PL

CEE REGION CEE real estate volumes up in H1 – Savills

Investment & finance
Real estate investment turnover grew across the CEE region in H1 2020, despite the impact of Covid-19 in Q2, according to Savills’ latest European Investment Spotlight report.

Of the countries surveyed by Savillls, Germany was the most resilient, recording a rise of 31 pct y-o-y in H1, representing EUR 10 bln of additional investment. It was followed by Luxembourg (up 173.1 pct), Portugal (42.2 pct), the Czech Republic (11.2 pct), Poland (4.6 pct) and Romania (3.2 pct). The countries with the biggest drop-offs in volumes were Ireland (-44.5 pct), Norway (-38 pct) and Italy (-29.5 pct).

During downturns, opportunistic funds are the first to start hunting for discounted stock with growth potential. This time, however, we are seeing in Poland a heightened level of activity by core funds targeting assets leased with long-term leases and strong covenants. With investor demand at an all-time high, there was virtually no upward yield movement in the industrial sector, while transactional office yields have tended to be about 5 pct lower in recent months due to the pandemic.
Marek Paczuski, the deputy head of investment at Savills Poland

Multifamily investment totalled EUR 20.2 bln – 32 pct up y-o-y, accounting for 17 pct of the total European volume in H1 (and 20 pct in Q2). Around 62 pct of this was in Germany, where EUR 12.5 bln was transacted. Savills expects that investors’ allocation for the sector will continue to rise over the next twelve months.

Logistics investment came to EUR 13.3 bln across Europe, down from EUR 14.5 bln in the same period last year – a decrease of 8 pct. Retail investment was 1 pct up reached on H1 2019 at EUR 18.3 bln, accounting for 15% of the overall volume, in line with the five-year trend.

Despite a decline of 15 pct on H1 last year, the predominant asset class remained offices, with EUR 39 bln transacted and 33 pct of the total volume (39 pct in H1 2019). Savills predicts that despite the concerns for the future of the segment post-Covid, offices will remain the main workplace (at least on a part-time basis for some business sectors) and will evolve to fit into the new reality.

In Poland, as in other European countries, a proportion of investors have adopted a wait-and-see approach to the office sector, wondering whether and to what extent the altered work model could weaken demand for office space. What distinguishes Poland from other countries is its strong reliance on overseas capital, which is a disadvantage during an economic downturn. However, in comparison with other EU countries, the Polish labour market remains very attractive to employers, with Poland therefore likely to benefit more strongly from a potential relocation of services to Europe than most Western European countries.
Marek Paczuski of Savills Poland

Latest news

Investment & finance

POLAND Madison buys Chmielna 89 stake

schedule 18 September 2020
Nathan North
deputy editor

A fund managed by US investor Madison International Realty has bought a 65 pct stake in the newly completed Chmielna 89 office project in central Warsaw from Cavatina Holding.

Office & mixed-use development

POLAND West 4 Business Hub up and running

schedule 18 September 2020
Nathan North
deputy editor

Echo Investment has put into use the first stage of the West 4 Business Hub office complex in Wrocław.

Warehouse & industrial

POLAND Panattoni launches work on third Bydgoszcz park

schedule 17 September 2020
Opr./edited by NN

Construction work has begun on Panattoni Park Bydgoszcz III, the first tenant of which is to be electronic equipment servicing company Reconext.

Events

Poland Monika Żywiecka triumphs in the women’s singles!

schedule 17 September 2020
Eurobuild Conferences

The 15th Annual Eurobuild CEE Tennis Tournament endedin the best possible fashionfor Monika Żywiecka of Oakbridge Capital Advisors, with her victory in the women’s singles final.

Warehouse & industrial

POLAND Phoenix charges into Rzeszów

schedule 17 September 2020
Nathan North
deputy editor

The topping out ceremony has taken place for a 15,000 sqm BTS facility being developed by Panattoni for Phoenix Contact E-Mobility in Rzeszów.

Green projects

ROMANIA Funshop Parks to be green parks

schedule 17 September 2020
Opr./edited by NN

Polish company Scallier, which is developing the Funshop Park chain of retail parks in Romania, has opted to obtain BREEAM certification for all its new parks.

Investment & finance

CENTRAL EUROPE Trei takes out EUR 54 mln loan from Helaba

schedule 17 September 2020
Opr./edited by NN

Düsseldorf-based retail park developer Trei Real Estate has been granted an unsecured EUR 42 mln loan from German bank Helaba.

Events

POLAND Krzysztof Stempień retains his crown and adds another

schedule 16 September 2020
Eurobuild Conferences

Last year when he played for the first time at the Eurobuild tennis tournament he caused something of a sensation when he beat all his rivals. Even then, Krzysztof Stempień of Cresa fearlessly faced a strong field, many of whom were regular faces at the tournament, to turn the ranking table on its head.

Warehouse & industrial

POLAND Accolade flies into Szczecin Airport

schedule 16 September 2020
Opr./edited by NN

Accolade has revealed that it is investing EUR 21.3 mln in Panattoni Park Szczecin Airport in Goleniów on the outskirts of the city

Office & mixed-use development

POLAND Arty experience in the Factory

schedule 16 September 2020
Opr./edited by NN

The Art Box Experience, the first fully interactive and digital art gallery in Poland, is to open in Norblin Factory in Warsaw.

Warehouse & industrial

POLAND DHL and DL join forces in Silesia

schedule 16 September 2020
Opr./edited by NN

DL Invest Group and DHL Supply Chain Polska are to jointly develop the DL Invest Park Psary logistics centre in Psary in Silesia.

Events

POLAND Monopolis and Granaria triumph at MIPIM Awards

schedule 16 September 2020
Nathan North
deputy editor

Two Polish developments are among the twelve winners at the MIPIM Awards 2020, which were presented in Paris on September 15th.

Office & mixed-use development

POLAND Full growth of first part of the Forest

schedule 15 September 2020
Opr./edited by NN

HB Reavis has topped off the lower building of its Forest development in Warsaw.

Office & mixed-use development

ROMANIA Siemens and NTT lease half of AFI Park Brașov I

schedule 15 September 2020
Opr./edited by NN

AFI Europe Romania has announced that it has leased 55 pct of AFI Park Brașov to Siemens and NTT Data Services.

Warehouse & industrial

ROMANIA JV leases 75,000 sqm in CTP Bucharest West

schedule 15 September 2020
Nathan North
deputy editor

A joint venture between Maersk and IB Cargo has leased 75,000 sqm in CTPark Bucharest West, which is to be used as a distribution centre for Ikea Supply AG.

Office & mixed-use development

HUNGARY Vodafone moves HQ to Budapest One

schedule 15 September 2020
Nathan North
deputy editor

Vodafone Hungary is to move its headquarters into the Budapest One business park in autumn 2022.

Investment & finance

ROMANIA Romanian RE investment rockets despite the pandemic

schedule 14 September 2020
Opr./edited by NN

More than EUR 400 mln worth of real estate transactions closed in Romania the last weeks, confirming both that the investment market in the country has remained vigorous during the pandemic and that it is no longer just seen as a fringe Central European market, according to Cushman & Wakefield Echinox.

Green projects

EUROPE Warburg-HIH to make entire portfolio carbon neutral

schedule 14 September 2020
Opr./edited by NN

Warburg-HIH Invest Real Estate is to convert all the properties in its portfolio to green electricity and carbon neutral natural gas.

Property and Facility Management

CZECH REPUBLIC C&W to manage Hamburk BC in Plzeň

schedule 14 September 2020
Nathan North
deputy editor

Cushman & Wakefield has been appointed property manager of the Hamburk Business Centre in Plzeň following its recent change of ownership.

Warehouse & industrial

POLAND Globalway leases 52,000 sqm in Gdańsk

schedule 11 September 2020
Nathan North
deputy editor

Globalway, one of the largest suppliers of products from the Far East and China, has leased 52,000 sqm in Panattoni Park Tricity East IV in Gdańsk.

Latest in Investment & finance

schedule 18 September 2020

Madison buys Chmielna 89 stake

A fund managed by US investor Madison International Realty has bought a 65 pct stake in the newly completed Chmielna 89 office project in central Warsaw from Cavatina Holding.

schedule 17 September 2020

Trei takes out EUR 54 mln loan from Helaba

Düsseldorf-based retail park developer Trei Real Estate has been granted an unsecured EUR 42 mln loan from German bank Helaba.

schedule 14 September 2020

Romanian RE investment rockets despite the pandemic

More than EUR 400 mln worth of real estate transactions closed in Romania the last weeks, confirming both that the investment market in the country has remained vigorous during the pandemic and that it is no longer just seen as a fringe Central European market, according to Cushman & Wakefield Echinox.

schedule 10 September 2020

SIF Banat-Crișana makes largest ever land purchase

Closed-end investment company SIF Banat-Crișana has agreed to buy for an undisclosed sum a 99.92 pct stake in South Korean-owned metallurgical firm Doosan IMGB.

schedule 09 September 2020

HB Reavis issues 15,000 five-year bonds

HB Reavis Group has launched its latest bond issue through Slovenská sporiteľňa bank.

schedule 09 September 2020

CEE real estate volumes up in H1 – Savills

Real estate investment turnover grew across the CEE region in H1 2020, despite the impact of Covid-19 in Q2, according to Savills’ latest European Investment Spotlight report.

schedule 07 September 2020

NY court throws out suit over CPI’s Orco takeover

A New York court has dismissed the lawsuit against CPI Property Group brought by Kingstown group companies Investhold and Verali, concerning CPI’s takeover of Orco in 2013/14.

schedule 04 September 2020

Immofinanz invests EUR 2 mln in SpaceOS

Immofinanz has invested EUR 2 mln in connected workspace platform provider SpaceOS.

schedule 02 September 2020

Savills IM buys again in Łódź

Savills Investment Management has acquired a 38,000 sqm logistics building in the Central European Logistics Hub in Łódź.

schedule 02 September 2020

ECE to become ECE Group

ECE is restructuring and, from January 1st 2021, will become ECE Group: an integrated group of companies operating in the real estate and investment sectors, offering services including asset management, development expertise and investment management.  

schedule 01 September 2020

Accolade awarded EUR 153 mln for Polish parks

Czech industrial developer Accolade has received a EUR 153 mln refinancing loan for its Polish portfolio from German real estate bank Aareal.

schedule 01 September 2020

Cordia raises EUR 105 mln from second bond issue

Cordia International, the residential development platform of Futureal Group, has completed its second bond issue on the Budapest Stock Exchange to finance its further expansion, predominantly in the CEE region.

schedule 01 September 2020

EBRD backs Novus with USD 100 mln loan

The European Bank for Reconstruction and Development has agreed to finance food retailer Novus Group with a USD 100 mln loan, of which USD 35 mln is to be syndicated to commercial banks.

schedule 01 September 2020

Robust H1 results for CPI

CPI Property Group saw its net rental income increase by 13 pct y-o-y in H1 2020 to EUR 164 mln.

schedule 31 August 2020

Warimpex sees value in switch to offices

Warimpex Finanz- und Beteiligungs suffered a 44 pct y-o-y reduction in total revenues and a 23 pct fall in gross income from revenues in H1 2020.

schedule 27 August 2020

CPI embraces Concept

Czech real estate investor CPI Property Group has announced the acquisition for an undisclosed sum of the Concept Tower office building on ul. Grzybowska in Warsaw from Concept Development Group.

schedule 17 August 2020

Pankrác plot sells for online record

An almost 1 ha plot in Prague 4 has been sold for a record sum for an online auction of CZK 497 mln (app. EUR 19 mln), according to the auction house, Elektronické Dražby.

schedule 17 August 2020

Eften adds latest Vilnius office building to portfolio

Eften Real Estate Fund III has acquired the Rutkausko office building in Vilnius for EUR 11.8 mln from UAB Sonex Consulting.

schedule 17 August 2020

Trei borrows EUR 51 mln against 40 Biedronka stores

Trei Real Estate Poland has borrowed EUR 51 mln from pbb Deutsche Pfandbriefbank.

schedule 13 August 2020

Panattoni sells two in Łódź to Kajima and Savills IM

Panattoni has sold two warehouse buildings in Łódź to a partnership of Kajima Properties Europe and Savills Investment Management representing an Asian client.

Categories