ARTICLES LABELLED WITH TAG investment

With the first interest rate cuts in the Eurozone in a long time, optimism has also returned to the banking sector, as the participants of the banker panel at the CEE Property Financing Update 2024 conference unanimously concluded. However, it is limited by factors such as the uncertain political situation in the United States or the EU taxonomy, through which many older buildings may become troubled assets for their owners. The event, held at the end of September in Warsaw, was organised by Property Forum and law firm CMS.

Hungarian developer Biggeorge Property has extended its existing portfolio with an international residential property development division (Biggeorge Homes International) in Q4 2024, and brought aboard three new leaders to successfully implement its European expansion plans. Founder and CEO Tibor Nagygyörgy welcomes János Martin CEO, Zinaida Onczay-Vojnár International Business Development Director and Gábor Bakonyi-Kiss International Investment Manager in the group’s leadership. 

Gestor, a Hungarian private real estate investment and asset management company has acquired the Portal Mediterraneo retail park in Spain from Mitiska REIM. Savills acted as an intermediary in the successful transaction. 

Galardia Shopping Center in Starachowice (Central Poland), developed from a greenfield by Stage Capital and Sierra Balmain, has a new owner – Future Estate. The agreement finalizing the transaction was signed on September 26, 2024. Avison Young's investment team represented the seller as the exclusive sales agent. The price has not been disclosed. 

Over the last two and a half decades, a lot has changed in the Hungarian real estate market. Spectacular investments have shaped the image of the capital, while the modern real estate market as we know it today has gradually emerged. The biggest players were already present in the late 90s, including WING, which is 25 years old this year. During this time, the group has undergone dynamic changes, reflected not only in its developments in Budapest but also in its presence on international markets. We talked to Noah Steinberg, CEO of WING Group and Chairman of the Supervisory Boards of Echo Investment in Poland and Bauwert in Germany, about the main challenges of the past 25 years, the strategy that has been most effective in addressing them and the plans the group has for the next 25 years.

NEPI Rockcastle has acquired the 100,000 sqm Magnolia Park shopping centre in Wroclaw, Poland, from Union Investment in an off-market transaction. The sale price amounts to €373 million. Union Investment acquired Magnolia Park in 2017 for the portfolio of the open-ended real estate fund UniImmo: Europa. 

Czech-based investment and real estate group Arete has announced the acquisition of a major logistics park in western Poland. The seller was a joint venture of Panattoni Europe and Kajima Properties. The price has not been disclosed. With this move, Arete expands its operations beyond the Czech Republic and Slovakia, entering the Polish market. This acquisition strengthens the portfolio of the Arete Industrial fund, increasing its total leasable area by 25% and raising the value of assets under management to over €300 million.

In 6-12 months, investors will return to the real estate market in Poland. The desirable assets will be data centres and products of the living sector, including PRS and PBSA - these were the conclusions reached by the participants of the panel on collaborative and alternative investment strategies at this week’s CEE Property Financing Update 2024 conference in Warsaw. The event was organised by Property Forum and hosted by law firm CMS.

Homing Properties will invest €35 million in the construction of 140 villas in Pipera, near Bucharest. 

Immofinanz Group is acquiring a further 28,241,094 shares in S Immo from its core shareholder CPI Property Group, thus increasing its stake in S Immo to around 89%.