CBRE Global Investors have been one of the most active buyers on the CEE investment market recently. Having closed the off-market acquisition of a logistics/light industrial portfolio in the Czech Republic, Robert Snincak, Head of Investment Operations CEE talked to Property Forum about CBRE Global Investors’ investment strategy for the region.

Accelerate Property Fund, a JSE-listed real estate investment trust, has announced it will acquire a portfolio of five single-tenanted, long-lease, light industrial properties in Poland for €41.9 million from Panattoni Europe.

Starwood Capital Group has entered, through a controlled affiliate, into the sale and management back transaction to acquire the Sofitel Budapest Chain Bridge Hotel from Orbis Hotel Group. The hotel is being acquired for €75 million.

LaSalle Investment Management has acquired Palác Andel in Prague from Aberdeen Asset Management Deutschland, the German subsidiary of Aberdeen Standard Investments. This mixed-use scheme in the Prague district of Smíchov–Andel is the first Czech Republic asset for LaSalle E-REGI fund. The total purchase price reached €57.8 million. Cushman & Wakefield and Clifford Chance represented the seller. White & Case, JLL, TPA represented the buyer.

There is an ongoing mentality shift in the property industry which not just about technology, proptech guru James Dearsley revealed at the largest event on the Hungarian property market. Over 700 participants and nearly 100 speakers gathered at the 13th Portfolio Property Investment Forum in Budapest which focused on the future of real estate.

Aberdeen Asset Management has sold the King Cross shopping centre in Zagreb to SES Spar European Shopping Centers. The transaction price has not been disclosed.

NEPI Rockcastle’s wholly-owned subsidiary, NEPC has priced a €500 million unsecured 7 year Eurobond maturing on 23 November 2024, carrying a 1.75% fixed coupon, with an issue price of 99.051%. At this level, the book was oversubscribed. S&P and Fitch assigned the Bond a BBB rating, in line with the corporate rating.

OTP Property Investment Fund has acquired the BSR Center office building in Budapest from a fund managed by GLL Real Estate Partners.

The outlook for Central and Eastern European markets is still positive according to the RICS Commercial Property Monitor. Results for Q3 2017 show that both occupier and investment demand are still on the rise across the region. The peak of the current cycle is, however, undoubtedly getting closer.

Noerr has advised IDI Gazeley on the sale of its European division. In October Global Logistic Properties (GLP), Asia’s biggest warehouse operator, entered into a definitive agreement to acquire Gazeley, a premier developer, owner and operator of modern logistics facilities in Europe for approximately €2.4 billion.