PL

ROMANIA Austrian office investors pump up the volume

Investment & finance
Almost EUR 300 mln was invested in Romanian real estate in H1 2021, according to figures provided by Cushman & Wakefield Echinox. A large contribution to the volume was provided by the increased activity of Austrian office investors.

The total transaction volume of EUR 298 mln was actually a 23 pct decrease on H1 2020. According to Cushman & Wakefield Echinox’s ‘Romania Investment Marketbeat’ report, the three most important transactions in the first half of this year were acquisitions of Bucharest office properties by Austrian investors: Campus 6.2 and 6.3 (S Immo), The Light One (Uniqa RE) and Bucharest Financial Plaza (Immofinanz). The three transactions had a combined value of EUR 189 mln, representing 63 pct of the total volume for H1 2021.

Market liquidity held up impressively throughout the most difficult phases of the pandemic in 2020 and has also stayed quite healthy in H1 2021, as Romania still has some of the most attractive yields in the region. Looking ahead, the yields are forecast to remain stable this year for standard properties, while compression is expected for premium properties in landmark locations that attract a larger pool of potential buyers.
Mihnea Șerbănescu, the general manager of Cushman & Wakefield Echinox

Industrial and logistics assets attracted 24 pct of the capital invested over the period, with CTP and Globalworth both expanding their portfolios in the west of the country, while Oresa Ventures purchased Solo Parc – the largest logistics park in Iaṣi.

The next most active segment was hotels, where two transactions were recorded in Bucharest with a combined value of around EUR 21 mln (7 pct of the H1 volume), the most important being the sale of the Ramada Majestic hotel on Calea Victoriei to a new investor on the local market, Swiss company Visionapartments. The retail sector was the least active in H1 2021, with only individual commercial units being changing hands. In total, 24 income-generating properties with an average value of EUR 12 mln were transacted.

Latest news

Warehouse & industrial

HUNGARY VGP enters Budapest market

schedule 18 October 2021
Opr./edited by NN

Czech-based industrial developer VGP has entered the Budapest market by purchasing a 38 ha development site in Üllő, adjacent to Budapest Ferenc Liszt International Airport.

Green projects

POLAND Excellent news for Panattoni in Świebodzin

schedule 18 October 2021
Opr./edited by NN

A BTS development that has recently been completed by Panattoni in Świebodzin with an area of 200,000 sqm has been awarded a BREEAM New Construction ‘Excellent’ certificate.

Events

POLAND ESG - environmental strategy in practice or a catchy marketing slogan?

schedule 15 October 2021
Eurobuild Conferences

Experts on environmental issues are increasingly keen to emphasise how important it is to adopt a practical approach aimed at effectively protecting the climate and the environment. The time for talking about this issue is over and we now have to put our words into practice. The clock is ticking and so we cannot remain indifferent in the face of the climate crisis.

Events

In search of new lands

schedule 15 October 2021
Eurobuild Conferences

The impressive growth rate and astronomical profits generated by the warehouse and logistics sector are attracting more and more new players to the industry, who are entering the game completely without any inhibitions. The only question is, are there any New Worlds left to be discovered in the warehouse market?

Investment & finance

POLAND EUR 111 mln refinancing loan for ELI

schedule 14 October 2021
Opr./edited by NN

European Logistics Investment (ELI) has secured an EUR 111 mln loan agreement with Berlin Hyp for the refinancing of four logistics projects in Poland.

Warehouse & industrial

CZECH REPUBLIC Saint-Gobain reaches 10,000 in Panattoni Hořovice

schedule 14 October 2021
Opr./edited by NN

French multinational Saint-Gobain has expanded the space it leases in Panattoni Park D5 Hořovice in Central Bohemia.

Warehouse & industrial

POLAND LPP takes 64,000 sqm in Panattoni Park Tricity South II

schedule 14 October 2021
Nathan North
deputy editor

Polish clothing group LPP is to occupy app. 64,000 sqm in two new Panattoni Park Tricity South II buildings, where it will begin operations in April 2022.

Warehouse & industrial

Poland GLP starts work on Wrocław V

schedule 13 October 2021

GLP has commenced work on the GLP Wrocław V Logistics Centre, the largest warehouse project underway in the Wrocław urban area.

Office & mixed-use development

Poland Medicover stays in Green Horizon

schedule 13 October 2021

Medicover, one of the largest private health providers in Poland, has prolonged its lease and is to offer a wider range of services in the Green Horizon office building in Łódź.

Retail & leisure

Poland Jysk in Homepark Targówek

schedule 13 October 2021

Jysk has leased 1,500 sqm in the Homepark Targówek retail park in Warsaw.

Office & mixed-use development

Poland JLL to lease Craft

schedule 13 October 2021

JLL has been appointed leasing agent for Ghelamco's Craft office building in Katowice.

Investment & finance

POLAND EBRD loans EUR 72 mln to DL Invest for green sheds

schedule 11 October 2021
Opr./edited by NN

The European Bank for Reconstruction and Redevelopment has provided a EUR 72 mln loan to Polish real estate investor DL Invest Group.

Warehouse & industrial

ROMANIA CTP buys Olympian portfolio

schedule 11 October 2021
Opr./edited by NN

Czech industrial developer CTP has acquired 153,000 sqm of warehousing space for an undisclosed sum from Olympian Parks, in Brașov in Transylvania, in Timișoara in western Romania and on Bucharest’s southern outskirts.

Investment & finance

BULGARIA Park Lane Office Center sold for EUR 49 mln

schedule 11 October 2021
Nathan North
deputy editor

Business software specialist SAP has acquired the Park Lane Office Center in Sofia from Park Lane Developments for EUR 49 mln.

Warehouse & industrial

POLAND Savills IM buys A2 Warsaw Park for EUR 112.5 mln

schedule 11 October 2021
Nathan North
deputy editor

Savills Investment Management, on behalf of its Savills IM European Logistics Fund 3, has acquired A2 Warsaw Park from Invesco Real Estate for EUR 112.5 mln.

Events

POLAND Recruitment, wages, benefits – how they do it in warehouses

schedule 11 October 2021
Eurobuild Conferences

The warehouse sector has emerged unscathed from the pandemic, and in Poland the volume of investment and the number of investors continues to grow – and thus the number of jobs generated by the sector is also increasing. Employees have nothing to complain about in terms of the stability of their contracts and salary levels, but what does all this look like from the employers’ point of view? Find out at Eurobuild’s 17th Warehouse and Logistics Conference!

Warehouse & industrial

POLAND Panattoni set to start on Bolesławiec park

schedule 08 October 2021
Opr./edited by NN

Construction work is to start this month on Panattoni Park Bolesławiec in Lower Silesia, which will comprise 50,000 sqm.

Warehouse & industrial

POLAND North Coast switches to MLP Pruszków II

schedule 08 October 2021
Opr./edited by NN

Polish food products distributor North Coast has leased 2,500 sqm in MLP Pruszków II.

Investment & finance

POLAND Echo sells Moje Miesjce I for EUR 47.3 mln

schedule 08 October 2021
Nathan North
deputy editor

Echo Investment has sold the Moje Miejsce I office building in Warsaw for EUR 47.3 mln to an undisclosed institutional investor operating on the real estate market.

Residential

POLAND Atrium buys first resi-for-rent projects – in Poland

schedule 06 October 2021
Nathan North
deputy editor

Atrium European Real Estate has announced that it has signed its first two residential transactions, for two properties with around 650 apartments for rent in Warsaw and Kraków – for a combined EUR 53 mln.

Latest in Investment & finance

schedule 14 October 2021

EUR 111 mln refinancing loan for ELI

European Logistics Investment (ELI) has secured an EUR 111 mln loan agreement with Berlin Hyp for the refinancing of four logistics projects in Poland.

schedule 11 October 2021

EBRD loans EUR 72 mln to DL Invest for green sheds

The European Bank for Reconstruction and Redevelopment has provided a EUR 72 mln loan to Polish real estate investor DL Invest Group.

schedule 11 October 2021

Park Lane Office Center sold for EUR 49 mln

Business software specialist SAP has acquired the Park Lane Office Center in Sofia from Park Lane Developments for EUR 49 mln.

schedule 08 October 2021

Echo sells Moje Miesjce I for EUR 47.3 mln

Echo Investment has sold the Moje Miejsce I office building in Warsaw for EUR 47.3 mln to an undisclosed institutional investor operating on the real estate market.

schedule 06 October 2021

7R sells two parks to CBRE

Polish industrial developer 7R has finalised the sale for an undisclosed sum of two of its parks, 7R Park Poznań East and 7R Park Sosnowiec, to CBRE Investment Management in an off-market transaction.

schedule 30 September 2021

Oxford completes M7 takeover

Oxford Properties Group has finalised the acquisition of UK investment and asset manager M7 Real Estate.

schedule 29 September 2021

CTP raises EUR 1 bln

CTP has completed its dual-tranche issue of green bonds, raising a total of EUR 1 bln under its EUR 8 bln EMTN programme.

schedule 28 September 2021

Wing raises over EUR 69 mln

WING has issued green bonds totalling around HUF 25 bln (around EUR 69 mln) as part of the Bonds for Growth Scheme (NKP) of the Central Bank of Hungary.

schedule 28 September 2021

Futureal secures EUR 50 mln loan for Budapest One 3

Futureal has secured a loan of almost EUR 50 mln (app. HUF 17 bln) from Hungary-based MKB Bank to finance the third phase of its Budapest One office development.

schedule 27 September 2021

Globalworth sells five Warsaw buildings for EUR 123 mln

Globalworth has agreed to sell five Warsaw office buildings to 5th Corner for around EUR 123 mln.

schedule 27 September 2021

One United buys historic building

One United Properties has bought an historic building at Strada Georges Clemenceau 2 in central Bucharest for EUR 4.9 mln.

schedule 23 September 2021

LCP on spending spree

The Pasaż Warmiński retail park in Lidzbark Warmiński has been purchased by LCP.

schedule 23 September 2021

White Stone buys in Bielany

White Stone has bought a second plot of land in the Huta Warszawa area of Warsaw’s Bielany district next to the Młociny metro station.

schedule 23 September 2021

Galeria Malta in Poznań changes hands

The Galeria Malta shopping centre in Poznań has been sold by Sierra Balmain. The buyer and the transaction price have yet to be disclosed.

schedule 21 September 2021

BentallGreenOak loaned EUR 90 mln for portfolio buy

PBB Deutsche Pfandbriefbank has provided a EUR 90 mln investment loan and VAT facility to BentallGreenOak for the acquisition of a Polish warehouse portfolio.

schedule 20 September 2021

Segro raises EUR 500 mln in green bond issue

Segro has announced the launch and pricing of a ten-year, EUR 500 mln senior unsecured Green bond issue.

schedule 20 September 2021

EUR 200 mln refinancing for Accolade

ČSOB and Unicredit Bank have granted Accolade refinancing for its parks in the Czech Republic worth EUR 150 mln (CZK 3.8 bln). This follows the investor’s refinancing of its Polish portfolio last year for EUR 153 million. Additionally, Accolade has announced that financing worth EUR 54 mln has also been granted by Aareal Bank.

schedule 20 September 2021

EQT Exeter buys Tristar portfolio

EQT Exeter has acquired a portfolio of five Polish warehouse properties from Tristan Capital Partners’ EPISO 4 fund and White Star Real Estate for an undisclosed sum.

schedule 14 September 2021

Adventum to buy Sky Tower skyscraper

Adventum Group has signed a preliminary contract to buy all the shares owned by Develia in the Sky Tower office skyscraper in Wrocław for PLN 84.4 mln. The price will be reduced by the value of unsettled incentives for tenants, with the transaction set to be finalised by the end of this year.

schedule 13 September 2021

MNK Partners enters Hungary

French real estate investor MNK Partners has bought a building of the Kodolányi János University on Frangepán utca in Budapest XIII, just north of the city centre.

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