Resolution Property has completed the acquisition of a ca. 37,200 sqm office portfolio in Budapest, Hungary. The portfolio is comprised of two fully let, recently refurbished, Class A office buildings, Margit Palace and Buda Square, acquired from CEE-focused Hungarian fund manager Adventum Ltd.

IHG (InterContinental Hotels Group) has signed a management agreement with Granit Polus Group for a compelling property to be re-branded to Crowne Plaza Budapest in 2021. The hotel, located in downtown Pest in the same building complex as the Westend City Centre shopping centre, is currently operated by Hilton under the name Hilton Garden Inn Budapest City Centre.

Panattoni is developing another modern and ecologically sustainable cross-docking terminal for DB Schenker. The 6,000 sqm centre is to be built within the Rzeszów-Dworzysko Science and Technology Park. It will be equipped with a range of solutions to protect the environment as well as intelligent systems to optimise logistic operations. The developer is to hand the centre over in January 2021 and the development has already been accredited as an innovative centre by the Rzeszów Regional Development Agency.

Iceland, Sweden and Norway show top potential for hyperscale and cloud-scale data centre investment, followed closely by Denmark and the Netherlands according to research from Savills. The CEE region is also becoming more important in strategic plans for key players, with Poland having the potential of being in its heart.

Mint Investments has established a new real estate fund which will target people interested in investing in the resi-for-rent sector. MINT rezidenční fond SICAV plans to acquire rental residential buildings in large Czech cities, mainly in Prague and Brno. The fund completed its first €19 million (CZK 500 million) acquisition in the country’s second-largest city – Mint Living Brno Campus comprises 120 apartments as well as office and retail space.

Warburg-HIH Invest Real Estate GmbH has kicked off the process of converting its European real estate portfolio to green energy. The Hamburg-based investment manager successfully implemented the new energy supply for the LEED Platinum-certified White House office building in the Hungarian capital of Budapest in partnership with operating costs expert Westbridge International AG. The move will cut the building’s carbon emissions by just under 2,700 tonnes within the next three years. The fully let building is part of an open-ended special alternative investment fund (AIF) managed by Warburg-HIH Invest.

Global logistics company Hellmann Worldwide Logistics is strengthening its position in the Czech Republic. At one of the largest industrial parks in the country, CTPark Bor, the company is expanding its total warehouse space. Besides the existing 20,000 sqm site that Hellmann currently operates, an additional area of almost 12,000 sqm will be added by the end of the year. Hellmann uses the CTPark Bor for worldwide distribution but with a strong focus on the German market.

Hines has acquired a major logistics park in Wrocław on behalf of the Hines Pan-European Core Fund (HECF) from GLL Real Estate Partners (GLL), the fund manager which is part of the Macquarie Group. The 123,499 sqm logistics park is fully leased to a global online retailer. The mezzanine warehouse facility was developed in 2015 by Panattoni Europe. The transaction price has not been disclosed.

CTP has acquired 95,000 sqm of buildings from Australian company Cromwell Property Group, representing the largest transaction on the Romanian logistics market in 2020.  With this acquisition, the company expands CTPark Bucharest, thus reaching over 500,000 sqm of rentable space, occupied by over 100 customers. This acquisition aligns with CTP's strategy to create business communities and parks with complex infrastructure, thus supporting residents' businesses.

Zeitgeist Asset Management is expanding its portfolio of flats for rent in Poland. JLL advised the investor on the purchase of the property located at 34 Czyżewskiego Street in Gdańsk-Oliwa. The project is being carried out by a Tri-City developer – the BMC group.