Kinstellar has successfully advised its client, Ideal Projects (a joint venture between the Vetimex and Mirus groups) on the successful negotiation, signing, closing and refinancing of the Cluj-based Vivido, Advancity, and Cube office projects. This is the largest office acquisition outside Bucharest in Romania this year, with a total value exceeding €30 million.

The Arete investment and real estate group announced the opening of its third qualified investor fund, based in the Czech Republic and operating under the supervision of the Czech National Bank. This third fund is to follow on from the successful history of the preceding funds, with the first fund having been closed three years ago and investors paid off with a total gross appreciation of 120%, while the second fund has fulfilled its strategy with its current gross appreciation of over 90%. The new Arete fund will both invest into completed industrial real estate in Central and Eastern Europe and also itself construct new logistics and manufacturing buildings. Its portfolio target value should approach €500 million during the anticipated six-year investment cycle.

Allianz announced its intention to combine the strengths of PIMCO, one of the world’s premier fixed income investment managers, and Allianz Real Estate, the captive real estate specialist with more than €70 billion of assets under management. This organic move is proposed to strengthen its Alternatives capability by creating one of the world’s most preeminent real estate managers. It will manage over €100 billion in core, value-add and opportunistic real estate across Europe, the US and the Asia-Pacific Region.

The maturity of the industrial real estate sector in Poland’s five largest markets does not necessarily mean limited investment opportunities for developers and tenants. The importance of smaller markets has been growing recently in Poland, which gives the possibility to expand into locations that were previously out of developers’ and tenants’ interests, according to JLL.

CBS International, part of the Cushman & Wakefield Group, has been assigned to provide facility management services for the Blue Center office building in New Belgrade by owner Bluehouse Capital.

CPI Property Group announced the acquisition of Equator I office building in Warsaw from Immofinanz. The investors previously acquired the Equator IV office building in Warsaw from Karimpol Polska.

Poland is a major target for international capital with investment volumes in 2019 accounting for 55% of the CEE6 total. The Czech Republic followed with a 24% share and Hungary with 13%. Elsewhere in the region, volumes fell short of 2018 & 2017 volumes. Despite record low yields in most markets and sectors, some further yield compression is anticipated over the next 12 months as strong levels of capital seek product and returns. Colliers International published its investment market summary for 2019.

Nearly all market indicators point to positive developments on the Serbian market with further growth expected in all segments. Mia Zečević, the CEO of Serbia’s Novaston Real Estate Platform talked to Property Forum about the company’s development plans and shared her insight on the current trends shaping real estate markets in the Balkans region.

Pasaż Chełmiński, modern retail park, in the main shopping area in Chełmno, has been sold by TUF Real Estate to LCP Properties. Avison Young’s investment team represented the buyer in the transaction.

Panattoni has delivered its first Class A warehouse in Żory, Silesia. Nearly half out of the initial 36,500 sqm has already been leased out to first tenants. This February, cargo-partner spedycja sp. z o.o. is moving into the facility, to be followed by Piast Cargo and a tenant from the food industry in March. At full build-out, Panattoni Park Żory will total 84,000 sqm. The project is under construction in a strategic location in Southern Poland, close to the Czech border.