Liquidity constraints, evolving capital structures and growing ESG scrutiny are redefining how investors operate across CEE, according to Wolf Theiss Co-Managing Partner Tomasz Stasiak. In an interview with Property Forum, he highlights a more selective approach to distressed assets, the rising role of local capital and the increasing importance of operational and regulatory considerations in shaping investment decisions.

LemonTree has completed the sale of two warehouse buildings from the first phase of the Booster Zabrze complex to Vestas Investment Management Europe. The transaction, backed by Korean capital, is valued at over €120 million and includes a commitment to acquire the second phase upon completion.

Erste Group Bank and its Romanian subsidiary BCR have jointly provided €21 million in refinancing for the Day Tower office building in Bucharest. The loan facility was signed with Danube Capital Partners.

Wolf Theiss has announced the expansion of its Corporate and M&A team in Poland with the addition of 27 new team members, including seven partners.

Property group NEPI Rockcastle has raised the equivalent of €143 million equity from its latest scrip dividend, corresponding to approximately 85% of the final dividend payment for 2022, while also completing a secured green financing of €200 million for a 5-year term with Erste Group Bank and Raiffeisen Bank.

The 4-star K+K Elisabeta hotel located in the Bucharest city center has been sold to Lorand and Zsuzsanna Szarvadi, the owners of the Balvanyos Resort & Spa in Covasna for an undisclosed sum. 

Some developers forecast that sales prices will increase in the future purely as a result of the zero-emission requirements currently being placed on buildings but there is no consensus as to what the ultimate effect will be. Robert David, Partner and Tomáš Kren, Senior Associate at Wolf Theiss’ Prague office talked to Property Forum about the increasingly important role ESG compliance plays in real estate transactions and potential regulatory changes that can affect the market.

Romanian developer Iulius and its partner Atterbury Europe have secured a financing deal worth €410 million for its national network of shopping centres in four Romanian cities. 

In the wake of the COVID-19 pandemic, dealmakers are broadly positive about the prospects for M&A in Central, Eastern and South-Eastern Europe (CEE/SEE), according to a new survey from Wolf Theiss and Mergermarket. Just over half (52%) of respondents said that the health crisis will increase their appetite for deals in the next 12 months.