Last year, international law firm Kinstellar played a vital part in closing two of the largest transactions on the office market in Romania: Floreasca Park, sold to Resolution Property (member of the Fosun Group) and Zeus Capital for more than €100 million and two Class A office buildings owned by Skanska sold to S Immo for €97 million. This was in addition to a series of deals in logistics and other asset classes. Property Forum talked to Victor Constantinescu, Managing Partner of the Bucharest office and Co-Head of the firm-wide Real Estate Practice, about how the first year of the pandemic was and what’s next.

Immofinanz has sold four office buildings in Warsaw to the Indotek Group, a Hungarian real estate firm. The buildings have a total rental space of approximately 45,300 sqm. The sales price amounts to €72.5 million.

UK investor Aberdeen Standard European Logistics Income PLC (ASLI) has signed an agreement for the acquisition of the Panattoni Lodz City VIII logistics park for €28 million.

pbb Deutsche Pfandbriefbank has provided an investment loan facility totalling €115 million to a fund managed by the Real Estate Group of Ares Management Corporation (Ares), which will utilise the proceeds for the acquisition financing of a logistics portfolio in Poland. pbb acted as arranger and sole lender under the facility.

Immofinanz announced on 29 January 2021 that RPR Privatstiftung has concluded a share purchase agreement on the sale of its share in RPPK Immo GmbH with Revenite Austria S.à.r.l. on 29 January 2021 and that this share purchase agreement is subject to the condition precedent that Eurovea Services s.r.o., which holds the second share in RPPK Immo GmbH in addition to RPR Privatstiftung, consents to the transfer by 31 March 2021 at the latest.

Romania has development potential for retail projects in smaller cities, and five counties with a combined population of 1.8 million inhabitants are not covered by any modern retail schemes, according to a report by real estate consultancy Cushman & Wakefield Echinox. 

German real estate investor Peakside Capital has completed the disposal of the last properties in its portfolio of 72 small retail assets in the Czech Republic.

Henley Investments, a private equity real estate firm based in the UK, has purchased its first Polish shopping centre, Galeria Pestka in Poznań, from a global investment manager.

The real estate industry has been sitting on valuable data for long, now it’s taking advantage of it. Alexander Rafajlovič, who joined CA Immo as Head of Market Research & Data Analytics in January, talked to Property Forum about the importance of data on the real estate investment market and shared his expectations for the year ahead.

B+N Referencia Zrt. has acquired ISS Group’s interests in Central and Eastern Europe. With an internationally significant acquisition, the Hungarian group became one of the most notable facility management providers in the region. The transaction concerns the main subsidiaries of the ISS Group in the Czech Republic, Slovakia, Romania, and Hungary.