As part of a new climate strategy, one of the leading German asset managers is also targeting net-zero emission portfolio by 2050 – German investment manager KGAL has committed to becoming a climate-neutral company by the beginning of 2021 by offsetting all greenhouse gas emissions connected to its operations. Emissions calculated per employee will be reduced by 5% annually during the next 10 years. It has also pledged to have a net-zero emission investment portfolio by 2050. The targets are set out in the company’s newly announced climate strategy.

According to the latest Savills research, Prague’s office real estate market is fairly priced despite some minor outward prime yield movement during the first half of the year. This broader continent-wide outward yield movement has helped push the average yield spread between prime European offices and Eurozone government bonds to 325 basis points, more than 100 bps above the historic average.

The stock of modern retail spaces in Romania has exceeded the level of 4 million square meters after the latest deliveries of shopping centres, but the market development pace will slow down in the next period, according to Cushman & Wakefield Echinox.

In the context of the digital transformation growth, Alexandru Boghiu and Radu Gogoașă announce the launch of The Mavers, a digital & tech startup on the real estate market, with an investment exceeding €300,000.

Mitiska REIM has secured a €33 million senior debt facility with Erste Group Bank AG for four Romanian retail parks, representing a combined gross leasable area (GLA) of 30,500 sqm.

P3 has signed an agreement with Vítkovice, a.s. and VTK NCA a.s. to buy 40 hectares of land in the Vítkovice area in Ostrava. Formerly known as Aglomerace, the area will be used by P3 to build an industrial and commercial district that will include production and storage warehouses, stores, showrooms, offices, and various other facilities. The overall design of the complex is being prepared in cooperation with architect David Kotek from the Ostrava-based Projektstudio.

CTP has inaugurated a new logistics centre in ctPark Bucharest West for one of the largest retail companies in Romania. Started in December 2019 and finished in September 2020, the new warehouse for Profi Romania became operational only one month after the completion of construction. The warehouse has a total area of ​​56,500 sqm, which can be extended by another 10,000 sqm. CTP’s investment in the project was €29 million (RON 140 million).

Romanian real estate developer One United Properties has announced a capital increase of up to €70 million. Following the General Meeting of Shareholders on 28 September, the capital increase was approved at a €380 million pre-money valuation and up to €450 million post-money valuation.  

CA Immo signed and closed the acquisition of Postepu 14, a Class A office building located in the Mokotow district of Warsaw, from developer HB Reavis. The property totals around 34,500 sqm GLA and is nearly fully let to tenants such as AstraZeneca and Samsung Electronics. The purchase price is approximately €87 million, with annual gross rental income of around €6.5 million, reflecting a 7.5% gross initial yield.

Croatia's AZ pension funds have acquired 99.9% of local real estate company M7 Primo for €21 million (HRK 161 million) via a capital increase ahead of M7 Primo's planned listing next year.