In Q3 2017 the largest increase in house prices was registered in the Czech Republic. According to fresh data published by Eurostat, Hungary also saw double-digit growth, while prices rose by 5-10% in
Bulgaria, Slovenia, Slovakia and Romania
Blackstone Property Partners Europe Lower Fund 2 plans to acquire 24 logistics centres from Goodman. The buyer intends to buy assets and shares in several companies which own properties in Poland, France and Germany.
Patrizia Immobilien AG has acquired Rockspring Property Investment Managers LLP, providing it with a London-based fund management hub with a focus on discretionary capital for global clients. The acquisition further strengthens Patrizia’s global investor base and expands the Group’s network of pan-European offices, resources and capabilities.
A huge increase in urban logistics property space is required across key centers in Europe in the next few years to meet the exponential growth of e-commerce and the resultant need for last mile delivery in cities, according to a new research report from Cushman & Wakefield.
Noerr has advised IDI Gazeley on the sale of its European division. In October Global Logistic Properties (GLP), Asia’s biggest warehouse operator, entered into a definitive agreement to acquire Gazeley, a premier developer, owner and operator of modern logistics facilities in Europe for approximately €2.4 billion.
Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, while New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay retain their first and second place rankings, according to Cushman & Wakefield. Prague’s Na Příkopě Street has improved its position from last year’s 23rd to the current 22nd in a chart of the 68 most expensive high streets.
Patrizia Immobilien AG has acquired Triuva Kapitalverwaltungsgesellschaft mbH, significantly expanding its business in Germany and Europe. Both parties agreed to not disclose the purchase price.
The markets of Budapest, Bucharest, and Warsaw, in addition to Milan and Oslo, offer the most amenable conditions for both lenders and borrowers, according CBRE’s research.
Total real estate investment in Europe reached €74 billion in Q2 2017, representing a 25% increase on the same period last year, according to CBRE. Central Europe as a region proves to be more attractive to international investors than last year with Hungary accounting 15% of the overall investment volume.
Resilient European economies, the continued popularity of Mediterranean leisure destinations and Europe’s importance for business travellers, should drive hotel occupancy and revenues in 2017, according to the latest PwC European Cities Hotel Forecast. Most European cities, including Budapest and Prague, are expected to see additional revenue growth in 2018.
Ekonip Logistics, a company specializing in logistics services for hazardous materials, has decided to lease 9,200 sqm of warehouse and office space at the Logicor logistics park in Mszczonów. AXI IMMO represented the tenant in the transaction.
Salzgitter Mannesmann Acélkereskedelmi Kft. has signed another long-term lease agreement in the ZenGarden office building in Budapest. The redesigned workspace will take up over 500 sqm in the building.
The New Balance brand has expanded the space of its showroom in Galeria Warmińska in Olsztyn, Poland. The American brand's shop currently occupies an area of almost 200 sqm.
New appointments
DLA Piper’s Prague office has appointed a Corporate partner with a focus on technology Tomáš Ščerba, Real Estate partner Michal Hink and Banking, Finance and Restructuring counsel Leo Javorek.
Following Magdalena Sekuła's resignation from the Supervisory Board of LPP, and the reduction of the number of Supervisory Board members below the statutory minimum, the Supervisory Board appointed Jagoda Piechocka as a Supervisory Board member.
Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
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