Czech investment company REICO investiční společnost České spořitelny, a.s. (REICO IS ČS) as of February has appointed Savills as property manager for its Prague office complex Bořislavka. Savills will work in cooperation with Active Retail Asset Management (ARAM) who will manage the retail scheme within the asset.  

According to Savills, the e-commerce boom is continuing to drive demand for industrial and logistics assets across Europe, as new records were set for both levels of investment and leasing activity in 2021. In Poland, take-up in 2021 reached an all-time high and industrial assets accounted for over a half of the total investment volume.

Driven by large-scale mergers and acquisitions, European multifamily investment volumes in the 12 countries analysed reached approximately €92.3 billion in 2021, a 79% increase year-on-year and a 120% increase on the past five-year average, Savills announces. 

Apollo Rida has extended its cooperation with Savills and appointed the firm as its sole leasing agent for office space in Jerozolimskie Business Park in Warsaw.

Savills, together with Eastdil Secured, has advised Macquarie Capital Principal Finance and Elite Partners Capital on the sale of a pan-European logistics portfolio, Elite Logistics Fund I to Blackstone European Property Income Fund (BEPIF) for €520 million.

Savills has signed an association agreement with Modesta Real Estate, located in Vienna, to support its continued expansion across Europe and the Middle East. Modesta Real Estate will collaborate with Savills to service existing clients whilst liaising with Savills offices and other partners in CEE to build relationships across the wider region. Modesta Real Estate also has an office in Bratislava and will be collaborating closely with Savills’ Czech office to ensure further service delivery in Slovakia.

According to Savills, the last quarter of 2021 was the busiest of the year for commercial real estate investment, with 30 closed transactions and a total volume exceeding €628 million. This was the highest quarterly volume of real estate investment since Q1 2020 and a 23% improvement on Q4 2020 volume.

EQT Exeter has appointed Savills as property manager for its very first investment in the Czech Republic. The portfolio of industrial assets comprises 140,000 sqm and is located close to Ostrava, Logistics Park Nošovice with effect from July 2021 and Ostrava Airport Multimodal Park in Mošnov with effect from December 2021.

An increasing number of value-add investment opportunities will emerge in 2022, said Savills, as decarbonising buildings and ESG-requirements create redevelopment opportunities across Europe.

Following years of turmoil in retail, 2022 will bring rental growth and increased investment capital to the sector across Europe, according to Savills.