Peakside Capital has completed the acquisition of Argo Alpha, a Prague office building comprising 12,600 sqm of GLA. The transaction price has not been disclosed.
2016 was a record-breaking year for the Polish investment market and had the best investment performance since the financial crisis in 2009. With over €4.5 billion transacted in 2016, Poland remains the stand out performer across the CEE region, CBRE reports in its latest in research.
Investors spent €1.54 billion in 2016 in the Hungarian commercial real estate market surpassing the 2015 level by 107%. Last year both office properties and retail properties were in request, thus CBRE is expecting a similar or even higher turnover for 2017.
Total real estate investment volume in the Czech Republic exceeded €3.7 billion in 2016, CBRE revealed. The most notable transactions in 2016 were the sale of P3 Logistics Parks, the Park and Florentinum, with 67 transactions being mediated on the Czech market in total.
The property management and (property and SPV) accounting of Váci Greens’ Building C, acquired by ZFP Investments, acting on behalf of the ZFP realitní fond, a Czech real estate fund entering the Hungarian commercial real estate market, is now performed by CBRE.
CBRE Global Investors has acquired, on behalf of a separate account client, Prague’s Letňany Shopping Centre from Tesco. The value of the transaction has not been disclosed.
TriGranit appointed the Hungarian office of CBRE with the exclusive leasing of its latest development in Budapest. The Millennium Gardens office building is being constructed alongside the Palace of Arts and the National Theatre, on the Danube side of Soroksári Road. It will offer 37,000 sqm of leasable space and it is expected to be completed by 2019.
The Budapest office of CBRE has been appointed property manager and leasing agent of M7 Real Estate’s new Hungarian property portfolio. M7 Real Estate has acquired two retail centres, the Atom Center in Paks and Csillagvár in Budapest, and the Acélforma industrial hall in Dunaharaszti. The British investor has commissioned CBRE with the management and leasing of almost 22,000 sqm of GLA.
Strong demand across all investment sectors is expected to continue into 2017 in the Czech Republic and the €3 billion boundary could be exceeded once again. Retail is likely to become the most popular asset class next year, followed by offices and industrial. CBRE has released the Czech Republic Real Estate Market Outlook 2017.
CBRE has published its inaugural Understanding European Technology Clusters report, highlighting the vibrancy and rapid growth of Europe’s tech sector. The report analyses the characteristics of tech clusters and explores future opportunities among high-performing, and emerging, tech cities across Europe.
Warsaw's Renova shopping mall, located in Targówek and owned by Napollo, has just opened the first outlet of the Mother Earth brand in Warsaw. The outlet will be located on the ground floor of the mall.
Gdańsk's Galeria Zaspa has gained a new tenant. Clothing brand Sinsay has taken nearly 600 sqm of space in the facility.
MediaExpert has joined the ranks of tenants in the shopping centre in Bełchatów - Galeria Bawełnianka. The electro market will occupy an area of over 600 sqm.
New appointments
Oscar Kazanelson - the current Chairman of the Supervisory Board of ROBYG - has been appointed Chairman of the Supervisory Board of Vantage Development. This is related to the decision to build synergies within the TAG Immobilien Group.
Piotr Chemperek has joined the experts of the Office Space Department at Colliers Poland, taking the position of Associate Director. He will be responsible for advising companies in the medical sector.
Magda Twarowska joins Logicenters Poland, the logistics arm of NREP, as Head of Commercial. She will be responsible for managing tenant relations and leasing activities, covering the standing assets and projects held by NREP NSF IV portfolio company, BIK S.A.
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