Union Investment has acquired the Park Inn by Radisson Krakow, which opened in 2009. The transfer of rights and obligations with regard to the property is scheduled to take place by the end of May 2018. The 152-room hotel is located south of the Vistula river, close to the city centre and in the immediate vicinity of the modern ICE Congress Centre, where around 200 events are held every year. The vendor is a joint venture between subsidiaries of UBM Development AG and Lindorcenia Ltd. The Radisson Hotel Group manages the hotel and provides the brand name. The hotel is let on a long-term lease. The purchase price is approximately €26 million. Union Investment is acquiring the property for an institutional real estate fund.

The Focus Estate Fund has acquired Park Handlowy Eden (Galeria Eden), Zgorzelec (Poland). Focus intends to invest more than €1.5 million in repositioning the 8,500 sqm retail centre with the support of its partner in development and leasing, Młyn Retail Parks Sp. z o.o.

One United Properties and Auchan Romania plan to invest €100 million in a new mixed-use project in Bucharest called One Floreasca City.

Skanska has sold the Green2Day building in Wroclaw, Poland, to the real estate fund manager Niam. It is the developer’s fifth office project in the city with its sixth – Nowy Targ – currently under construction.

Last week an affiliate of U.S. private equity firm Starwood Capital Group (SOF-11 Starlight 10 EUR) announced that it intends to make a voluntary partial public takeover offer for the acquisition of up to 5% in Immofinanz. The Executive Board of Immofinanz determined that the offer price is too low.

Immofinanz has sold the Brno Business Park office buildings via a share deal to Infond investment fund. The transaction was closed on March 9, 2018. bpv Braun Partners advised Immofinanz on the sale. Infond has been advised by Hladky Legal, Knight Frank and Redbaenk.

Eston International’s portfolio grew by a REIT evaluation as the Hungarian advisory firm became the official property valuer of Graphisoft Park in January 2018.

An affiliate of U.S. private equity firm Starwood Capital Group (SOF-11 Starlight 10 EUR) announced the launch of a voluntary partial public takeover offer for approximately 26% of CA Immo and 5% of Immofinanz shares.

The World Bank Office in Romania and the District 5 City Hall of the Municipality of Bucharest signed a reimbursable advisory service (RAS) agreement – a form of technical assistance - to support the implementation of urban development solutions that will boost growth and improve the quality of life in District 5.

Israeli-owned company Hagag Development Europe plans to invest €70 million in new projects in the Romanian capital. The developer has recently acquired two buildings on Calea Victoriei for €20 million and a 3 ha land plot near the Pipera forest. Hagag will invest a further €50 million in the procurement and development of the projects.