The Palace of the Generala Insurance Company, a historical building in the city centre of Bucharest that served as the headquarters for lender BCR, the local subsidiary of Austrian Erste Bank group, has been put up for sale.
M7 Real Estate announced that, on behalf of M7 Polish Active Fund (M7 POLAF), it has acquired three multi-let office assets in Poland in separate transactions for a total of €45 million which will form the first tranche of capital deployed for the Fund.
Generali Real Estate, on behalf of Generali Europe Investments Holding (GEIH) Fund, has acquired Piękna 2.0, a landmark office building in Warsaw, from an investment fund advised by Griffin Real Estate.
Globalworth has completed new acquisitions of two buildings in Poland, Warsaw Trade Tower (WTT) in Warsaw and Rondo Business Park in Krakow, for c. €170 million. Including these recent additions, Globalworth’s Polish portfolio has grown to almost 500,000 sqm of GLA in office and mixed-use properties.
Penta Real Estate has sold the 80,000 sqm office component of the Waltrovka complex in Jinonice, Prague 5 to Munich-based real estate fund manager GLL Real Estate Partners (GLL), a member of Macquarie Group, acting together with LB Asset Management on behalf of South Korean investor Hanwha Investment & Securities in a transaction worth over €250 million.
Brickblock, a technical service provider based in Berlin, has tokenised a residential real estate vehicle carrying a property in Wiesbaden, Germany. It is the first transaction in the EU for which shares are represented on the blockchain. The sale of the €2 million property was exclusive to eligible investors.
Patrizia Immobilien AG has finalized the sale of its Atrium International office building on Jana Pawła II Avenue in Warsaw to Strabag Real Estate. This is a very attractive investment location on the capital's market, as the local development plan allows for the construction of an office tower with a height of up to 135 meters. Experts from JLL represented the vendor in the transaction process.
Globalworth announced that Aroundtown SA has acquired an 11.8% stake in the Company. Aroundtown is a real estate company with a focus on properties with value-add potential in central locations in top tier cities primarily in Germany and the Netherlands. With a commercial real estate portfolio worth more than €13 billion, Aroundtown is the largest and highest rated (BBB+ by S&P) commercial real estate company in Germany and the 4th largest in Europe (based on market cap of €8.6 billion).
Cushman & Wakefield assisted Generali Real Estate in the acquisition of Palác Špork, a unique scheme in Prague 1. The seller is SEBRE, a.s. The price remains undisclosed. The agreement was signed on 11 March.
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