According to Cushman & Wakefield, robust commercial real estate investment activity in the core Central European markets of Poland, the Czech Republic, Slovakia, Hungary and Romania continued in the second quarter of 2016 and reached EUR 2.6 billion, a 56% increase on Q1. This has pushed volumes over the last twelve months to EUR 9.3 billion, close to 2007 record levels.
Mitiska REIM, an investor specialised in European retail parks, has tannounced the successful second closing of its First Retail International 2 Fund (FRI 2) close to €190 million, significantly exceeding its original target of €120 to 150 million. Allowing for gearing of 50%, the Fund’s gross investment capability is now close to €400 million.
P3 has reached the important milestone of 300,000 sqm of built space at its P3 Bucharest park, the largest logistics park in Romania. Since its purchase of the park at the beginning of 2015, P3 has added a total of 85,000 sqm of new space for existing and new clients.
Cushman & Wakefield has published its new CE industrial map to give a comprehensive overview of the most important logistics and industrial sites in Central Europe, Russia and Germany. In addition, this year’s edition has been expanded with figures for Italy’s Milan.
New Europe Property Investments (NEPI) has closed several transactions in Southeastern Europe. The Group has concluded an agreement to acquire a shopping centre in Sibiu, Romania, a minority interest in Mega Mall Bucharest, Romania and a land plot in Novi Sad, Serbia.
Last year has proven to be a turning point for the Romanian investment market. An increased number and more diverse group of investors started looking at individual assets and portfolios, resulting in the largest number of transactions since the beginning of the crisis. Will this upward trend continue into 2016 and 2017? We report from SEE Property Forum 2016, a conference co-organised by Portfolio Conferences and RICS, where the biggest players of the Romanian investment market came together to talk about the future.
The face of commercial property development in Bucharest has changed a lot over the past decade. Developers, investors, tenants and landlords have come together from all over Romania to talk about the office and retail markets at SEE Property Forum 2016, co-organised by Portfolio Conferences and RICS. We report from Bucharest.
The future of cities is in the hands of today’s urban planners and real estate developers. Their decision will determine how an urban area can perform on an increasingly competitive global scene. Creating a city that attracts innovators and investors is in everybody’s interest, but all must be done in a smart, sustainable and responsible way. We report from Bucharest where Portfolio Conferences and RICS have organised SEE Property Forum for the second time.
In 2016 commercial real estate investment activity seems to be picking up again in Southeastern Europe after a slightly weaker 2015. Although financing conditions are continuing to improve a lack of high quality product and liquidity still presents a big challenge for all countries of the region. We report from Bucharest where Portfolio Conferences and RICS have organised SEE Property Forum for the second time.
Globalworth Real Estate Investments has signed an agreement to offer real estate secured bonds worth a total of 180 million euros. 150 million euros will be subscribed by Canada Pension Plan Investment Board (CPPIB) and the remaining 30 million euros by funds managed by Cairn Capital (“Cairn”).
The Change Lingerie brand opened its first shop in the Factory Gliwice outlet centre. The store occupies an area of approximately 100 sqm in the facility.
Another eobuwie.pl shop with a Modivo zone has opened in Pasaż Grunwaldzki in Wrocław. The new outlet occupies an area of 300 sqm.
Three new tenants have joined the ranks of the tenants of Bydgoszcz's CH Rondo retail centre. Gudi Home, Pink Box and Piekarnia Grochola Prawdziwy Chleb have signed agreements for premises with a total area of nearly 1,700 sqm.
New appointments
Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
Daniel Rutkowski joined Walter Herz Investment Advisory Department, currently consisting of six people, and took the position of Development Manager. He will be responsible for searching for and acquiring investment projects, developing investment potential analysis and building the value of real estate.
Dariusz Proniewicz has joined MDC2's team of experts to take on the position of Development Director BTS, with responsibility for the development of BTS investments.
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