Warburg-HIH Invest Real Estate is improving the carbon footprint of its portfolio within the scope of its ESG strategy. The real estate portfolio is gradually being converted to an environmentally-friendly supply of electricity from ecological sources and heat from carbon-neutral natural gas. In joint undertaking with the Hamburg-based energy provider Lichtblick, a total of 126 properties are currently being converted to the use of green electricity. This will allow for a reduction of carbon emissions in the portfolio by around 7,500 tonnes annually. Warburg-HIH Invest will also be gradually converting its entire European real estate portfolio to green electricity.

The recent transactions closed in the last weeks, with a total value of €400 million, demonstrate that the investment market in Romania remains strong and attractive even in the COVID-19 pandemic period, Romania no longer being just seen as just a fringe market of Central Europe, according to Cushman & Wakefield Echinox.

Six investors, representing the most active players of the Slovak property market, discussed the experiences of the pandemic period and shared future strategies at Bratislava Property Forum 2020, an annual event co-organised by Property Forum and RICS.

Germany and Central Eastern Europe (CEE) reported investment turnover growth across commercial real estate in H1 2020, despite the effects of COVID-19 in Q2, according to the latest Savills European Investment Spotlight.

CPI Property Group published an update regarding the lawsuit filed in April 2019 in the United States District Court for the Southern District of New York. The lawsuit concerned a group of Kingstown companies, Investhold LTD and Verali Limited (who filed a claim against CPIPG and Mr. Radovan Vitek and other parties alleging violations of the Racketeer Influenced and Corrupt Organizations Act in the United States. On 4 September 2020, the SDNY Court dismissed the claims against all defendants and directed the clerk of court to close the case.

CPI Property Group’s property portfolio increased to €9.8 billion (up 8% from year-end 2019) as the Group made €928m of acquisitions, primarily offices in Warsaw and a 29.4% stake in Globalworth. The company published its unaudited financial results for the first half of the 2020 financial year.

In mid-March, when COVID-19 challenged every aspect of ‘normal’, the European higher education and student housing industries entered an unpredictable time with regards to knowing how best to secure positive learning and living experiences. Given the nearly daily changes accompanying the situation, many higher education institutions and student housing operators chose to follow an active co-learning path, flexible scenario-planning and making bold decisions when necessary. During the summer, Bonard and The Class of 2020 launched a joint research project with the aim to provide as accurate and up-to-date information as possible to assist industry leaders in making further strategic decisions to create more sustainable knowledge ecosystems for global talent amidst the pandemic.

Warimpex achieved a positive operating result (EBITDA) in the first half of 2020 despite losses in the hotel segment due to the coronavirus. This can be attributed primarily to the earnings contribution from the rental of office properties – this segment saw a 15% increase in revenues compared with the prior-year period. Following the posting of property impairments and currency losses, this led to a loss of €21.7 million for the first half of 2020, including a result of minus €3.0 million for the second quarter of 2020.

The market for flexible office space has been experiencing dynamic growth for several years. The COVID-19 pandemic has changed a lot of things about our daily lives, also in the office sector, and thus has significantly affected tenant preferences. Many tenants have made or are considering a decision to move some of their branches or even headquarters to flexible spaces. The main reasons for the growing interest in flex spaces include the possibility of enlarging or reducing the space, no long-term commitments, and no need for investment outlays, according to an analysis by experts from Mindspace, a global operator of flexible workspaces.

Immofinanz started the 2020 financial year with strong operational performance, but the development of business in the second quarter was negatively influenced by the COVID-19 pandemic. Rental income rose by 10.4% to €145.5 million due to the expansion of the portfolio through acquisitions and completions, but a crisis-related increase in receivables write-offs led to substantially higher property expenses.