CPI Property Group and a subsidiary of S Immo (CEE Immobilien GmbH) signed an agreement concerning the acquisition of 17,543,937 Immofinanz shares, corresponding to a participation of approx. 12.69% of the total nominal share capital of Immofinanz. The agreement also covers the acquisition of additional shares eventually tendered into the voluntary partial tender offer for shares of Immofinanz published by CEE Immobilien GmbH on 23 December 2021. The purchase price per share amounts to €23.00 cum dividend. Following the transaction, CPIPG has undertaken to improve its takeover offer price (from the previous €22.70) in accordance with the Austrian Takeover Act accordingly.

Robert Snincak, Head of Investment Operations CEE and Krystian Pachowka, Head of Logistics Asset Management CEE at CBRE Investment Management talked to Property Forum about the current investment trends in CEE countries, the rise of the warehouse and PRS markets in Poland and the recent changes in financing conditions.

In 2021, CA Immo Poland signed 29 lease agreements for a total of 36,200 sqm office space in Warsaw. The company also finalized the sale of the Wspólna 47-49 office building.

DL Invest Group has leased nearly 80,000 sqm of commercial spaces in 2021. It embraces activities in the office, retail and industrial sectors. The value of assets that belong to the company increased to over PLN 1.5 billion.

Poland’s investment market continued to attract significant investment activity in 2021 with an annual transaction volume of €5.9 billion. A record number (166) of transactions were closed by 80 active investors, according to Avison Young’s annual investment market summary. The company expects that 2022 will see the great comeback of the office sector through increased interest in core and core+ assets in both Warsaw and regional cities.

Wing has acquired Airport City Logistics Park near Budapest’s Liszt Ferenc International Airport, comprising approx. 44,000 sqm of modern warehouse buildings and 8,000 sqm of office area. Through the transaction concluded with CPI Property Group, Wing further strengthens its position in the Budapest industrial and logistics market. The transaction was carried out at a record low, 5.6% yield. 

According to Savills, the last quarter of 2021 was the busiest of the year for commercial real estate investment, with 30 closed transactions and a total volume exceeding €628 million. This was the highest quarterly volume of real estate investment since Q1 2020 and a 23% improvement on Q4 2020 volume.

Investors brushed aside concerns about the impact of the omicron variant to make the final quarter one of the biggest of 2021 for European property, with major markets posting near-record trading volumes, according to the latest capital markets snapshot for Europe, the Middle East and Africa (EMEA) released by Colliers.

Cain International, the privately held investment firm operating in the United States and Europe, and its local development partner, White Star Real Estate, have secured a €36 million financing facility from PKO BP, for the delivery of The Park Kraków office complex.

CA Immo has signed and closed the sale of the R70 office building in Budapest. The sale of the property, which was completed in 2002 and comprises 19,200 sqm of gross leasable area (GLA), has closed in line with the book value as of Q2 2021. The buyer was local construction company Épkar Zrt. which used funds obtained through the National Bank of Hungary's Funding for Growth Scheme.