Echo Polska Properties (EPP) and Echo Investment concluded final agreements concerning a joint purchase and development of a mixed-use project at 22 Towarowa Street in Warsaw. The property with an area of 6.5-ha is located in a rapidly developing part of the capital city and it is the largest commercial plot in the city centre.

Blackstone has sold the Hilton Prague Old Town hotel and Gestin Centrum, an adjacent 6,900 sqm mixed use commercial building, to Singapore-based real estate investment group M&L Hospitality. JLL’s Hotels & Hospitality group advised Blackstone on the sale.

Slovak investor IAD Investments, acting through its fund Prvý realitný fond o.p.f., has purchased Laugaricio Shopping Centre in Trenčín, Slovakia. The original owners were private investors represented by Mint Investments. This sale, the largest property transaction in Slovakia this year, was brokered by Cushman & Wakefield. 

Cushman & Wakefield, representing CIB Bank, have facilitated the transfer of the former CIB Bank Headquarter offices on Szabadság square, Central Budapest to a German investor as of December 1, 2016. 

M7 Real Estate, the pan-European investor and asset manager, announces that it has made two further acquisitions for the recently launched CEREF I fund. The acquisitions in Croatia and Hungary totalling €14 million mark M7's first entry into both countries.

As announced in October 2016, Rockcastle concluded a preliminary agreement to acquire Galeria Warmińska shopping centre in the city of Olsztyn in Poland from Galeria Warmińska Spółka z Ograniczoną Odpowiedzialnością Spółka Komandytowa. All conditions precedent have been met and the transaction was concluded effective as of 15 December 2016.

The sale of Q22 skyscraper located on al. Jana Pawła II in Warsaw has been completed and Invesco Real Estate has become the new owner of the building. Echo Investment expects that the value of the transaction based on fully let NOI and an agreed yield, after all adjustments and additional payments, shall amount to €273 million. The acquisition of Q22 is the largest investment transactions in the office market in Poland and one of the biggest in Central and Eastern Europe in 2016.

Immofinanz has announced the sale of a smaller Austrian retail portfolio to an Austrian real estate investor and, with this transaction, continues its strategic withdrawal from properties that are not part of the core business. The portfolio covers 88 properties with approx. 108,000 sqm of rentable space in eight Austrian provinces. The parties to the transaction have agreed not to disclose any information on the purchase price. The closing will take place in several steps through the end of 2017. 

FLE GmbH, a company of the LFPI group, has acquired its first property in CEE from an international institutional seller. The acquisition relates to the office building Office Garden I in the Southern Buda area of Budapest, that is 93 percent leased and offers 16,000 square meters of leasable space. The seller was represented by JLL.

An opportunity fund advised by Tristan Capital Partners, a pan-European real estate investment manager, has agreed to sell the Zakopianka Shopping Centre in Krakow, Poland, to Johannesburg-listed Echo Polska Properties for approximately €54 million.