Romanian real estate developer One United Properties has completed a capital increase process worth €25 million by selling part of its One Cotroceni Park urban regeneration project, currently under construction in Bucharest. The amount raised is to be invested in the further development of the project.

With over 42,000 sqm of modern office space due for completion in 2020, Brno should receive one of the biggest additions of office space in recent years. Ostrava, on the other hand, hasn’t seen supply growth in several quarters and currently, there are no new office buildings under construction in the city. Colliers International has published its regional office market overview of the Czech Republic for H1 2020, focused on Brno and Ostrava.

Speedwell has designated Bog’Art as the general contractor in charge of Miro, the company’s newest office project located in the Băneasa area of Bucharest. Miro project will offer its tenants 23,000 sqm of Class A office space spread out over 5 levels. The project has been granted the building permit and works have already started.

Cavatina Holding has acquired the Widzewska Manufaktura revitalisation project in Łódź for €90 million (PLN 400 million). The seller of the approximately 4 ha site at Piłsudskiego 135 with its 19th-century industrial buildings was a company headed and co-founded by Stanisław Zaręba, represented in the transaction by Deloitte.

Germany and Central Eastern Europe (CEE) reported investment turnover growth across commercial real estate in H1 2020, despite the effects of COVID-19 in Q2, according to the latest Savills European Investment Spotlight.

Cordia International Zrt. has acquired UK developer Blackswan. Cordia financed the transaction by using funds collected from the bond issuance under National Bank of Hungary’s Bond Funding for Growth Scheme. The acquisition allows Blackswan to deliver a £550 million project pipeline across the West Midlands

Atenor announced that RoseVille, its latest project in Budapest, located on Bécsi Road of District III has received the final building permit. The developer acquired the 6,604 sqm plot at 68-84 Bécsi Road last spring to build a 15,000 sqm Class A+ office building there.

CPI Property Group published an update regarding the lawsuit filed in April 2019 in the United States District Court for the Southern District of New York. The lawsuit concerned a group of Kingstown companies, Investhold LTD and Verali Limited (who filed a claim against CPIPG and Mr. Radovan Vitek and other parties alleging violations of the Racketeer Influenced and Corrupt Organizations Act in the United States. On 4 September 2020, the SDNY Court dismissed the claims against all defendants and directed the clerk of court to close the case.

Towarzystwo Funduszy Inwestycyjnych PZU, one of the largest investment fund companies in Poland, dealing inter alia in investments on the real estate market, has chosen a new manager of its office assets. Starting from the end of August, Knight Frank will be responsible for the management and commercialization of 9 buildings in Warsaw, Wrocław and Gdańsk.  

Savvy hotel operators could harness the remote working trend and adapt their space to deliver a ‘hybrid hospitality’ concept to generate an additional source of income. Colliers International, predicts that where hotels provide office space to enable co-working and interacting, turnover could be increased by up to 20 percent.