Investment into Central and Eastern European (CEE) countries (excluding Russia) for H1 2016 registered a substantial increase (59%) compared to same period of last year, surpassing €5 billion. Expectations are that for the entire year, investment volumes will reach and exceed the record volumes of 2015 with all CEE countries expected to perform strongly, says CBRE.
International real estate advisor Savills, on behalf of Aviva Investors has sold a Small Business Unit type warehouse and a 3.5 ha development land situated in Łódź Business Park. The buyer was industrial developer Panattoni Europe.
Robust commercial real estate investment activity continued in Q2 2016 across the core Central European markets and reached EUR 2.6 billion, a 56% increase on Q1, according to Cushman & Wakefield. This has pushed volumes over the last twelve months to EUR 9.3 billion, close to 2007 record levels.
Deutsche Hypothekenbank is acting as the sole lender to a real estate company, which is managed on behalf of four independent investors by Warburg-HIH Invest Real Estate GmbH, for the purchase of the Prime Corporate Center office building in Warsaw. The financing volume amounts to € 40.5 million. In addition to this long-term investment financing, Deutsche Hypo is also providing a short-term bridging loan to cover the VAT element in the amount of € 14.2 million.
The Bulgarian investment market saw a number of positive developments during the first half of 2016, according to the latest Colliers’ report. Part of the good news is that for the first time since 2012, income-generating transactions prevailed (85%) over speculative (15%).
Immofinanz has completed the purchase of 25,690,163 bearer shares (representing an investment of approx. 26%) of CA Immobilien Anlagen AG from Terim Limited (Cyprus) and four registered shares of CA Immo from O1 Group Limited (Cyprus). The closing took place today, on Tuesday, 2 August 2016. The purchase price for the package totals approx. EUR 604 million.
According to Cushman & Wakefield, robust commercial real estate investment activity in the core Central European markets of Poland, the Czech Republic, Slovakia, Hungary and Romania continued in the second quarter of 2016 and reached EUR 2.6 billion, a 56% increase on Q1. This has pushed volumes over the last twelve months to EUR 9.3 billion, close to 2007 record levels.
Immofinanz recorded net profit of EUR -390.4 million for the 2015/16 financial year (2014/15: EUR -376.6 million). The year-on-year decline resulted primarily from EUR -469.8 million of negative effects from the foreign exchange-adjusted valuation of the Russian portfolio and from a decrease in rental income to EUR 314.5 million (2014/15: EUR 385.6 million) which was caused by temporary rent reductions in Moscow and the planned sale of properties.
Commercial real estate investment remained strong across Europe in Q2 2016 totaling €54.0 billion, up 2.5 per cent on Q1 2016 and 30.4 per cent on the ten year average. Investment into CEE countries for H1 2016 registered a substantial increase (59%) compared to same period of last year, reaching almost €5 billion. Expectations are that for the entire year, investment volumes will reach and exceed the record volumes of 2015, with all CEE countries expected to perform strongly.
Rockcastle, a listed retail property company, has acquired Forum Liberec from British retailer Tesco for approx. 80 milionl EUR. Forum Liberec is a regional shopping centre located in the heart of Liberec, the capital of the North Bohemia region. The 47,000 sqm centre is tenanted by strong retailers including: Tesco, Cinema City, C&A, Datart, Gant, H&M, Lindex, New Yorker, Nord Blanc, Norma, ProBest, Reserved, Sportissimo and Tiger.
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