EPP delivered a solid performance for the first six months of 2021 in line with expectations. Both EPP’s distributable earnings increased by 54% to €33.2 million, compared to H1 2020. EPP’s net asset value per share increased by 3% to €1.12. A swift operational recovery following lockdowns and the progress made in Poland’s COVID-19 vaccination programme, low infection rates, a resilient economy, and high employment levels all support EPP’s robust performance and bode well for the future.

Retailers and residential developers are driving demand in the land market and the volume of transactions is hampered by uncertainties regarding urban development legislation. 

CTP says it has taken over around 112,000 sqm of industrial space from Zacaria Industrial, representing parks in four cities, for an undisclosed sum. Following the acquisition, CTP has started operations in Craiova and expanded its presence in Sibiu, Arad and Oradea and its local portfolio has edged close to 2 million sqm.

Develia Group has signed a preliminary agreement with an investment fund managed by Adventum Group to sell all its shares in Wrocław Sky Tower. The sale price set at €84.4 million, will be reduced by the value of unpaid incentives for tenants. Finalization of the transaction is expected at the end of 2021.

Kajima Europe together with Griffin Real Estate has announced the establishment of a joint venture to finance and develop renewable energy projects located in Poland. As part of the deal, the JV has acquired a 72% stake in PAD-RES, a leading developer in the clean energy asset space in Poland.

Mint Investments’ residential fund (MINT I. rezidenční podfond SICAV) has entered into an agreement for the acquisition of four apartment buildings in Plzeň-Skvrňany with developer Trigema Real Estate. Construction of the 100 apartments for rent is scheduled to be completed in Q4 2022. The parties did not unveil the transaction price.

Romanian developer One United Properties will distribute 32.5 million lei (around €6.5 million) in cash dividends, while its share capital will be increased by up to 288.8 million lei (€58.4 million), according to a voted of shareholders. 

ConvergenCE closed the sale of the Árpád Center office building at the end of summer 2021. The property at the junction of Árpád Bridge and Váci Road was acquired by Investum Kft. During the transaction, ConvergenCE was represented by Cushman & Wakefield.

CTP has recently finalised two strategic acquisitions in Bulgaria as part of its two-year, €300 million expansion plan to further grow its presence in the country.

MNK Partners has acquired the Kodolányi János University building on Frangepán Street in Budapest on behalf of its MNK One Fund.