Patrizia has divested a portfolio of three Warsaw offices totalling c. 15,400 sqm to VIG FUND a.s., a real estate vehicle of Vienna Insurance Group - one of the largest international insurance groups in Central and Eastern Europe. The price remains undisclosed.

More companies from the medical industry have decided to establish part of their operations in 7R City Park Warsaw Airport III, which is under construction in Osmańska Street in Warsaw. ITP S.A. and Stryker will move into the facility at the end of the year, and Komtur will join them in early 2023. Earlier, Polfa Warszawa announced the launch of its research and development centre in the 7R warehouse located on Osmańska Street.

Cloud content management company Box has leased almost 16,000 sqm of office space in Varso Tower in Warsaw.

In 2021, CA Immo Poland signed 29 lease agreements for a total of 36,200 sqm office space in Warsaw. The company also finalized the sale of the Wspólna 47-49 office building.

Atrium announced the major refurbishment of its flagship shopping centre – Atrium Promenada, located in Warsaw, Poland. The investment aims to refurbish the second part of the shopping centre. This will continue the transformation of Promenada, the first part of which was completed in autumn 2018.

Avison Young has advised M7 Real Estate in the disposal of the Mokotow Plaza office building in Warsaw. The buyer is Vienna-based investor FLE GmbH, entering Warsaw office market with this purchase.

According to “Office Occupier: Office Market in Warsaw, Q1-Q4 2021”, a report published by Newmark Polska, despite many challenges that the office market faced in 2021, the closing months of the year brought the long-awaited stabilization. Occupier activity in the fourth quarter bounced back to pre-pandemic levels and the city’s vacancy rate remained high, albeit relatively stable. Meanwhile, developers were slowly restarting planned projects.

Bank PKO BP inked a long-term deal to lease ca. 34,550 sqm office space in the Warsaw Skysawa project by Polski Holding Nieruchomości (PHN) to be completed in Q4 2022, PHN said in a market filing without disclosing the value of the deal.

The Polish Chamber of Commercial Property (PINK) has published figures on the office market in Warsaw for Q4 2021. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

Garbe Institutional Capital has launched a pan-European residential real estate fund with a total target investment volume (GAV) of around €800 million. The Garbe European Residential Fund (Garbe EUResi) invests in real estate developments and selectively also in properties undergoing energy rehabilitation. The investment strategy follows a "boots on the ground" approach: the fund only invests in locations where Garbe can act as a local investor through a local presence. The fund’s launch is a milestone in Garbe Institutional Capital’s move to expand into a European residential real estate platform. Garbe EUResi has already received equity commitments of €82.5 million.