Adventum Group’s largest deal to date – a portfolio of 18 retail parks anchored by Tesco across Hungary and the Czech Republic with a GLA of 360,000 sqm let to over 900 tenants – has come to a successful completion and with this transaction Adventum’s assets under management has reached €1 billion.

Codrin Matei, Managing Partner, Head of Capital Markets at Crosspoint Real Estate spoke to Property Forum about the real estate asset classes that can attract new foreign investors and the high level of capital available for innovative projects. The agency has been generating growing revenues in the residential sector and expects business to grow in all commercial segments this year.

There are strange dances around the reconstruction of the baroque Savarin Palace in the centre of Prague. The CZK 10 billion project has been approved by the city's conservationists and city councillors and the first phase of the project is already underway, according to the builders. However, the Ministry of Culture has now rejected the project, saying it would threaten the city's conservation area, the Czech News Agency (ČTK) reports. Therefore, Culture Minister Martin Baxa has a request on his desk from the construction company Crestyl to review the decision of his officials, as company spokesman Ondřej Micka confirmed to Property Forum today.

Invesco Real Estate has sold Panattoni Park Gdańsk Airport, a logistics park situated in the vicinity of the Gdańsk international airport, to EQT Exeter. The complex, part of which is still under construction, comprises five buildings and has a total leasable area of app. 110,000 sqm. The value of the transaction has not been disclosed. 

Less than a year before completion, developer J&T Real Estate CZ is selling its Red Court office centre in Prague's Karlín district. BlackBird Real Estate will become the new owner immediately after approval, the online daily Seznamzpravy.cz reported about the transaction.

Carbon Tower in Wrocław, Ocean Office Park A and Tischnera Office in Kraków – this is a real estate package that is to be acquired by an affiliate of Lone Star Funds. The buildings, belonging to Cavatina Holding, one of Poland's largest office developers, offer a total of nearly 66 thousand sqm of GLA, and their average lease rate is at the level of approx. 90%. The planned buy/sell deal is another portfolio transaction of Cavatina Group, which in 2020 sold three Equal Business Park office buildings (A, B and C).

Rents for commercial projects that are being developed at present in Romania will grow in the next 2-3 years, while demand for green buildings will continue to expand, concluded speakers at a panel discussion at Property Forum’s annual Summer Networking Party organised in Bucharest.

A part of the Prague-based residential project Hagibor, which is being built by Crestyl Group, is now owned by Invesco Real Estate. The acquisition concerns the third phase of the residential part of the project, namely the Delta building, which is already under construction and is to be used for rental housing in the future. The price of the transaction, which was reported by the daily E15, was not published.

EPP has finalised the sale of its 70% stake in the Towarowa 22 mixed-use project in Warsaw to AFI Europe. It is historically one of the largest land transactions in Poland in terms of value, with the total plot value exceeding €180 million.

Fidurock, the Czech/Dutch company that owns Retail Park Trnava, has started to build phase II of the project, which is located in Western Slovakia, 44 km northeast of Bratislava. The extension of this retail park is planned to be completed by the end of this year.