The occupancy level in Prague’s hotels was just 10% during the first six months of this year, with revenue remaining far below the average of the pre-coronavirus years. Contrary to initial expectations, their owners are not selling them – definitely not on a mass scale. Investors’ interest in buying remains strong – more than one-third of them are “very” or “highly” interested in Prague, according to Cushman & Wakefield’s current Hotel Investor Beat survey. Investors obviously trust Prague’s hospitality market and perceive its current situation as temporary.

At the end of Q2 2021, developers were working on projects set to increase Poland’s stock of modern space by more than 3.3 million sqm. This represents a result not previously recorded for a single quarter as there is c.a. 34% more under construction than in the previous quarter

Leasing activity in the Romanian industrial and logistics market was up 21% to 360,000 sqm in the first half compared to the same period of last year, driven by relocations and the closing of new contracts, according to a report by real estate consultancy Cushman & Wakefield Echinox. 

Property developer Atenor says it sold its office project Dacia One in central Bucharest to Pavăl Holding, then owner of Romanian DIY retailer Dedeman. 

A consortium of banks, with Pekao Bank as a leader, Bank Gospodarstwa Krajowego and BNP Paribas Bank, granted over PLN 248 million in a construction and investment loan and PLN 15 million in a VAT loan for five Resi4Rent projects with apartments for rent.

Poland-based warehouse and industrial developer MDC² has acquired a new development site that will accommodate a warehouse and logistics project in the Upper Silesia region, located in Gliwice at the intersection of the A1 and A4 motorways. MDC² Park Gliwice will comprise 52,000 sqm of modern and environmentally sustainable warehouse and logistics space.

During the pandemic, banks continued to finance ongoing commercial real estate projects but they are more careful with financing new ones, looking for higher corporate credentials and imposing more restrictive conditions to fulfil. Monia Dobrescu, Partner at Romanian law firm Mușat & Asociații talked to Property Forum about the pandemic’s effects on client relationships and provided market insight from the legal advisor’s perspective.

Bluehouse Capital has sold the Point Shopping Center in Zagreb. CBS International, part of the Cushman & Wakefield Group, acted as advisor on the deal as an exclusive sales representative, ekapija.com reports. The buyer was Slovenian investor TRIGAL Alternative Investment Fund, the company announced on LinkedIn.

Czech investor Arete Group’s third fund, focused on quality industrial and logistics assets in the CEE region, completed the acquisition of a production and storage facility near Beroun, 20 km from Prague. This is the acquisition of a complex used for the production and storage of the Czech company Hronovský s.r.o., which was founded in 1990 and is one of the leaders in the field of cable assembly production, machining on CNC machines, pressing of plastic components and assembly of mechatronic components. The financial volume of the transaction exceeded almost €10 million.

Cavatina Holding has acquired land in Wrocław from Invest City for a net sum of €20.8 million (PLN 95 million).