A neglected plot of land in Prague 5 has now been newly acquired for billions of crowns by Austrian developer UBM. It plans to build 150 flats there. It wants to start building next year, but the project is still in the planning process. The developer has not disclosed the purchase price, the seller or the details of the construction, writes E15.cz. 

Wood & Company has increased its stake in the Bratislava shopping centre Aupark by 27%. Currently, Wood & Company and TAM own 87% of the asset. The stable annual performance of over 11% is now confirmed by Wood & Company's real estate funds.

Immofinanz has signed a letter of intent for the sale of its Hungarian office properties to S Immo. This transaction is taking place through close cooperation within the CPI Property Group to realise synergy effects and can be used to extend Immofinanz’s myhive office solutions to the entire group. The Hungarian portfolio includes six buildings in Budapest with roughly 124,000 sqm of rentable space. The closing of the transaction could take place before the end of 2022.

One of the most important questions among the participants of CEE Property Forum 2022 in Vienna was “Is it still safe to invest in real estate located in Central and Eastern Europe?”. The answer is positive. It is still safe, though not everywhere.

Hungarian developer and investor Infogroup has bought a 50% share in the ibis Styles Budapest Citywest Hotel.

Investments in the private rented sector (PRS) and industrial projects continue to grow in Central and Eastern Europe despite economic and geopolitical challenges, concluded speakers during the investment strategies panel at CEE Property Forum 2022 in Vienna.

Generali Real Estate has completed the acquisition of MDC2 Park Kraków South, a logistics development project in Poland, located in Skawina, Kraków area, on behalf of the pan-European Generali Real Estate Logistics Fund managed by Generali Real Estate S.p.A Società di gestione del risparmio. The development will be carried out in collaboration with MDC2, a warehouse and logistics space developer operating on the Polish market. The price has not been disclosed.

Susanne Steinböck, Group Head of Corporate Communications and Sustainability at CA Immo talked to Property Forum about the current state of affairs in the European office market, its attractiveness and energy-related challenges it has to face in the nearest future.

As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.

Panattoni has sold a BTS facility developed in Stargard, Northwestern Poland that will be used by TEDi. The 87,000 sqm building was purchased for €53 million by a German investor, based in Dortmund.