ARTICLES IN Investment TOPIC

08
Feb
2017

Czech open-ended fund buys Bratislava office building

by Ákos Budai
ČS Real Estate fund, the largest and oldest Czech open-ended property fund, managed by REICO, has acquired the Park One office building in Bratislava for €35.6 million from private investment firm Falcon II Fund. 
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03
Feb
2017

Atenor sells Budapest office building to Hungarian investors

by Ákos Budai
Belgian developer Atenor announced the sale of building A of the Váci Greens office complex in Budapest to a group of private Hungarian investors. This building is the first of the three buildings built by Atenor on the Váci Corridor.
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03
Feb
2017

Plaza Centers completes sale of Suwałki Plaza

by Ákos Budai
One of the subsidiaries of Plaza Centers has completed the sale of Suwałki Plaza shopping and entertainment centre in Poland to an investment fund for €42.3 million, which is in line with the last reported book value, the company reports.
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02
Feb
2017

Zeus Capital Partners LP sells Sofia office building

by Ákos Budai
Zeus Capital Partners LP, a private equity fund managed by Zeus Capital Management has sold Kambanite Business Centre (KBC), located in Sofia, Bulgaria, to a group of undisclosed European institutional investors. This is the Fund’s largest portfolio investment, which was acquired at the end of 2011.
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02
Feb
2017

EPP buys 4 Polish malls from Blackstone

by Ákos Budai
Echo Polska Properties (EPP) has concluded a preliminary acquisition agreement with two real estate funds managed by Blackstone, to acquire 4 retail properties for €166.57 million. The properties are Galeria Twierdza in Klodzko (€40.67m), Galeria Twierdza in Zamosc (€53.51m), Galeria Tecza in Kalisz (€23.21m) and Wzorcownia Shopping Centre in Wloclawek (€49.17m). 
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02
Feb
2017

US and Hungarian investors spend the most in Budapest

by Ákos Budai
Investors spent €1.54 billion in 2016 in the Hungarian commercial real estate market surpassing the 2015 level by 107%. Last year both office properties and retail properties were in request, thus CBRE is expecting a similar or even higher turnover for 2017.
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23
Jan
2017

AEW sells Prague office building to Czech investor

by Ákos Budai
AEW has sold the Smíchov Gate office building in Prague 5 after almost ten years of ownership on behalf of one of the funds managed by AEW. The new owner is Redside, manager of real estate open-ended investment fund NOVA Real Estate (SICAV). Cushman & Wakefield facilitated the sale of the property.
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23
Jan
2017

Colliers sells former warehouse unit near Budapest

by Ákos Budai
At the end of last year Colliers sold the former Bricostore DIY-unit in Törökbálint to Régió, a Hungarian toy company. The building has approx. 12,000 sqm of GLA and will be used by Régió for warehousing purposes.
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19
Jan
2017

Arcona Capital acquires 3 more Polish shopping centres

by Ákos Budai
Arcona Capital has announced that its Arcona Property Fund is on course to complete the acquisition from RECE of a portfolio of 11 neighbourhood shopping centres in Poland for €25.9 million. Arcona has already completed on eight of the centres and will complete on the other three centres by the end of the first quarter of 2017.
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18
Jan
2017

CA Immo becomes sole owner of two CEE office buildings

by Ákos Budai
CA Immo has completed negotiations with Union Investment Real Estate GmbH on acquiring 49% of shares each in the office buildings Danube House in Prague and Building A of Infopark in Budapest, both so far part of the open-ended property fund UniImmo: Europe. The deal, which has already been closed, will make an immediate positive contribution to long-term profitability by around €3 million.
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Latest news


New leases

  • FitFabric will open a fitness club in the WIMA Widzewska Manufaktura mixed-use complex, developed by Cavatina Holding on al. Piłsudskiego in Łódź.
  • Stokrotka, Polish grocery chain has leased almost 3,000 sqm (including 125 sqm of office space) in 7R Park Bydgoszcz I warehouse complex.
  • German healthcare services provider doctari group has opened a technology hub in Iulius Town, the mixed-use project based in Timișoara. The company plans to hire 30 tech specialists in the new office.

New appointments

  • GalCap Europe is further expanding its team. With immediate effect, Mag. Peter Tatzl will strengthen the fund and investment management division as Director of Investment.
  • Czech developer Contera has promoted Svetozár Rohoň MRICS as Country Manager for Slovakia.
  • Vlad Săftoiu has been appointed Head of Research at real estate consultancy Cushman & Wakefield Exhinox. He has been working for the agency since September 2017. He has a Bachelor’s degree in International Relations at the University of Essex and a Master’s degree in International Security at the University of Warwick in the UK.


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