ARTICLES LABELLED WITH TAG investment

MAS Real Estate has entered into an agreement with PKM Developments, a joint venture with its peer Prime Kapital, to buy a property portfolio consisting of nine shopping value centres in Romania for €112.97 million. The centres are being held by PKM Developments through three subsidiaries - PK Black, PK Indigo and PK Red.

In 2018, retail investment volume reached a record high of €2.5 billion in Poland. Retail was the second most sought-after sector after offices, accounting for 34% of all investment activity in Poland. Paweł Nowakowski, Head of Capital Markets at Cresa Poland, predicts in the latest “Retail Occupier Economics” report that this year may be equally good for Poland.

Aberdeen Standard European Logistics Income PLC has acquired a logistics warehouse in Kraków from global real estate developers Panattoni Development Co and Marvipol SA.

AEW has acquired two historic, mixed-use properties on Andrássy Avenue in Budapest, on behalf of a German separate account.

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.