Prologis has announced that Prologis European Properties Fund II (PEPFII) has acquired M0 Central Business Park in Hungary from IDI Gazeley. Two newly acquired, 100 percent let, facilities totalling 31,443 square metres will become part of the adjoining 98-percent let Prologis Park Budapest-Sziget, which currently comprises seven buildings totalling 150,000 square metres.

GIC, Singapore’s sovereign wealth fund, has completed the purchase of P3, one of the leading pan-European owners, developers and managers of logistics properties, from TPG Real Estate and Ivanhoé Cambridge. The deal, which values the business at €2.4 billion, was first announced in November 2016, but had to be approved by EU regulators before it could be finalised. It is one of the largest European real estate transactions of 2016.

TPG Real Estate, the real estate platform of global private investment firm TPG, announced that it has completed the purchase of A&O Hotels and Hostels, the largest fully integrated, privately-owned, hostel platform in Europe. The transaction will help A&O expand and enhance its operations.

Real Estate Central Europe Group has finalised its sale of eight retail and service schemes totalling more than 16,000 sqm to Dutch investment fund Arcona Property Fund. Cushman & Wakefield represented the vendor in the transaction.

Skanska has sold Westin Warsaw, a five star hotel in Warsaw, Poland, to Al Sraiya Holding Group. The value of the transaction is €56 million and the sale was recorded by Skanska Commercial Development Europe in the fourth quarter of 2016. The transaction is expected to be closed in the first quarter of 2017.

Echo Investment has agreed to sell the former Cracovia hotel building in Krakow to Poland’s Ministry of Culture. In the future, the new owner plans to use the site as a location for a gallery of design and architecture.

Echo Polska Properties (EPP) and Echo Investment concluded final agreements concerning a joint purchase and development of a mixed-use project at 22 Towarowa Street in Warsaw. The property with an area of 6.5-ha is located in a rapidly developing part of the capital city and it is the largest commercial plot in the city centre.

Blackstone has sold the Hilton Prague Old Town hotel and Gestin Centrum, an adjacent 6,900 sqm mixed use commercial building, to Singapore-based real estate investment group M&L Hospitality. JLL’s Hotels & Hospitality group advised Blackstone on the sale.

Slovak investor IAD Investments, acting through its fund Prvý realitný fond o.p.f., has purchased Laugaricio Shopping Centre in Trenčín, Slovakia. The original owners were private investors represented by Mint Investments. This sale, the largest property transaction in Slovakia this year, was brokered by Cushman & Wakefield. 

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.