Top Polish developers believe that in 2021 the real estate market will normalize and the vaccine will help it shake off the pandemic effects. They discussed investment markets trends at the online edition of Property Investment Forum 2020, organised by Portfolio in partnership with Property Forum.

On 3 December 2020, GTC’s subsidiary, GTC Real Estate Development Hungary Zrt., issued 792 pieces of senior unsecured bonds, with the nominal value of HUF 50 million each and the total value of HUF 39.6 billion (approximately €110 million). The bonds will be fully guaranteed by GTC S.A.

Real estate services company Apleona, headquartered near Frankfurt am Main, has been acquired by French private-equity company PAI Partners (PAI). The seller is Swedish financial investor EQT. The transaction is subject to approval from the antitrust and regulatory approval.

The Q3 2020 property investment volume for Romania is estimated at €408 million, a value approximately 68% higher than the one registered in the same period in 2019. Although the road ahead is marked by uncertainty, considering the persistence of the COVID-19 pandemic and the restrictions associated with it, there is a consistent pipeline of deals which could be closed soon and throughout 2021. JLL has published its Bucharest City Report for Q3 2020. The report provides a detailed analysis of specific real estate markets in Bucharest: office, retail, industrial and residential.

Cordia International Zrt. has announced a public tender offer to acquire the remaining approximately 7,08% of shares in Polnord SA. The goal is to increase Cordia’s stake in Polnord SA to 100% of outstanding shares.

Current owner Unibail-Rodamco-Westfield is reportedly planning to sell the Aupark shopping centre in Bratislava and is currently in the final talks with Czech investment group Wood & Company, according to index.sme.sk. The potential new owner is allegedly interested in purchasing the asset for around €500 million.

Ott Ventures, the private equity arm and fund management platform run by Orco Property Group and MaMaison Hotels & Residences founder Ott Properties, has announced the launch of its first hotel fund, Velvet. The pan-European investment vehicle is targeting total assets under management of €500 million with a planned LTV of 50%. It will invest across Europe with a focus on the main Central European markets of Poland, Czech Republic and Hungary as well as Germany and Austria.

Immofinanz has sold another 3 ha plot of the former IUS industrial platform in Brașov, to an undisclosed real estate developer. The price is estimated at around €7 million, according to economica.net.

European Logistics Investment BV (ELI) has acquired two warehouse facilities located in Wrocław. ELI, together with its partner Panattoni, plans to further develop the site in order to deliver City Logistics Wrocław North totalling 45,000 sqm of logistics space.

Generali Real Estate S.p.A. has completed the acquisition of International Business Centre (IBC), an office building in Prague, from Mint Investments, on behalf of the pan-European “Generali Real Estate Core Plus” fund managed by Generali Real Estate S.p.A Società di gestione del risparmio.