In mid-June, international property developer HB Reavis announced the completion of a major real estate deal. The developer sold its office property Metronom Business Center located in Prague-Butovice to ČS nemovitostní fond, managed by Česká spořitelna’s REICO investiční společnost, for a sum of €89.2 million (CZK 2.3 billon). JLL advised HB Reavis on the sale.

Cromwell Property Group has sold the Čestlice Business Park in Prague-East for €17.5 million to an undisclosed buyer.

Panattoni Europe commenced the construction of a new distribution centre near Warsaw. Completion of the first part of the investment is anticipated in February 2019. The lease transaction was mediated by the advisory firm JLL.

TriGranit launched the construction of its new Class A office development, Millennium Gardens, which is the final element of the Millennium City Center in Budapest. After its expected completion in 2020, the two-winged office complex, will provide approx. 37,000 sqm GLA and more than 600 parking spaces for tenants, greatly emphasizing today’s employee and tenant needs. In 2018-2019, the company is working on the launch of four office developments in Central Europe. As for its size, Millennium Gardens is one of the biggest office development project in Budapest to be handed over till 2020. Within the coming 12 months, TriGranit plans the start of the construction of 77,000 sqm GLA office space in Central Europe.

In recent weeks, JLL has participated in three large-scale investment transactions in the Czech Republic and Slovakia. These were strategic acquisitions of Wood & Company's real estate fund (the real estate arm of investment group Wood & Company), which recently acquired three premium office buildings.

Park Inn by Radisson announced the reopening of the Park Inn by Radisson Danube Bratislava in Slovakia - after an extensive renovation over the last two years. The hotel is located in the heart of the historic centre, near to Bratislava Castle and the Danube River.

AFI Europe Romania announced the appointment of Doron Klein as CEO of the company starting from July 2018. Doron currently leads AFI Europe’s Czech operations. He will replace David Hay, who held the position of CEO of AFI Europe Romania over the past seven years.

JLL Spark, a division of JLL, announced the creation of JLL Spark Global Venture Fund, which plans to invest up to $100 million in companies focused on leveraging technology to improve everything from real estate development and management to leasing and investing, while enhancing the experience of those who occupy it. The fund will also help entrepreneurs and their companies by connecting them with JLL’s business lines and clients for insightful feedback and distribution of their products.

Regional cities in Poland are attracting an increasing number of tenants and more development activity. Cresa analysed the office markets of Wrocław, Łódź and Tricity.

First Property Group buys acquired the principal operating companies owning the majority of properties situated in Kraków Business Park (KBP).