ARTICLES LABELLED WITH TAG CEE

Warimpex announced the partial sale of its hotel portfolio to Thai investor U City Public Company Limited (U City). The transaction includes eight hotel participations – two of which are partially (50 per cent) owned by UBM Development AG (UBM) – which comprise approximately 50 percent of Warimpex's total real estate assets and which have a property value of approximately €180 million (excluding the stakes of UBM in that portfolio). 

The amount of industrial space leased in key Central and Eastern European markets in 2016 was the largest ever recorded, totalling 5.7 million sqm. This represents a 25% increase over the preceding two years when about 4.5 million sqm was leased. The strong take-up among tenants was linked with an extensive new development at 2.2 million sqm. The findings are based on the research conducted by Cushman & Wakefield, which has been monitoring the industrial property market in the Czech Republic, Poland, Hungary, Romania and Slovakia over an extended period.

Poland remains the powerhouse of Central and Eastern Europe attracting close to half the capital invested in the region over 2016 as activity grew 5% over the year to €5.2 billion. According to Cushman & Wakefield, with the uncertainty around upcoming elections in major European countries and the ongoing Brexit challenges, Poland and the CEE region will maintain their strong position as a focus for any pan-European investment strategy.

Occupier and investment sentiment continues to be positive across Central and Eastern Europe according to the RICS Commercial Property Monitor for Q4 2016. Hungary and the Czech Republic remain the most upbeat markets, with Bulgaria and Croatia also gaining momentum. In Romania the pace of growth seems to be slowing down, although sentiment and projections continue to be broadly positive.

Prologis announced full-year 2016 activity for its business in Central and Eastern Europe. The company leased 1.8 million sqms in the region. New lease agreements accounted for 700,000 sqm and lease renewals for 900,000 sqm, with the balance short-term agreements. The CEE portfolio occupancy rate was a record 96.4 percent. 

Total commercial real estate investment across CEE (Czech Republic, Hungary, Poland, Romania and Slovakia) reached €4.4bn in Q4 2016, a 27% increase on Q4 2015. This took full year volumes for 2016 to just over €11bn, an 11% increase on 2015 (€9.9bn), bucking the wider trend across Europe and on the continent where volumes shrank year-on-year. Cushman & Wakefield Czech Republic predicts a further growth of the region. 

2016 reached the volume of €11.8bn in investment markets across Poland, Czech Republic, Slovakia, Hungary, Bulgaria and Romania, according to a research report by Colliers International. Aside from Poland, investment flows in 2017 will be close to or higher than 2016’s.  The retail sector might see continued rental growth and high investment levels across the region.

Prologis announced fourth quarter and full year 2016 activity in Europe. Prologis Europe ended the fourth quarter with 96.7 percent occupancy, an increase of 90 basis points over the course of 2016. The company signed new leases and renewals totalling 718,200 square metres in the fourth quarter and 3.5 million square metres in the full year 2016 – an increase in volume of 54 percent over 2015.

Panattoni Europe has expanded its team. The developer’s ranks have been joined by Adam Janus, who has taken the position of Business Development Director. He will be responsible for attracting new warehouse projects and aligning the developer’s services with the needs of clients and prospects.

TriGranit announced the appointment of Tamás Páldi, M.D. as Human Resources Director and Mr. Mariusz Domeracki as Finance Director for Poland.