pbb Deutsche Pfandbriefbank provided an investment facility of €22 million to CBRE Property Fund Central and Eastern Europe, an investment fund focusing on retail assets in Poland and Slovakia, managed by CBRE Global Investors. This is the second transaction after the refinancing of Wars Sawa Junior retail scheme one month ago. CBRE PFCEE will use the proceeds for the refinancing of the dominant Europa Shopping Center in Banská Bystrica. pbb acted as arranger and sole lender under the facility.

Immofinanz has completed and opened a further shopping centre under its Vivo! retail brand in the Polish city of Krosno. Vivo! Krosno has approx. 21,000 sqm of rentable space and is fully occupied. This shopping centre expands Immofinanz‘s Vivo! portfolio to ten locations in four countries with more than 314,000 sqm of rentable space.

REICO, Česká spořitelna’s real estate fund manager, expanded its Polish portfolio by the acquisition of the Galeria Sloneczna shopping centre in Radom. The value of the fund’s new acquisition is approximately €164 million (CZK 4.3 billion). The seller is an American insurance group that developed the asset in a joint venture partnership with AIG/Lincoln (now White Star Real Estate).

Cushman & Wakefield is responsible for the commercialisation of Pradera’s four retail parks in Poland: Homepark Targówek and Homepark Janki in Warsaw, Homepark Rawa in Katowice and Homepark Franowo in Poznań. The four retail schemes provide more than 100,000 sqm of GLA.

Master Management Group is planning the first European outlet centre with a village designed concept in Poland. The first phase of the project, located in Łomna near Warsaw, close to the Warsaw – Gdańsk route and Modlin Airport, will have an area of almost 19,000 sqm. The second phase will deliver a further 30,000 sqm.

Following the completion of piling works, Belgrade Waterfront announced the official start of structural works on BW Galerija, which represents the biggest shopping and lifestyle destination in Serbia and the region. The structural works contract was awarded to Gradina. Opening is scheduled for 2020.

Through its subsidiary NEPI Rockcastle has acquired Paradise Center in Sofia, Bulgaria from BULFELD EOOD for €252.9 million, resulting in an acquisition yield of approximately 7%. The transaction will be effective upon obtaining approval of the Bulgarian Competition Authority.

The rapid growth of e-commerce will completely transform the retail market within the next few years. Shopping centres will need to adapt to changing consumer needs in order to stay in business but experts believe that many will not survive. Booming online sales, on the other hand, present a great opportunity for further growth in logistics. Members of the retail panel at CEE Property Forum, moderated by Andreas Ridder, Chairman CEE at CBRE, discussed the future of the business.

Through its subsidiary NEPI Rockcastle has acquired the Arena Plaza shopping centre in Budapest from Symmetry Arena Ingatlankezelő Kft. The aggregate purchase price paid for the transaction was €275 million, resulting in an acquisition yield of approximately 6.2%.

Galeria Północna, GTC’s latest retail development in the Polish capital has officially opened. The mall has a total leasable area of 64,800 sqm and is LEED Gold pre-certified.