Atenor confirmed the closing of the sale of the third building of the Váci Greens campus in Budapest to Hungarian real estate fund OTP Prime Ingatlanbefektetesi Alap and consequently the collection of the full sale price, i.e. €63.75 million. Váci Greens B comprises 25,300 sqm of office space and 399 basement parking spaces.
With the sale of its 51% holding in the Aerozone logistics park to M7 CEREF I in Budapest, CA Immo has completed the strategic withdrawal from the logistics segment that began in 2012. Over the past few years, almost 500,000 sqm of logistical space in total has been sold in Poland, Romania, Hungary and Germany.
First Property Group has agreed to sell one of its three directly held properties in Romania, a logistics warehouse in Ploiesti, for €3.2 million. The purchaser, Aquila Part Prod SRL is also the current occupier of the property.
CPI Property Group announced that its subsidiaries have acquired a retail portfolio with the value of approx. €650 million consisting of predominantly 11 shopping centres located in the Czech Republic, Hungary, Poland and Romania with a total leasable area of approximately 265,000 sqm from two funds managed by CBRE Global Investors. The closing of the deal was completed on 29 March, 2017.
Skanska has sold Maraton, an office building located in Poznan, Poland, for €62 million. The property has been acquired by a real estate fund managed by Union Investment. It is the second sales transaction between Skanska and Union Investment in the Polish regional markets. The first sale between the two companies was Dominikanski in Wroclaw. Maraton is Skanska's second office project in Poznan following Malta House.
Diófa Asset Management has purchased the South Pest Business Park from Wing Zrt. The new owner is Magyar Posta Takarék Property Investment Fund, which is Hungary's second largest domestic open-ended fund. The city logistics scheme, located in the 9th district, is 90% occupied. The South Pest Business Park was transacted for app. €29.1 million (HUF9 billion).
Spanish investment fund, Azora Europa l, has sold Galleries Louvre, their prime office property in Prague 5, to Redstone Real Estate, a private equity platform. The counterparties agreed not to disclose the price. The property is a mid-sized office building offering approximately 4,800 sqm of prime administrative space and is fully and long-term let.
Echo Investment has sold West Link to Griffin Premium RE, a new platform created by Griffin Real Estate. The companies have just signed preliminary agreements as a result of which Griffin Premium RE will control and ultimately purchase the Wrocław-based office building West Link and invest into Echo Investment’s commercial projects in Warsaw – Beethovena and Browary Warszawskie.
Vienna-based investment manager GalCap Europe has acquired Merkúr Palota (the Mercure Palace), a fully renovated office building in Budapest. The seller is a private investor; both parties agreed not to disclose the purchase price.
Echo Polska Properties NV (EPP) and Echo Investment are buying Galeria Młociny in Warsaw from Rosehill Investments. The companies will pay nearly €42 million (including the liabilities of the company being the subject of the transaction) for the project which is already under construction.
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