CTP has signed a €90 million loan agreement with Erste Bank Hungary Zrt. and Erste Group Bank AG to finance 4 logistics and industrial assets in Hungary. The multi-borrower financing is for 7 years. EY Budapest and White&Case Prague advised and provided legal services for Erste Bank, while CTP Hungary was represented by Kinstellar Budapest.

Entalpia Europe, a provider of HVAC-R solutions, has become the first tenant of the Hillwood Łazy logistics centre. Entalpia Europe has leased 14,000 sqm of warehouse space and 1,200 sqm of office space and will commence operations at the facility in Q3 2024.

VGP is starting the construction of new warehouses in its VGP Park Ústí nad Labem City. Building B is being prepared for the Czech logistics company RTR-Transport a logistika s.r.o.

According to the latest report by Newmark Polska, 2023 was one of the best years in the market’s history. It saw the second-highest new supply (3.7 million sqm) and the third-highest take-up (5.6 million sqm) and development pipeline (2.8 million sqm). Considerable warehouse availability levels brought a long-awaited stabilization of rental rates.

In 2023, MLP Group delivered a satisfactory set of results, both from the operational and financial point of view, driven by strong leasing performance on warehouse space across all its markets. The company recorded 29% revenue growth, with 2024 set to be the harvesting time.

CTPark Bucharest, the industrial park based near Western Bucharest with a leasable area of 565,000 sqm, has been refinanced following a syndicated loan deal.

MLP Poznań witnessed a foundation stone laying ceremony for a new project to be developed for HAVI Logistics. Once completed, the new facility – comprising 16,000 sqm of space – is scheduled for handover at the beginning of the second half of 2024. The project contracted to WPIP Construction, will undergo a BREEAM New Construction certification of ‘Excellent’.

Panattoni has completed and handed over the main European production facility of 13,000 sqm for Maxcess, an industrial automation system producer. 

After the very successful years of 2021 and 2022, known as the golden period of development of the industrial market in Poland, 2023 was a period of greater challenges due to a change in the macroeconomic situation. The main reasons were high inflation, which affected the purchasing power of consumers, persistently high-interest rates, and uncertainty over the eastern border. The market grew, but at a slower pace, especially in the first half of the year, to accelerate at the end of 2023. Development activity in January-December 2023 amounted to 3.7 million sqm (-16% y/y), and as a result, the sector's total stock rose to 31.7 million sqm (+13% y/y). Another 2.8 million sqm (-16% y/y) remains under construction, about half of which is not under signed lease. Gross take-up (which does not include short-term leases) amounted to 5.6 million sqm, and despite a lower result versus 2021-2022, it was significantly higher than in the pre-pandemic period, i.e., 2018-2019, says Axi Immo. 

Around 38% of industrial rental demand came from Bucharest in 2023, down from 48% the previous year, according to Colliers data.