Adventum International, a Malta-based boutique investment fund manager, has acquired the 66,000 sqm GLA Köki Terminal shopping centre in Budapest for its Adventum Quartum investment fund.

Poland’s total retail stock topped 15 million sqm at the end of Q3 2019. The high shopping centre density rate in the country’s large cities has shifted developer interest towards less saturated markets of smaller cities and other retail formats such as mixed-use schemes, according to Cushman & Wakefield’s Q3 2019 retail report.

Bright Spaces, a proptech solution developed by a Romanian start-up, has received funding of €185,000 for development and implementation. The financing was coordinated by Sparking Capital as lead investor, with Growceanu Angel Investment and angel investor Ilinca Păun, former MD of Colliers International Romania.

2.5 million sqm was leased in the first three quarters of 2019 and by the end of the year, demand will most likely exceed 3 million sqm. 2019 has seen developers deliver two million sqm to market, with a total stock now stands at almost 18 million sqm. JLL summarised the situation on Poland's industrial market at the end of Q3 2019.

The Czech Republic made it to the Top 20 countries ranked by the most expensive retail street for the second time in Cushman & Wakefield’s annual Main Streets Across the World 2019 chart. It climbed to No.18 thanks to Na Příkopě, a street where the prime rental value is €235 per sqm per month. The Czech Republic is the only country in the Central and Eastern European region to make it to the Top 20 this year (it appeared in the chart last year for the first time ever), confirming its reigning position on the Central European market.

The Romanian real estate market continued to show a positive evolution, and in the third quarter of 2019, the positive trend applied to all three leasing sectors, according to CBRE Research data. In the first nine months of the year, approximately 290,000 sqm were leased on the office segment, the main source of the demand being the IT&C companies and the financial industry, while on the retail market a number of 11 new brands chose to enter in Romania, among which Victoria's Secret and Burger King, advised by CBRE.

Apsys has refinanced the Centrum Posnania retail asset with a 10-years maturity, €300 million senior loan from Allianz - completed by Allianz Real Estate on behalf of several Allianz companies - and that it now owns 100% of the 100,000 sqm property in Poznan, Poland.

KG Group SA and Peakside Capital have teamed up to develop a new outlet centre in Kraków. ROS Retail Outlet Shopping has been selected as the manager of the Cracovia Outlet project with a wide range of fashion & lifestyle products. The construction of the centre will start soon and the opening is planned for autumn 2021.

Multi Hungary announced its extensive refurbishment plans for Allee shopping centre in Buda, in the most densely populated district of Budapest. Multi will upgrade and renovate the 46,700 sqm shopping centre, while enhancing the tenant mix, interior and exterior design and customer services. Multi will start the execution phase in the second quarter of 2020 and expects to complete most of the work still in 2020.

One of the region’s most active investment managers, Griffin Real Estate has ambitious plans to further expand its portfolio in several market segments, potentially outside of Poland as well. Stanislav Frnka, the company’s Senior Partner has talked to Property Forum at Expo Real about Griffin’s investment strategy and the asset classes they’re exploring.