The Arete investment and real estate group signed a loan agreement with Raiffeisenbank for up to €80 million. The funds will be used to refinance the existing real estate portfolio of the second ARETE fund (ARETE INVEST Sub-Fund CEE II) and to invest in new industrial assets.

There were 8,400 residential property deals made in Hungary in May 2020, according to the latest monthly transaction estimate by real estate group Duna House. Although still 38% lower compared to last May, the monthly figure looks much healthier than in April.

Following over 4 years of intensive work, Ghelamco Poland has completed the revitalisation of two historic tenement houses at 13 and 15 Foksal Street in Warsaw.

In Q1 2020, S Immo’s rental income rose by around 10% in annual comparison to €31.1 million (Q1 2019: €28.4 million). The FFO I – a key figure for operating performance – advanced by 27.8% to €13.8 million (Q1 2019: €10.8 million). At the same time, the results on property valuation turned negative to reach minus €31.5 million in the wake of the COVID-19 pandemic (Q1 2019: plus €9.9 million). This corresponds to around 1.3% of the IFRS real estate assets. All in all, the company saw a loss for the period of €21.4 million as of 31 March 2020 (Q1 2019: profit for the period of €15.1m million).

Philippines-based investor ISOC Group has acquired buildings A and B of the Silesia Business Park office complex in Katowice, developed by Skanska, from a fund managed by Scandinavian investor NIAM.  In Poland, the buyer is represented by Augusta Cracovia.

Cavatina Holding has completed the sale of buildings A, B and C of the 60,000 sqm Equal Business Park office complex in Kraków. The buyer is a joint venture managed by Apollo-Rida Poland.

The Romanian Chamber of Commerce and Industry (CCIR) and real estate developer Iulius are proposing a large-scale mixed-use project around the existing Romexpo Exhibition Center in Bucharest. The €2.87 billion investment plan would the see creation of the city’s largest business district with over 30,000 new jobs, museums and a multi-use event hall, a new park and green urban connections, a retail and lifestyle centre and 12,000 parking spaces.

CPI Property Group is taking over the management of the Central Tower and Prosta 69 buildings in Warsaw. The company now manages 9 out of the 13 office building it owns in Warsaw

Knight Frank has been present in Hungary since 2018, mostly focusing office leasing – a process that will significantly be impacted by COVID-19. Erika Lóska, Head of Office Division at Knight Frank Hungary and Colin Fitzgerald, Partner International Occupier Services at Knight Frank London talked to Property Forum about the company’s plans for Hungary and how COVID-19 could change the occupier services sector.

Eiffage Immobilier Polska has appointed Savills to seek an investment partner for the development of a bespoke 453-unit build-to-rent opportunity in Warsaw within a secured development pipeline of over 2,300 units across Poland’s top five cities.