Immofinanz is continuing the expansion of its Stop Shop retail park brand, as announced, and has added eight locations to the portfolio shortly before the end of the year. Six fully rented retail parks in Serbia and the Czech Republic with roughly 43,000 sqm were purchased from Mitiska REIM, a Belgian investor specialised in these types of commercial properties. In addition, Immofinanz closed the purchase of a fully rented retail park (approx. 5,500 sqm) in Voitsberg, Austria, during the fourth quarter of 2020. The portfolio in Croatia will be increased by one property in the city of Ludbreg.

The 172 million-strong consumer market of the CEE-17 region  should continue to deliver better growth rates and returns than more developed markets in retail and other sectors according to a new report released by Colliers International

Penta Real Estate has sold the Churchill Square office complex near Prague’s main railway station for more than €150 million (CZK 4 billion) to Českomoravská Nemovitostní and Corporate Finance House Group. This is the largest office transaction on the Czech investment market this year. The acquisition was financed by German bank Helaba.

Demand in the third quarter of the year picked up Zagreb’s office market compensating for the slow market activity observed in the second quarter of 2020. Cushman & Wakefield | CBS International Croatia published its Q3 2020 report for the Zagreb office market.

The developer has begun construction work on Panattoni Park Kalisz in the city’s southwestern industrial district. It is to have 35,000 sqm of Class A space. The building is to be divided into small business units with the smallest module being 1,380 sqm. The first tenants in the park are to be logistics operators and they will start their operations in the building in April 2021.

Nexity has announced that sales of apartments in its latest investment in Warsaw - La Praga in Radzymińska St. - has come to an end. The transaction has been sealed by a contract made with a Dutch investment fund Van der Vorm Vastgoed, which acquired all available apartments (more than 80% of apartments in the real estate property). The fund declares that they will be available for long-term rental.

Managing directors believe that the conditions for doing business in the next six months will be the same or better than now. Only 9% of people fear that it will get worse. This optimism translates into the belief that employees will return to their offices in mid-2021, according to the CBRE report "The Future of the Office Survey". Currently, companies are prevented from physically returning to their office space by the high number of cases in a given country, the risk of the virus spreading through the company, and the employees’ reluctance to return.

Cushman & Wakefield have summarised Q3 2020 on the industrial market in Central and Eastern Europe. The CEE market is booming with record-high occupier activity reported in YTD 2020. The region has seen the strongest growth for logistics demand in Europe overall, predominantly driven by logistics and e-commerce. The acquisition of the Goodman portfolio by Gazeley is one of the largest logistics transaction seen in the region in the last decade and reflects the growing importance of the sector. Prime industrial yields remain at their 10-year lows.

NEPI Rockcastle is increasing the sustainability targets for the following decade and aims to become carbon neutral by 2030. The Group’s initiative meets the EU’s efforts to combat climate change through carbon neutrality. BuildGreen, advisor in the field of sustainable development in Central and Eastern Europe, will provide NEPI Rockcastle carbon-neutral audit and sustainability strategy, to meet the Group’s target and support the line created within the realms of the Paris Agreement.

Aareal Bank has arranged and underwritten the refinancing of two logistics and industrial parks in premium locations in the Czech Republic on behalf of CTP. Aareal Bank acted as Mandated Lead Arranger, Sole Lender as well as Facility and Security Agent. The facility comprises a total commitment of approximately € 403.5 million with a loan term of 10 years.