Immofinanz started selling land plots from the portfolio of Adama, a residential developer part of the Immofinanz Group. Two land plots located in the Bucharest area have already been sold, while the transaction for another piece of land is set to be finalised in November. The three assets have a total surface area of almost 36,000 sqm. The parties have agreed not to disclose further details.

Stage Capital has sold a 151,000 sqm portfolio of Czech logistics assets to CBRE Global Investors for €125 million. The portfolio includes four standing assets and development land with planning permission for one more asset.

Investment flows into the CEE-6 region’s commercial real estate markets rose 12% y-o-y in the first nine months of 2017. The €7.6 billion closed deal total coupled with a still full pipeline of deals under consideration suggests that the annual cycle high of €12.2 billion invested last year is likely to be matched or overhauled. Substantial growth in Czech and Bulgarian volumes were the drivers of the momentum in the January-September 2017 period, says Colliers International in its latest report.

Albanian company Balfin Group has acquired a 155 000 sqm plot of land, 1.5 km from the centre of Skopje. The company plans to develop the first mixed-used real-estate development project in excess of 250,000 sqm gross build area, estimated to be largest private investment of this type in Macedonia. The development plans include a new 45 000 sqm gross leasable area shopping mall, residential block and an office park. The overall total investment of the company is planned to be circa €180 million over a time-span of 5-7 years, with €100 million investment in first phase, creating thousands of new jobs and opportunities. The company states that the shopping mall will be developed first, and the apartments and office towers over the next 5-7 years.

The Bulgarian property market is booming with the total transaction volume expected to exceed €1 billion in 2017. The outlook for the future is highly positive: strong demand, underpinned by solid economic growth, encourages developers to start new projects in all segments of the market.

Commerz Real has founded a joint venture together with Unibail-Rodamco for the Prague shopping centre Metropole Zlicin, which has until recently been fully owned by its open-ended real estate fund hausInvest. To this end it has sold 50 per cent of its shares in the property company to Unibail-Rodamco. It was agreed that confidentiality be maintained on the purchase price. Unibail-Rodamco will be assuming the asset and property management for the centre.

During the third quarter of 2017 the total commercial real estate investment transaction volume reached some €505 million in Hungary, pushing the 2017 year-to-date volume to nearly €1.3 billion, according to JLL Hungary’s latest statistics.

One United Properties, a Romanian residential developer has entered the Bucharest office investment market by purchasing the North Gate office building in Pipera. The property was bought at a public auction for €16.8 million. The developer of the complex, Creativ Invest Grup, filed for insolvency earlier.

In 2016, the premises of the former Brno arms factory was taken over by CPI Property Group, which presented the development project Nová Zbrojovka. A new modern neighbourhood is steadily emerging from the brownfield in the wider centre of Brno. At present, the issue of transport infrastructure, the revitalisation of the surrounding area and the clearing of individual spaces is being addressed.

ICP Capital Partners has entered the Czech investment market with the acquisition of Na Rybníčku office building from an Irish private investor. The purchase price is believed to be approximately €5 million (CZK 130 million).