Savas Gencer has been appointed as investment director at 7R. He has joined the investment team led by Christopher Zeuner and will be responsible for capital raising activities and 7R’s international expansion into new European markets.

Over 650,000 sqm of logistics and industrial space were rented last year in Romania, almost 40% more than in 2019, a Dunwell analysis shows.

CTP is expanding its industrial park north of the Serbian capital, CTPark Belgrade North, following the purchase of a 28,500 sqm warehouse and adjacent land for further development from Austrian-based real estate developer Eyemaxx. As a result, the overall capacity of CTPark Belgrade North now stands at 50,000 sqm, with the landbank enabling to achieve about 115,000 sqm of leaseable space at the location.

In 2020, Echo Investment hit records both in sales and handovers of apartments. It managed to sign 1570 sales contracts with clients, what outperformed last year's results by 16%. At the same time, clients received their keys to 1505 apartments, which in turn means a 19% increase compared to 2019.

US investor Starwood Capital, through its Luxembourg holding company SOF-11 Klimt CAI S.à r.l., has increased its stake in Austrian company CA Immo to 29.99% in the past few weeks and announced a takeover offer for the remaining shares for €34.44 per share. Starwood also plans to submit an offer for CA Immo’s convertible bonds.

In response to growing demand for logistics space on the domestic market, ConvergenCE has prepared a ready-made product in Tárnok, Hungary where the construction of an 8,000 sqm logistics hall can be started immediately.

The COVID-19 pandemic did not affect real estate transactions in Romania. During 2020, a total of 602,805 properties were traded, 62,625 more than in 2019, according to the Romanian National Agency for Cadastre and Land Registration (ANCPI). 

Liviu Tudor, the Romanian investor who owns the most office space in Bucharest through Genesis Property, bought a former factory for which he paid €3 million, Ziarul Financiar reports citing market sources.

The third fund of Czech investor Arete Group has acquired a modern, highly specialized production facility with a research and development centre and with the potential for further development in Kežmarok, Slovakia. The value of the investment exceeded €10 million.

Panattoni is completing the first stage of construction work on a distribution warehouse for OTCF S.A. The BTS centre in Czeladź is to eventually have an area of 67,000 sqm. The first stage of the construction work is to be completed in February 2021.