The European Bank for Reconstruction and Development (EBRD) is supporting the first special opportunities-focused real estate fund in the Baltic region that will back energy efficient projects.

With the first interest rate cuts in the Eurozone in a long time, optimism has also returned to the banking sector, as the participants of the banker panel at the CEE Property Financing Update 2024 conference unanimously concluded. However, it is limited by factors such as the uncertain political situation in the United States or the EU taxonomy, through which many older buildings may become troubled assets for their owners. The event, held at the end of September in Warsaw, was organised by Property Forum and law firm CMS.

Bogdan Papandopol, Partner and Head of Dentons’ Global Real Estate Group in Bucharest, talked to Property Forum about the growing investments in green property projects and the reduction of lease terms in the commercial sector. 

Hungarian property investor Indotek Group has announced the appointment of Philip Wood as Head of International Transactions & Asset Management, tasked with overseeing the group’s international expansion strategy, focusing on key markets in Central, Southern, and Western Europe.

Property group NEPI Rockcastle has priced a green €500 million unsecured long 7-year Eurobond maturing in January 2032 through its subsidiary NE Property. 

Immofinanz Group is acquiring a further 28,241,094 shares in S Immo from its core shareholder CPI Property Group, thus increasing its stake in S Immo to around 89%.

Panattoni announced the launch of a pan-European fund that will invest in sustainable, income-producing logistics properties. The Panattoni Income Fund is domiciled in Luxembourg and has an open-ended structure. It is aiming to raise €300 million of equity by 2026 and acquire €600 million of assets, developed and managed by Panattoni. Panattoni’s owners and management team will be co-investing.

Attila Gorbai, General Manager of Tennant Company in CEE, spoke with Property Forum about the portfolio expansion of Tennant’s robotic cleaning machines following their integration into Tennant Company and the company’s vision to expand their role in the floor care market across the CEE.

Over H1 2024, the office stock in the CEE region grew by 213,000 sqm, with the largest increase recorded in Budapest (78,300 sqm). The majority of the markets still experience subdued construction activity as vacancy rates remain higher than 10%. The development pipeline is largely dependent on pre-lease agreements, with a limited number of speculative starts. The only exception is Prague, where the under-construction volumes nearly doubled as compared to the end of 2023. The overall vacancy rate in the CEE capitals recorded a minimal increase over H1 2024 and stood at 11.6%, against 11.5% in Q4 2023. Muted construction activity will push the overall vacancy rate downwards in the mid-term. A decrease in availability will be more prominent in the prime market segment as occupiers follow „fly to quality” trend. JLL experts, in cooperation with iO Partners, present an analysis of the trends observed in the office market in Poland against the background of countries in the CEE region.

Germany's Garbe group, specialised in industrial investment, is looking to start operations in Romania and develop its first local projects.