The acquisition of the second phase of Advance Tower located on the Váci road office corridor has been closed. With the current purchase, the entire office complex with a total GLA of over 20,000 sqm developed by Futureal Group has joined Erste Real Estate Fund’s portfolio. This is the first transaction in the Hungarian market which includes a WELL pre-qualified office building.

M7 Real Estate has sold three assets in Poland, on behalf of an M7 vehicle, PVBRI. Two office buildings in Poznan has been sold to local investors, while a shopping centre located in Zgorzelec has been acquired by DL Invest Group.

Alpha Bank Romania has sold a 60,000 sqm plot of land in Timișoara to German retail chain Lidl and two other investors. The Romanian bank previously planned to develop a shopping centre there, Ziarul Financiar reported.

Union Investment has agreed to acquire two planned hotel properties in Kraków and Katowice with a total of 527 rooms. The developer, vendor and future operator of the two midscale hotels, which are scheduled for completion in autumn 2021, is UBM. The purchase price of the ibis Styles-branded hotel in Kraków and Mercure-branded hotel in Katowice is approximately €86 million in total. Both leases run for 25 years.

Invesco Real Estate has sold two build-to-suit distribution centres in Poland totalling 105,000 sqm to Chinese investment company CGL Investment Holdings Corporation. The sale was made on behalf of Invesco’s strategic opportunities investment programme and the corporate transaction has set new records for the market with assets valued based on a record yield for the Polish logistics market of 4.25%. The purchase price was not disclosed.

Cavatina Holding has signed a sale agreement for the Equal Business Park office complex in Kraków. The complex comprises four buildings offering a total of over 60,000 sqm of Class A office space. The buyer is a joint venture managed by Apollo-Rida Poland.

Globalworth Real Estate Investment, by buying a 50% stake from Elgan Group, has become the sole shareholder of real estate developer Elgan Offices. The two companies developed the Renault Bucharest Connected (RBC) building located in the western part of Bucharest. Elgan Group is owned by Israeli businessman Simon Roth.

Hungary’s Indotek Group has agreed to acquire the majority ownership of local investor Diófa Asset Management. As one of the leading investment management and real estate development groups of Hungary, Indotek Group – as a professional long-term investor – intends to provide the ownership background Diófa Asset Management is in need of, in order to strengthen its market position and to develop its portfolio of services on the markets of property management and investment products.

Britain’s Poseidon Group and Belgium’s Mitiska REIM has sold Capitol Park Rakovica, the largest retail park in Belgrade, to Israel’s BIG CEE Group. The transaction closed in December 2019. CMS Belgrade advised the sellers.

RF CEE Real Estate SCA SICAV – RAIF, an investment fund owned by the Polish Reino Capital and Australian Corvala, has bought the Malta House office building in Poznań. Avison Young represented the seller in the transaction.