ARTICLES LABELLED WITH TAG transaction

Penta Real Estate has sold three real estate projects in Bratislava. The buyer is former Penta co-owner Jozef Oravkin, who left the group at the end of 2021 to set up his development and investment company, Penta announced in a press release.

Passerinvest Group a.s. has entered into an off-market agreement with the investor Simona Otavova for the purchase of the building housing the general headquarters of the state-funded organization Road and Motorway Directorate of the Czech Republic (Ředitelství silnic a dálnic ČR – ŘSD). The value of the transaction was not disclosed. The change of ownership was announced today by Passerinvest.

Penta Real Estate is planning a new development on the banks of the Danube in Bratislava. Therefore, the company has acquired land from HB Reavis with a total area of 85,000 sqm. The price of the transaction was not disclosed. The new acquisition was reported by news portal Trend, which is part of the NMH publishing house owned by Penta Investments.

The YIT Group, which is the largest construction and development company in Finland and has so far operated in 10 countries including the Czech Republic, has completed a strategic review of its business in Russia. Based on this analysis, it signed an agreement with Etalon Group PLC to sell its business in Russia.

Thanks to new financing from  Erste / Česká spořitelna, Demaco was able to conclude a new contract with Schott. Demaco believes that this contract will bring even more investment to the region and the town of Valašské Meziříčí, the company´s CFO Zdeněk Raus told Property Forum.

The fourth quarter was one of the best in recent history, with property deals in Romania at €342 million, compared to €40 million in the same period of last year, according to real estate consultancy Colliers. The overall investment transactions volumes edged close to €900 million, which is roughly similar to the result of 2020. 

Real estate consultancy RE/MAX Romania brokered property deals worth more than €300 million in 2021 and almost doubled its commission income to €10.5 million. 

Residential developer Apx Immo has taken over a land plot of 830 sqm in Cotroceni area from ICD Real Estate for €1.3 million. 

The office sector accounted for 66% of total investment volumes recorded in Romania’s commercial real estate sector in the first semester. Deals worth close to €290 were closed in the first half, down 41% year-on-year, according to a report by real estate consultancy Colliers. 

During the pandemic, banks continued to finance ongoing commercial real estate projects but they are more careful with financing new ones, looking for higher corporate credentials and imposing more restrictive conditions to fulfil. Monia Dobrescu, Partner at Romanian law firm Mușat & Asociații talked to Property Forum about the pandemic’s effects on client relationships and provided market insight from the legal advisor’s perspective.