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Immofinanz has received approval from its Supervisory Board to enter into negotiations with its core shareholder CPI Property Group concerning the acquisition of shares in S Immo. Currently, Immofinanz directly holds approx. 26.49% of S Immo. CPIPG directly holds 52.7% of S Immo, which may further increase as a result of CPIPG’s mandatory takeover offer over S Immo.

MLP Group reported performance figures for the nine months to 30 September 2022. The Group’s net asset value (NAV) went up 33%, to over PLN 2.4 billion (€498.5 million). The value of its investment properties also rose 33%, to more than PLN 4.5 billion (€958.2 million). Consolidated revenue improved 35% yoy, to €41.9 million, driven by an increase in the leased area and rental rates. Net rental income, on the other hand, rose 30% yoy, to PLN 145.6 million (€31.0 million). Operating profit rose 164%, to PLN 750.1 million (€160.0 million). In the first nine months of 2022, MLP Group generated PLN 526,1 million (€112.2 million) in net profit, a more than 2.6-fold improvement on the year before.

NEPI Rockcastle has entered into an agreement to acquire 100% of the shares in Atrium Copernicus, the entity that owns Atrium Copernicus Shopping Center in Toruń, Poland, from Atrium Retail Ltd. 

Due to strong Q1 activity, partially spilling over from last year, investment volumes for the first three quarters of 2022 totalled €7.5 billion. Year-end 2022 volumes could reach between €9.0 and 10.0 billion, reveals a report by Colliers.

CPI Property Group has announced the divestment of part of its portfolio to reduce the Group's debt burden. Its debt had primarily increased due to the Group's €8 billion investment in Austria. The estimated value of the properties to be sold is expected to be around €2 billion. The liquidation strategy was announced by CPI PG in its notification to shareholders.

Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector, according to real estate consultancy Cushman & Wakefield Echinox. 

The volume of investment in Romania’s commercial property sector reached €330 million in Q3 2022 and €667 million in the first nine months, while in the first three quarters of 2021 the investment market stood at around €550 million, according to Colliers. 

7R has completed the sale of 7R Park Goleniów II to Macquarie Asset Management. The BTS (build-to-suit) format warehouse in Goleniów, near Szczecin, comprises of 62,500 sqm of logistics space and 3,100 sqm of office space. The facility is fully leased to FIEGE, a German mail-order retailer and global e-commerce giant. The price has not been disclosed. This is the second deal between Macquarie Asset Management and 7R closed within the last few months. In August 2022, the investor also acquired the 7R City Flex Warsaw Airport I facility.

The economical environment for PRS investments in Poland has never been so favourable. However, foreign investors cannot spread their wings because of the general uncertainty, planning difficulties and high debt costs – these are just some of the topics that were covered in a panel discussion with international investors during Living Investment Forum 2022, organised by Property Forum yesterday in Warsaw.

White Star Real Estate has sold the 17,000 sqm Krisztina Plaza office building in Central Buda. The name of the buyer was not disclosed.