ARTICLES LABELLED WITH TAG investment

Prologis announced the acquisition of 2.4 hectares in the highly sought-after Prague logistics market. The site is next to the D1 highway, the Czech Republic’s main arterial route.

Cushman & Wakefield in collaboration with Hodges Ward & Elliott represented Mornington Capital, an international hotel investment fund manager in the sale of Prague’s iconic Don Giovanni Hotel in Prague. The deal was signed on 20 February with the transaction price undisclosed. The new owner is a leading family-owned fund from Scandinavia. Czech-based Czech Inn Hotels remains the hotel’s operator.

Tesco has sold its department store in central Prague to Amadeus Real. Formerly named Máj, it is currently known as My. The new owner is planning a general reconstruction of the building which is planned to start in H2 2020 and last two years, local media reports.

Europe’s commercial property market is enjoying a favourable operating environment supporting its credit quality but risks are increasing. Rising interest rates and slowing economic growth could dampen future investor demand, according to Moody’s latest report.

Decreasing supply of attractive land parcels combined with growing prices are directing investors' attention to areas with objects that require either demolition or revitalization. Multi-functional projects are still gaining popularity in Poland, according to JLL’s report.

Office building transactions on the Romanian market reached the highest level of the last decade in 2018, as 20 assets with a total GLA of 220,000 square meters and a value of more than €500 million were transacted only in Bucharest, according to Cushman & Wakefield Echinox.

HB Reavis marked its ambitious plans for growth in Germany by announcing two major acquisitions in Berlin and Dresden totalling 3.5 hectares. Plans will see the introduction of HB Reavis’ co-working initiative as well as designs aimed at and catering to a range of businesses, from start-ups and scale-ups to larger corporations, all while fostering well-being and productivity.

AFI Europe Romania has signed a non-binding letter of intent with Plaza Centers for the acquisition of the majority stake (75%) of the Casa Radio, located in the centre of Bucharest. The value of the offer amounts to €60 million.

Microsoft and Skanska’s office unit in Poland have signed an agreement on strategic cooperation in the area of PropTech. It provides for expert knowledge exchange and the use of advanced data analytics solutions, AI mechanisms and cloud computing to create breakthrough innovations for the office real estate sector. The partners will also work together to develop presentations of Skanska's development projects using mixed reality and Microsoft HoloLens glasses and the analytical part of the Connected by Skanska system.

Avison Young, headquartered in Toronto, Canada, a global commercial real estate services firm, enters the Polish market with the acquisition of UK-based GVA advisory company.