ARTICLES LABELLED WITH TAG investment

Rents for commercial projects that are being developed at present in Romania will grow in the next 2-3 years, while demand for green buildings will continue to expand, concluded speakers at a panel discussion at Property Forum’s annual Summer Networking Party organised in Bucharest.

A part of the Prague-based residential project Hagibor, which is being built by Crestyl Group, is now owned by Invesco Real Estate. The acquisition concerns the third phase of the residential part of the project, namely the Delta building, which is already under construction and is to be used for rental housing in the future. The price of the transaction, which was reported by the daily E15, was not published.

EPP has finalised the sale of its 70% stake in the Towarowa 22 mixed-use project in Warsaw to AFI Europe. It is historically one of the largest land transactions in Poland in terms of value, with the total plot value exceeding €180 million.

Fidurock, the Czech/Dutch company that owns Retail Park Trnava, has started to build phase II of the project, which is located in Western Slovakia, 44 km northeast of Bratislava. The extension of this retail park is planned to be completed by the end of this year.

Data is key for the execution of a successful ESG strategy, according to the first panel discussion at the European ESG Property Forum conference in Warsaw where leading investors, bankers and advisors provided insight into the topic.

Immofinanz was informed by its primary shareholder CPI Property Group that CPIPG has decided not to support a proposal to the upcoming ordinary shareholders’ meeting of Immofinanz for the distribution of a dividend for the financial year 2021.

Bratislava's Aupark shopping centre, owned by Wood & Company and Unibail-Rodamco-Westfield, is adding another step to improve its sustainable management. In addition to sorting, low-energy lighting and water conservation, it is now installing hundreds of photovoltaic panels on its roof. The owners are hoping to make significant savings in energy resources, most notably saving 100,000 cubic metres of natural gas per year, reports the online daily Reality.trend.sk.

The Polish warehouse market remained stable in Q1 2022, with a slight decrease observed on the demand side with 1.56 million sqm leased (-2.5% y/y). On the supply side, developers completed over one million sqm (+44% y/y) projects. A record-breaking 4.9 million sqm remains under construction, with factors such as inflation and rising material and contractor prices driving rental rates up. Not without matter for the entire sector is the geopolitical situation behind Poland's south-eastern border, which may temporarily increase the demand of tenants relocating their business from Eastern Europe in the following quarters of the year. AXI IMMO presented the results of the Polish warehouse market in the period January - March 2022 in the report "Polish Warehouse Market in Q1 2022".

Radomił Charzyński, Partner, Real Estate Practice and Deputy Managing Partner at Greenberg Traurig Poland talked to Property Forum about the impact of the war in Ukraine on the Polish property market, current financial conditions and consolidation forecasts.

Centerscape Investments has closed the acquisition of a retail park portfolio from Hunter REIM. Avison Young represented the seller in the transaction.