Cushman & Wakefield, representing CIB Bank, have facilitated the transfer of the former CIB Bank Headquarter offices on Szabadság square, Central Budapest to a German investor as of December 1, 2016. 

M7 Real Estate, the pan-European investor and asset manager, announces that it has made two further acquisitions for the recently launched CEREF I fund. The acquisitions in Croatia and Hungary totalling €14 million mark M7's first entry into both countries.

As announced in October 2016, Rockcastle concluded a preliminary agreement to acquire Galeria Warmińska shopping centre in the city of Olsztyn in Poland from Galeria Warmińska Spółka z Ograniczoną Odpowiedzialnością Spółka Komandytowa. All conditions precedent have been met and the transaction was concluded effective as of 15 December 2016.

The sale of Q22 skyscraper located on al. Jana Pawła II in Warsaw has been completed and Invesco Real Estate has become the new owner of the building. Echo Investment expects that the value of the transaction based on fully let NOI and an agreed yield, after all adjustments and additional payments, shall amount to €273 million. The acquisition of Q22 is the largest investment transactions in the office market in Poland and one of the biggest in Central and Eastern Europe in 2016.

Immofinanz has announced the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business. The portfolio covers 88 properties with approx. 108,000 sqm of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017. 

FLE GmbH, a company of the LFPI group, has acquired its first property in CEE from an international institutional seller. The acquisition relates to the office building Office Garden I in the Southern Buda area of Budapest, that is 93 percent leased and offers 16,000 square meters of leasable space. The seller was represented by JLL.

An opportunity fund advised by Tristan Capital Partners, a pan-European real estate investment manager, has agreed to sell the Zakopianka Shopping Centre in Krakow, Poland, to Johannesburg-listed Echo Polska Properties for approximately €54 million.

CPI Hungary has sold its V188 office building and an adjacent development land (V190), both located on Budapest’s Váci corridor, to a Hungarian investment group. CPI Hungary plans to use the funds for increasing the value of its current portfolio and to implement new green investments. 

Mint Investments, a Central European real estate investment & asset manager sold Panorama Business Center in Prague. The buyer was REDSIDE, manager of real estate open-ended investment fund NOVA Real Estate (SICAV). The seller was advised by CBRE.

Belgian real estate developer Atenor announced the sale of Váci Greens Building C to Czech investment fund ZFP realitní fond (managed by ZFP Investments). This building is one of the three buildings completed by Atenor within its Váci Greens development in Budapest. Building C, completed in June 2015, comprises 18,500 sqm of office space, fully let to General Electric.