country. Speculative projects represented 36% of this construction pipeline, which was well below the 10-quarter average of 46%.