Yareal has received the building permit to construct the first stage of the 65,000 sqm LIXA office complex. Yareal’s biggest office investment ever will co-create the business centre at Warsaw’s Daszyński roundabout.

Majority shareholder Lone Star (LSREF III GTC Investments B.V.) has informed developer Globe Trade Center (GTC) that it is considering the sale of entire 61.1 percent stake in the company. Lone Star appointed J.P.Morgan and UBS to assist them in this strategic review.

Panattoni Europe has completed the construction of two warehousing facilities with a total area of approximately 42,500 sqm for Raben Logistics Poland. The logistics’ new branch was built as a part of Panattoni Park Grodzisk III and is adapted to store approx. 50,000 pallets. The facility employs over 300 people and is able to serve over 85,000 shipments a day.

CPI Property Group announced the acquisition of Futurum Hradec Kralove Shopping Centre from Meyer Bergman, a privately held real estate investment management firm.

The CEO of CTP believes that logistics is a future-proof investment product that can make or break a company's success. The developer is moving ahead with full speed and hopes to increase its portfolio to 8 million sqm within the next few years. Remon Vos talked to Property Forum in Budapest about current plans and the future of industrial/logistics as an asset class.

Panattoni Europe has completed the construction of a large-scale logistics centre for BSH Sprzęt Gospodarstwa Domowego. The 79,000-square-metre BTS facility with its own railway siding was delivered in Łódź, at the largest distribution complex in Poland, Central European Logistics Hub.

According to “Occupier Economics: Office Market in Łódź in 2017”, the latest report produced by Cresa, last year’s absorption rate for office buildings in Łódź hit a record high of 55,500 sqm. With office stock at 437,770 sqm, Łódź is Poland’s sixth largest regional office market. The city’s vacancy rate currently stands at 9.3% (up by 3.1 p.p. year-on-year).

CTP is significantly expanding activities on the Hungarian market. The company announced two new land acquisitions in strategic locations during its presentation for real estate agents and journalists. The first plot of land is located in Biatorbágy, and the second land plot is near Dunaharaszti, which is one of CTP’s newest locations. These acquisitions are a result of CTP’s expansion plan, which will increase the value of assets owned by the group in Hungary from €250 million to €320 million by the end of 2018.

Union Investment has acquired the Park Inn by Radisson Krakow, which opened in 2009. The transfer of rights and obligations with regard to the property is scheduled to take place by the end of May 2018. The 152-room hotel is located south of the Vistula river, close to the city centre and in the immediate vicinity of the modern ICE Congress Centre, where around 200 events are held every year. The vendor is a joint venture between subsidiaries of UBM Development AG and Lindorcenia Ltd. The Radisson Hotel Group manages the hotel and provides the brand name. The hotel is let on a long-term lease. The purchase price is approximately €26 million. Union Investment is acquiring the property for an institutional real estate fund.

Despite being late in its cycle, the global real estate market is benefiting from strong returns for investors and a positive global economic outlook, according to Emerging Trends in Real Estate – The Global Outlook for 2018, an annual forecast of global real estate investor sentiment published jointly by PwC and the Urban Land Institute (ULI). The report notes that in this highly competitive, late-cycle property market, the real estate industry must embrace technology, new business models, and the concept of “space as a service”.