GIC, Singapore’s sovereign wealth fund, has signed an agreement to acquire a pan-European logistics real estate portfolio (Maximus) from funds managed by affiliates of Apollo Global Management, Inc., a leading global alternative investment manager, for a net consideration of approximately €950 million. This acquisition is in line with GIC’s strategy to scale up its fully-owned P3 logistics platform and reinforce P3’s position as a leading developer and manager of logistics properties in Europe. 

With the payment transferred on 13 December, Wing has acquired a 100% stake in Lisala, which in turn owns a 56 % stake in ECHO Investment, a company listed on the Warsaw Stock Exchange (WSE). This acquisition makes Wing a major real estate firm at the regional level. Supporting Echo Investment’s long-term growth program, Wing enters as a strategic investor. At the operational level, the two companies will continue to operate independently.

Europa Capital has sold the Radisson Collection hotel in Warsaw on behalf of its value add fund, Europa Fund V to Wenaas Hotels Europe A/S, part of Wenaasgruppen. The sale follows the comprehensive refurbishment of the property, which has been upgraded from a Radisson Blu to a five star Radisson Collection branded hotel, the first in Poland. The 311-room hotel will continue to be operated by Radisson Hospitality AB under an International Management Agreement.

GTC has closed the sale of the 16,100 sqm Neptun Office Center in Gdańsk to buyer CBRE Global Investors. The Class A office building is located in Gdańsk Wrzeszcz, at Aleja Grunwaldzka. Completed in 2014, Neptun Office Center offers 16,100 sqm of modern office space and 160 parking spaces.

Patrizia Immobilien AG has sold the Feniks office building in Warsaw to a South Korean investor via Warburg-HIH Invest Real Estate. Savills advised the buyer in the transaction.

CPI Property Group announced the acquisition of the Warsaw Financial Center office building in Warsaw, Poland. CPIPG acquired WFC by purchasing 100% of shares in a company owned since 2012 by Allianz Real Estate (acting on behalf of Allianz Group companies) and Curzon Capital Partners III, an investment core-plus fund managed by Tristan Capital Partners.

Triholding Group has acquired a historical building in downtown Budapest. Alexander Court, which has an NLA of 1,000 sqm, can be transformed into a modern office building or a hotel.

S Immo Hungary closed a major deal by selling one of its Budapest office buildings. The transaction was conducted after a longer negotiation period. Twin Office Center was part of the company’s portfolio for 14 years, operating with 100% occupancy. Neither the name of the buyer nor the transaction price has been disclosed.

Local investor DRFG, through its Czech Real Estate Investment Fund, has acquired the Olomouc CITY shopping centre from Mint Investments. With this acquisition, DRFG manages the first primarily leisure-oriented property in its portfolio.

Invest4SEE has sold the second phase of the Invest4SEE Industrial Park Dubnica to REICO’s ČS nemovitostní fond for around €9.5 million. CBRE represented Invest4SEE in the negotiations.