Financial advisory group Rothschild & Co. was sued in New York for allegedly helping Radovan Vitek, the majority owner of CPI Property Group, secretly acquire controlling shares in Orco Property Group.  Kingstown, a New York hedge fund, is claiming €1 billion of damages for the alleged fraud. CPI Property Group and Radovan Vitek deny the allegations and claim that the New York lawsuit is baseless and has no merit.

Via a subsidiary, TAG Immobilien AG signed an investment agreement to acquire 100% of the shares in Vantage Development S.A. with a simultaneous carve-out of its commercial real estate business which will be repurchased by the selling shareholders. The total transaction consideration amounts to c. €131 million, of which c. €46 million relate to the commercial real estate business unit. As a result, the total net consideration for TAG amounts to c. €85 million for the residential business and platform of Vantage Development.

HGA Capital, a member of the CARISTO Management Group, has sold the Oktogon House office building in central Budapest to a company belonging to RIMO Holding AG. The transaction price has not been disclosed.

The first international industrial/logistics developer present on the Serbian market is expanding its portfolio rapidly. Vlatko Djuricek, Country Head of Serbia at CTP talked to Property Forum about the company’s future plans.

Cushman & Wakefield has been appointed as sole letting agent for Riverside Park and Grójecka 5 in Warsaw, and Arkońska Business Park in Gdansk. Cromwell Property Group acts as the property manager for the buildings.

The Warsaw Mennica Legacy Tower complex’s Western Building has been opened. The sole tenant of the building is WeWork. The new location of the company will be the largest “flexible space” for lease in the whole Central and Eastern Europe. Arrangement works in the 140-metre-high Tower of the complex will constitute the final stage of the execution of Mennica Legacy Tower.

In the past five years, Colliers International has performed valuation for a total of over 500,000 commercial and residential properties worth €40 billion in Romania. The most complex and comprehensive appraising process in Colliers International’s portfolio was for BCR Palace on University Square in Bucharest.

Prologis has signed one of the largest leasing transactions in Europe this year. Long-term partner EURO-net will lease 160,000 square meters at Prologis Park Janki.

Global commercial real estate leaders are optimistic about the industry’s prospects over the coming year, despite global economic volatility, according to Deloitte 2020 Commercial Real Estate Outlook. 76 percent of respondents expect a positive evolution of the industry in the next period. The survey shows that the tenant experience has become a top priority for most commercial real estate leaders, with a focus on investment in new technologies.

New research from Cushman & Wakefield reveals the last link of the e-commerce supply chain can account for 50% or more of total supply chain spend.