7R has won a tender to purchase 20 ha of land in the Pomeranian Logistics Centre. On the plot, the developer will build the 7R Park Gdańsk Port complex, with a total area of approx. 123,000 sqm. The land property is located in the immediate vicinity of the Port of Gdańsk, and the largest deepwater terminal in the Baltic Sea – DCT Gdańsk.

JLL has appointed Mateusz Bonca as CEO of Poland, effective mid-November. He will be based in Warsaw.

As of the end of Q3 2020, €3.9 billion have been transacted on Poland’s property market since the beginning of the year. The result is slightly lower than in the years 2018 and 2019, however, it is worth noting that despite the investors’ “wait and see” strategy at the beginning of COVID-19 pandemic, the outcome is still impressive. As many investors are returning to transactions which were put aside, multiple deals should be closed within the last quarter of the year which has always been a period of intense activity on the market, according to a report by Avison Young.

Trei Real Estate GmbH and JLL jointly published a new market report on retail parks and convenience centres in Poland, according to which the segment has followed an upward trend for years, and not even the coronavirus pandemic has impacted its performance. One of the reasons for this is that the stores located here often stock food and everyday products. Moreover, the retail units generally have their own entrances and are directly accessible from the parking lot. Shoppers appreciate this aspect because it makes it easier for them to minimise exposure.

Local developer Sekyra Group has acquired the Stýblův dům townhouse on Wenceslas Square in Prague for around €16.6 million (CZK 450 million). The company is planning to invest €31.3 million (CZK 850 million) in restoring the building.

In the first half of this year, CTP Group recorded a profit of €99 million with gross rental income reaching €152 million during the period. Despite the coronavirus pandemic, in the second quarter of this year CTP Group recorded an increase in rental income, which reached €72 million, a 16% year-on-year increase. CTP Group was also able to sign new long-term leases for 345 thousand sqm signed in 1H 2020.

Romanian real estate developer Impact Developer & Contractor, listed on the Bucharest Stock Exchange, enters the real estate market in Iași through the acquisition of a 19,068 sqm land plot. The transaction marks a major step in the developer’s strategy for implementing residential projects in large cities throughout the country.

On 2 October 2020, CEE-based investor CPI Property Group submitted a binding offer to participate in a capital increase of Nova RE SIIQ S.p.A. The offer was approved by the board of Nova RE on 7 October 2020. CPIPG will subscribe for newly issued shares of Nova RE at a price of €2.36 per share, for a total consideration of about €26 million. Following the capital increase, CPIPG will own more than 50% of Nova RE and will launch a mandatory takeover offer for the remaining shares in Nova RE at €2.36 per share. The capital increase is subject to the approval of Nova RE’s financing bank (standard change of control provision) and will be funded with cash.

Immofinanz successfully placed €500 million fixed-rate senior unsecured notes with a 7-year maturity and a 2.50% fixed coupon on 8 October 2020. The net proceeds of the issue of the notes will be used to refinance existing debt, capitalize on value-creating growth opportunities, and for general corporate purposes. The issuance was oversubscribed around 2 times with strong demand by more than 110 investors.

The investment volume on the Polish commercial property market is estimated to have reached €1.05 billion in Q3 2020. According to Savills, the industrial sector accounted for approximately 70% of that total, which illustrates the current investor preference for logistics properties, especially facilities dedicated to e-commerce.