Fortenova Group has signed a contract with Agram Group for the sale of the  Cibona Business Tower in Zagreb. The asset comprises office premises on 16 floors as well as garage areas amounting to 6,700 square meters overall. In accordance with the contract, the pruchase price is not being disclosed.

According to Savills, the e-commerce boom is continuing to drive demand for industrial and logistics assets across Europe, as new records were set for both levels of investment and leasing activity in 2021. In Poland, take-up in 2021 reached an all-time high and industrial assets accounted for over a half of the total investment volume.

KGAL has acquired Charles Square Center, a multi-tenant office property in downtown Prague, from Commerz Real, the company announced today.

Driven by large-scale mergers and acquisitions, European multifamily investment volumes in the 12 countries analysed reached approximately €92.3 billion in 2021, a 79% increase year-on-year and a 120% increase on the past five-year average, Savills announces. 

Maxim Shkolnick, General Partner at CEE-based retail investor Focus Estate Fund talked to Property Forum about recent acquisitions in Poland, the Covid-driven evolution of the retail market and the astonishing popularity of convenience centres among investment funds.

Red Group has sold most of its residential project in Prague 5 to development company Crestyl. It retained only one apartment building out of five buildings. The project should include a total of 200 housing units, ThePrime reports. The value of the acquisition and other plans of the new owner are not yet known. 

Lincoln Property Company (LPC), an established investor, developer, and provider of management services, active in the US and European commercial real estate sector, has resumed its operations in Poland. Damian Grzywacz was appointed Managing Director of Lincoln Property Company in Poland following LPC’s acquisition of The Form in Warsaw last year, and has been tasked with identifying further investment projects in the region.

S IMMO has recently made major commitments towards building a fully ESG-compliant office portfolio in Budapest with a large acquisition and an ambitious green energy initiative. Géza Barabas, Country Manager of S IMMO Hungary talked to Property Forum about upcoming investment plans and the company’s ESG strategy for the Hungarian market.

LogStar, the industrial division of local investor Biggeorge Property, has acquired the WestGate Business Park, an 18,000 sqm industrial facility, from Logicor. The seller was represented by CBRE. The price of the transaction was not disclosed.

Record levels of investment poured into European residential assets last year, with spending nearly equal to that of office investment, Knight Frank reports. Just shy of €100 billion of assets were traded in the European residential investment sector in 2021, up 60% on 2020, analysis of data from RCA shows.