ARTICLES LABELLED WITH TAG investment

Immofinanz AG signed agreements for the purchase of 19,499,437 bearer shares in S Immo AG, which represent an investment of roughly 29.14%, on 18 April 2018. Following the receipt of the relevant anti-trust approvals, the closing of the transaction took place on 21 September 2018 and the acquired S IMMO shares were formally transferred to Immofinanz.

With investor appetite for newly-built offices remaining competitive there is also a continuous demand coming from investors seeking older, yet sustainably rentable offices with high occupancy – these refurbished offices remain attractive for the active funds in Budapest. This time CBRE has transacted Bluehouse Capital’s Margit Palace sale to Adventum TRIUM Real Estate Fund.

Real estate professionals surveyed by the RICS in Q2 2018 now believe that the Czech investment market has reached the peak of the current cycle while the Hungarian and Polish markets are also close to peaking. Nevertheless, market sentiment is still positive on both the occupier and investment market in all CEE countries monitored by the RICS Commercial Property Monitor, including Croatia and Romania.

At the end of September or in early October, the Accolade Fund will exceed the symbolic mark 500,000 sqm of fully occupied rental space for light industry, e-commerce and logistics. This will move the Fund closer to another magical mark: CZK 10 billion worth of properties under its management. If all pending transactions are taken into account, the Fund’s rental property portfolio will increase to 515,000 sqm, worth in total €351.5 million, which is more than CZK 9 billion.

CIT Group, a Romanian retailer specialised in IT equipment, has acquired the Nokia building in Timișoara for €6.2 million which marks the company’s entry into the real estate business. The property will be managed by CIT’s Imobiliare division.

NEPI Rockcastle announced the acquisition of 100% of Mammut 2 and 81% of Mammut 1, which jointly form the Mammut shopping centre in Budapest. The aggregate net purchase price for the acquisition was €254 million, according to the company's statement.

The CEE investment market continues to perform well in 2018 but investors are becoming increasingly cautious, driven by rising interest rates and the changing attractiveness of certain asset classes. Mike Atwell, Head of Capital Markets Czech Republic and Lead Director CEE at JLL talked to Property Forum about investor sentiment, financing and transparency.

Hines, on behalf of the Hines Russia & Poland Fund (HRPF), has today announced the sale of the Proximo II office building for CS nemovitostní fond (CSNF), managed by REICO investment company of Česká spořitelna (REICO IS ČS).

South African real estate investment trust Hyprop Investments has acquired a hypermarket adjacent to its shopping centre The Mall in the Bulgarian capital for €23 million back in June.

After the record-breaking year of 2017, the student housing asset class still enjoys development and increased interest from investors. Michal Malecka, Head of Business Development at StudentMarketing talked to Property Forum about the growing popularity of the student housing asset class in Europe.