Yareal has signed a contract to sell the Nowogrodzka Square office building to a French fund managed by Amundi Real Estate. The transaction includes a Class A office building covering an area of 11,000 square meters, as well as an underground garage with 148 parking spaces. Nowogrodzka Square was opened in the fall of 2018.

The first three months of the year were closed with promising figures on the Romanian property market. CBRE published its Q1 2020 overview of the main commercial real estate sectors.

Penta Real Estate has sold the D48 office building in Warsaw’s Służewiec district to fellow Slovak company IAD Investments for an undisclosed sum.

At the start of the year, investment into Polish commercial real estate was dominated by logistics. Warehouse assets worth €1.46 billion changed hands in Q1 2020, which almost equals the annual total for 2019 of €1.48 billion, according to a report by Renata Osiecka, AXI IMMO’s Managing Partner.

Investors still show interest for real estate acquisitions Romania, despite the COVID-19 pandemic, according to a survey conducted by Colliers International among more than 60 real estate companies.

According to a recent report published by Cresa, portfolio transactions are on the rise on the Polish retail market. Two of last year’s three largest commercial real estate transactions were retail portfolio deals: the €600 million acquisition of the shopping centre portfolio from Cromwell Polish Retail Fund by Cromwell Property Group and the disposal of Atrium Koszalin and Atrium Felicity to ECE Group for €298 million.

New Work, an independent flexible office operator in Central and Eastern Europe, has secured new funding to accelerate the implementation of their 360° Workspace Solution strategy.

International investor Aurec Capital has expanded its portfolio in the private rented sector (PRS) in Poland. The transaction of the Puławska 186 project completed between Aurec Capital Poland and Matexi Polska is worth over €22 million (PLN 100 million). JLL advised the investor on the purchase of the property.

With a total volume of approximately €120 million in the first quarter, the Romanian investment market had a similar start compared with the same period in 2019, when the volume of transactions was €117.5 million. An optimistic scenario puts the total volume of investments for 2020 at €750 million, while a pessimistic one somewhere at €500 million. Crosspoint Real Estate has issued its latest market report on the Romanian real estate market’s performance.

The preliminary investment volumes for the CEE region for Q1 2020 have reached ca. €3.7 billion, despite the onset of COVID-19 in CEE at the beginning of March. This volume was significantly boosted by the ca. €1.3 billion acquisition of the Residomo portfolio in the Czech Republic by Heimstaden, however, it still represents a y-o-y growth of 68% over Q1 2019 (ca. €2.2 billion) and 28% over Q1 2018 (ca. €2.9 billion).