EY has established a dedicated Real Estate & Hospitality Advisory team based in Prague covering the Czech Republic and the Central Eastern European region. The team will focus on the areas of Corporate Strategic Advisory, Capital Markets, Valuations, Commercial Due Diligence as well as Capital Raising combining traditional property services with business, financial and legal advisory.

Mint Investments, a Central European real estate investment & asset manager sold Panorama Business Center in Prague. The buyer was REDSIDE, manager of real estate open-ended investment fund NOVA Real Estate (SICAV). The seller was advised by CBRE.

Panattoni Europe has embarked on the construction of a factory commissioned by Skamol A/S – a Danish manufacturer of insulation solutions for industry and construction. The BTS facility featuring approx. 6,000 square metres will be delivered in the BTO formula in Opole, at the special economic zone WSSE Invest Park. The contract was mediated by Colliers International, and the completion of works to be implemented by Panattoni Europe is anticipated in April 2017.

Belgian real estate developer Atenor announced the sale of Váci Greens Building C to Czech investment fund ZFP realitní fond (managed by ZFP Investments). This building is one of the three buildings completed by Atenor within its Váci Greens development in Budapest. Building C, completed in June 2015, comprises 18,500 sqm of office space, fully let to General Electric. 

HB Reavis has sold Twin City A, a modern office building located in close proximity to Bratislava city centre in Slovakia, to Prvý realitný fund (PRF), managed by IAD Investments with a transaction yield of 6.5%. The building, located in the Mlynske Nivy business district of Bratislava, was completed in 2015 and offers approximately 16,500 sqm of leasable space, which is fully let to a number of tenants, including PWC, Merck Sharp & Dohme, Bayer, BNP Paribas Slovensko and Sfera.

Immofinanz is continuing the expansion of its Stop Shop retail park chain in Serbia. Three new locations will be added in Požarevac, Lazarevac and Vršac, with a total of 23,800 sqm of rentable space. The individual projects are in different stages, but should all be completed before the end of 2017. 

Futureal Group has sold its Polish retail asset, Nova Park to a joint-venture formed by MAS Real Estate Inc. and Prime Kapital Limited for €88.5 million. Over the last four years Nova Park, located in central Gorzów in western Poland has become the largest shopping centre in the region with a catchment of 370,000 people. 

Greater transparency and continuous training pave the way for higher professional standards on the real estate market. More than 100 professionals, from all over Austria and Central & Eastern Europe gathered in Vienna last week to discuss new directions in the profession at the latest RICS event. 

Skanska has sold Atrium 2 to HANSAINVEST Hanseatische Investment-GmbH, one of the largest investment companies in Germany. Located near Rondo ONZ, Atrium 2 is Skanska’s eighth and newest investment to be developed in the business centre of Warsaw. The building has three tenants Credit Suisse, DLA Piper and Bravura Solutions.

Knight Frank has been appointed leading agent by Skanska to commercialize the retail ground floors of all five buildings of the High5ive complex in Kraków. The project developed by Skanska Property Poland will be handed over for use in stages. The first stage, which will include two buildings right next to the Galeria Krakowska shopping centre, is scheduled for the end of 2017.