CTP will modernise the Spielberk office complex near the Brno city centre. The aim is to lower energy consumption and ultimately reduce the carbon footprint of the site. CTP is investing almost €1.5 million (CZK 40 million) into modernising the energy system.

On 5 August 2020, CPI Property Group auctioned HUF 30 billion (about €86 million) of senior unsecured green bonds with a 10-year bullet maturity. The bonds carry a coupon in Forint of 2.25% and were sold at a yield of about 2.02% following a robust investor response with bids of more than HUF 45 billion received at auction. The issuer was the Group’s subsidiary CPI Hungary Investments Kft., with an unconditional guarantee from CPIPG. Raiffeisen Bank Zrt. acted as sole mandated lead arranger on the offering.

Atrium European Real Estate has completed the sale of five retail assets in Poland to Metropol Group. The value of the transaction remains confidential. The seller was represented by the Avison Young and JLL investment teams throughout the transaction.

According to a new report published by Cresa Poland, the Tricity office market is likely to become a tenant’s market soon due to the changing market environment. Tricity is still attractive for the BPO/SSC/GBS sector. Additionally, investments in its seaport and transport infrastructure are a magnet for sea freight operators.

Cordia Group announced that Tomasz Łapiński stepped down as a CFO of the company and he is succeeded by Péter Bódis, who has over 20 years of experience in capital markets and investment fund management in international organizations.

A survey, prepared by Cushman & Wakefield in partnership with FIHR, targeting Romanian hoteliers was launched in April 2020 to understand the impacts the COVID-19 pandemic holds on the commercial lodging industry. The survey asses the ways in which business have been affected while identifying the critical factors to prevail from the crisis. Cushman & Wakefield and FIHR remain committed towards ensuring that the industry receives appropriate support by collecting and analysing available data and appealing to authorities.

The lockdown period and the uncertainty of the economic impact of the coronavirus pandemic pushed some tenants to temporarily withhold their decisions in pending lease negotiations. Gross take-up climbed to 334,800 sqm in H1 2020, representing a 17% decrease on the same period in 2019, with most transactions having been commenced in the pre-pandemic environment. Cushman & Wakefield summarised H1 2020 on the Warsaw office market.

Over the second quarter, Prologis turned in a strong result both globally and in Europe, despite ongoing uncertainty due to the COVID-19 pandemic. The logistics sector remained resilient during the period with robust take-up levels and declining vacancy thanks to tight supply and sustained and growing demand.

Despite the COVID-19 pandemic, the sentiment on the Polish office market appears to be optimistic. Total office stock currently amounts to just over 11.3 million sqm, with Warsaw the undisputed leader, followed by Kraków. During the first six months of the year, tenant activity reached approx. 667,800 sqm, with new contracts accounting for more than half of take-up. Despite limited new supply (275,700 sqm in H1 2020), the vacancy rate increased to 7.9% (+40 bps Q/Q) in Warsaw and 10.2% (+70 bps Q/Q) in regional markets as at the end of Q2. Axi Immo summed up the first half of 2020 on the Polish office market.

A company from Chariot platform, managed by Griffin Real Estate, a private equity investor operating in the real estate sector, signed an agreement with Auchan Poland to extend the lease of its six retail properties totalling 83,000 sqm. The lease agreement was signed for a period of over 12 years. The transaction is certainly one of the largest retail leases that has been closed in Poland.