Oxford Properties Group has agreed to acquire pan-European investment and asset manager M7 Real Estate. The investment is in line with Oxford’s global capital allocation strategy which has seen it both enter new geographic markets and increase its weighting to the logistics, multifamily and life sciences sectors. Across the globe, Oxford is building, buying and growing world-class businesses to meet its capital allocation priorities.

The latest STR figures show that the Prague hotel market has borne the brunt of the coronavirus crisis in Europe. It recorded the steepest decline in average revenue per room in 2020, down 84.6% on the previous year on the back of an average 16.6% annual room occupancy rate. Even so, confidence in the Prague hotel market and its long-term potential is hardly waning, as underscored by the unflagging interest not only among investors, who are always on the lookout for good opportunities to buy but also among hotel operators, who have identified Prague as the main target of their activities. Results reported for last summer, when rules were eased for a while, signalled that the market would be able to recover relatively quickly once the restrictions are lifted. Complete recovery, however, is not expected until 2024.

Spanish developer Gran Via Real Estate announces results beyond expectations for 2020 on the Romanian market. Despite two months of lockdown measures due to the pandemic, the company traded 478 residential units, with a total value of €44.2 million. 

Finnish developer YIT has been awarded a construction permit for a mixed-use complex next to the European Solidarity Centre in Gdańsk.

Greek developer Reds has authorized its board of directors to take all necessary measures to complete the sale of the 8,000 sqm land to Vastint, at a price of €11,4 million. The land is located on Splaiul Unirii Boulevard, near the Timpuri Noi Square project, developed by Vastint.

Privately owned real estate developer Acteeum is preparing to launch the development of a new retail park named Ostróda Power Center in Poland’s Masurian region.

Alina Marulis, an entrepreneur from Bucharest, is investing  €10 million euros in a boutique project of 12 villas near Băneasa forest, close to American school.

NEPI Rockcastle is starting the works for the extension of Promenada shopping centre in Bucharest, Ziarul Financiar informs, publishing a photo showing that the land is being prepared for construction.

For Vienna-based investor GalCap Europe, last year was a busy one with three additional deals closed compared to 2019. Managing Partner Paul W. Hallam talked to Property Forum about the experiences of last year and shared the company’s investment strategy for 2021.

GLP, an investor and developer of logistics buildings and warehouses announced plans to introduce its ESG-focused European specification, as outlined in its best-practice European Design Guide, to all new logistics facilities in Poland.