City Park Hostivař in Prague 10 has been acquired by a Western European investment company, represented by BNP Paribas Real Estate. The name of the buyer and the purchase price has not been disclosed.

2020 has been dominated on the commercial real estate market in Poland by the pandemic, whose impact varied from sector to sector though. The pandemic has, however, given rise to or accelerated a number of developments, some of which are likely to stay with us for longer. Real estate advisory firm Savills explores future trends in its preliminary summary of 2020 and its outlook for the next 12 months.

The overall volume of transactions in the commercial property sector in the Czech Republic should reach €1.2 billion this year. This means a 63% decrease compared with last year, which in turn was more successful than average. Considering the complications that the coronavirus pandemic caused to the economy, such a result is quite satisfactory and attests to the lasting investor appetite. In addition, an increase to almost twice this year’s volume can be expected next year. The fact that real estate prices remain stable is also positive.

S Immo AG has purchased two properties of the Campus 6 business park in Bucharest from developer Skanska with a total investment volume of €97 million. The two buildings have a total leasable area of nearly 38,000 square metres and both are fully let. Key tenants are Microsoft and Société Générale.

Cromwell EREIT Management Pte. Ltd., the manager of Cromwell European Real Estate Investment Trust announced that it will be acquiring a portfolio comprising 11 logistics and light industrial properties in the Czech Republic and Slovakia for an aggregate purchase price of €113.2 million, on a net operating income yield of 6.7%. The seller is Arete Invest, acting on behalf of its sub-fund Arete Invest Podfond CEE II

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has successfully launched the first property fund that sets out to be compliant with the 2015 Paris Agreement, a landmark agreement that brought nations together to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low carbon future. 

Accolade Industrial Fund has secured an €85 million refinancing loan from Česká spořitelna for its Czech industrial portfolio. At the same time, the Fund responds to growing interest from qualified investors and following its debut in the domestic Czech market, it’s opening a distribution network in neighbouring Slovakia, together with Slovenská sporiteľňa.

Cushman & Wakefield Echinox advised Mitiska REIM to sell a property in Braşov to French DIY retailer Leroy Merlin, which continues its expansion plans on the local market.

Partners Group, the global private markets investment manager, has this quarter agreed to invest in two real estate portfolios in Europe on behalf of its clients, comprising eleven residential properties in Italy and eleven office assets in Poland. The properties have a gross asset value of €500 million and a combined leasable area of 170,000 sqm.

Evax Holding GmbH, a company owned by Peter Korbačka’s Eurovea Services, has purchased 3,836,988 shares of S Immo AG, corresponding to a 5.21% stake, from Etamin GmbH & Co KG. The transaction, which took place on 12 November, has made the Slovak businessman the third largest shareholder in the Austrian company.